Teck Resources (NYSE:TECK) Price Target Raised to $95.00

Teck Resources (NYSE:TECK) (TSE:TECK) had its price target lifted by Stifel Nicolaus from $82.00 to $95.00 in a research report report published on Tuesday,BayStreet reports. The firm currently has a hold rating on the basic materials company’s stock.

Several other analysts have also weighed in on TECK. Weiss Ratings upgraded shares of Teck Resources from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Wall Street Zen cut shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 26th. Raymond James Financial upgraded shares of Teck Resources from a “market perform” rating to an “outperform” rating in a report on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Teck Resources from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Teck Resources from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, July 28th. Six investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $68.80.

Teck Resources Trading Down 6.2%

Shares of TECK stock opened at $58.90 on Tuesday. The company has a market cap of $28.46 billion, a P/E ratio of 15.20, a PEG ratio of 2.03 and a beta of 1.01. The stock has a 50 day simple moving average of $66.66 and a two-hundred day simple moving average of $63.06. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.33 and a current ratio of 3.12. Teck Resources has a fifty-two week low of $38.00 and a fifty-two week high of $72.56.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.40. The firm had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.38 billion. Teck Resources had a return on equity of 10.42% and a net margin of 17.85%. The company’s revenue was up 78.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.38 earnings per share. Research analysts forecast that Teck Resources will post 4.25 earnings per share for the current year.

Institutional Investors Weigh In On Teck Resources

Hedge funds and other institutional investors have recently modified their holdings of the company. SBI Securities Co. Ltd. lifted its holdings in shares of Teck Resources by 101.8% in the 3rd quarter. SBI Securities Co. Ltd. now owns 900 shares of the basic materials company’s stock worth $59,000 after purchasing an additional 454 shares in the last quarter. Kapitalo Investimentos Ltda grew its position in Teck Resources by 23.7% in the 3rd quarter. Kapitalo Investimentos Ltda now owns 436,487 shares of the basic materials company’s stock valued at $28,716,000 after purchasing an additional 83,628 shares during the period. Genesee Capital Advisors LLC acquired a new stake in Teck Resources in the 3rd quarter valued at $259,000. Vontobel Holding Ltd. increased its stake in Teck Resources by 8.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 111,052 shares of the basic materials company’s stock valued at $7,312,000 after purchasing an additional 8,503 shares in the last quarter. Finally, Triasima Portfolio Management inc. increased its stake in Teck Resources by 43.4% during the 3rd quarter. Triasima Portfolio Management inc. now owns 39,350 shares of the basic materials company’s stock valued at $2,597,000 after purchasing an additional 11,900 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

Teck Resources Company Profile

Teck Resources Limited is a Canadian mining and mineral development company focused primarily on copper and zinc, commodities used in electrification, infrastructure, manufacturing and other industrial applications. The company explores for, develops and operates mines, mineral processing facilities and related infrastructure.

Teck’s copper assets include Highland Valley Copper in British Columbia, Canada; Carmen de Andacollo in Chile; and Quebrada Blanca in northern Chile. Its zinc operations include the Red Dog mine in Alaska and the Trail Operations metallurgical complex in British Columbia, which produces refined metals, alloys and other related products.