Teck Resources (NYSE:TECK) Stock Rating Upgraded by Zacks Research

Teck Resources (NYSE:TECK) (TSE:TECK) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. Scotiabank restated a “sector perform” rating on shares of Teck Resources in a research report on Tuesday, February 24th. UBS Group reiterated a “buy” rating on shares of Teck Resources in a report on Tuesday, January 27th. National Bank Financial cut shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, December 5th. Benchmark lifted their price target on shares of Teck Resources from $48.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, February 23rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Teck Resources in a report on Wednesday, January 21st. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $57.00.

Teck Resources Price Performance

Shares of NYSE TECK opened at $48.50 on Monday. The company has a quick ratio of 1.91, a current ratio of 2.54 and a debt-to-equity ratio of 0.13. Teck Resources has a fifty-two week low of $28.32 and a fifty-two week high of $62.41. The business has a 50 day moving average price of $54.57 and a two-hundred day moving average price of $47.33. The firm has a market cap of $23.35 billion, a PE ratio of 24.01, a price-to-earnings-growth ratio of 2.94 and a beta of 0.77.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Thursday, February 19th. The basic materials company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.39. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.28 billion. Teck Resources had a return on equity of 5.90% and a net margin of 12.98%.Teck Resources’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.45 EPS. Sell-side analysts expect that Teck Resources will post 1.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Teck Resources

Institutional investors have recently modified their holdings of the company. Welch Group LLC lifted its position in Teck Resources by 3.5% during the 4th quarter. Welch Group LLC now owns 5,899 shares of the basic materials company’s stock worth $283,000 after acquiring an additional 199 shares during the last quarter. ASR Vermogensbeheer N.V. lifted its position in shares of Teck Resources by 1.6% during the 3rd quarter. ASR Vermogensbeheer N.V. now owns 16,721 shares of the basic materials company’s stock worth $734,000 after purchasing an additional 270 shares during the last quarter. Compound Planning Inc. boosted its holdings in Teck Resources by 1.0% in the 4th quarter. Compound Planning Inc. now owns 32,266 shares of the basic materials company’s stock valued at $1,545,000 after purchasing an additional 333 shares during the period. Smartleaf Asset Management LLC grew its position in Teck Resources by 72.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 351 shares during the last quarter. Finally, CWM LLC raised its position in shares of Teck Resources by 22.7% during the third quarter. CWM LLC now owns 2,078 shares of the basic materials company’s stock valued at $91,000 after buying an additional 384 shares during the last quarter. Institutional investors own 78.06% of the company’s stock.

About Teck Resources

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.