Teck Resources (NYSE:TECK) PT Raised to $57.00 at JPMorgan Chase & Co.

Teck Resources (NYSE:TECK) (TSE:TECK) had its target price lifted by investment analysts at JPMorgan Chase & Co. from $54.00 to $57.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 13.25% from the stock’s current price.

TECK has been the subject of several other reports. CIBC boosted their target price on Teck Resources from $70.00 to $80.00 and gave the stock an “outperformer” rating in a research report on Friday, July 12th. Paradigm Capital upgraded shares of Teck Resources to a “moderate buy” rating in a research report on Friday, July 26th. StockNews.com upgraded shares of Teck Resources from a “sell” rating to a “hold” rating in a research report on Monday, October 7th. Eight Capital lowered shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 11th. Finally, Citigroup upgraded shares of Teck Resources to a “hold” rating in a research report on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $67.43.

Teck Resources Price Performance

NYSE TECK opened at $50.33 on Tuesday. The company has a market cap of $25.47 billion, a PE ratio of 24.67 and a beta of 1.02. The company has a quick ratio of 0.77, a current ratio of 1.48 and a debt-to-equity ratio of 0.19. The firm’s 50-day simple moving average is $48.26 and its two-hundred day simple moving average is $48.61. Teck Resources has a 52 week low of $34.38 and a 52 week high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.32. Teck Resources had a return on equity of 6.52% and a net margin of 9.40%. The company had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same period in the previous year, the business earned $0.91 earnings per share. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. Research analysts predict that Teck Resources will post 2 earnings per share for the current year.

Institutional Trading of Teck Resources

A number of large investors have recently added to or reduced their stakes in TECK. Hexagon Capital Partners LLC lifted its stake in shares of Teck Resources by 143.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 386 shares during the last quarter. Creekmur Asset Management LLC bought a new stake in Teck Resources in the fourth quarter worth $35,000. Headlands Technologies LLC bought a new stake in Teck Resources in the second quarter worth $38,000. Bruce G. Allen Investments LLC boosted its stake in Teck Resources by 77.4% during the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock worth $46,000 after buying an additional 383 shares during the period. Finally, Blue Trust Inc. increased its position in Teck Resources by 583.1% during the second quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock valued at $48,000 after acquiring an additional 898 shares during the last quarter. Institutional investors own 78.06% of the company’s stock.

About Teck Resources

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.