Teck Resources (NYSE:TECK) Upgraded to “Hold” by StockNews.com

Teck Resources (NYSE:TECK) (TSE:TECK) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Thursday.

A number of other analysts also recently issued reports on TECK. Citigroup raised Teck Resources to a “hold” rating in a report on Wednesday, October 2nd. TD Securities raised Teck Resources to a “strong-buy” rating in a report on Tuesday, July 16th. CIBC lifted their price target on Teck Resources from $70.00 to $80.00 and gave the stock an “outperformer” rating in a report on Friday, July 12th. BMO Capital Markets started coverage on Teck Resources in a research report on Monday, July 15th. They set an “outperform” rating on the stock. Finally, Eight Capital cut Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $67.43.

Teck Resources Trading Down 1.5 %

Shares of NYSE TECK opened at $49.56 on Thursday. Teck Resources has a twelve month low of $34.38 and a twelve month high of $55.13. The company has a current ratio of 1.48, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19. The stock has a fifty day simple moving average of $48.80 and a 200-day simple moving average of $48.74. The stock has a market capitalization of $25.32 billion, a PE ratio of 21.93 and a beta of 1.02.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.32. The firm had revenue of $3.87 billion during the quarter, compared to analyst estimates of $2.67 billion. Teck Resources had a return on equity of 6.52% and a net margin of 9.40%. Teck Resources’s revenue was up 10.1% compared to the same quarter last year. During the same period last year, the business posted $0.91 earnings per share. On average, equities analysts forecast that Teck Resources will post 1.94 earnings per share for the current year.

Institutional Investors Weigh In On Teck Resources

Institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Teck Resources in the 3rd quarter valued at approximately $756,000. Country Club Bank increased its holdings in shares of Teck Resources by 25.4% during the 3rd quarter. Country Club Bank now owns 45,654 shares of the basic materials company’s stock worth $2,394,000 after buying an additional 9,250 shares during the last quarter. Mount Yale Investment Advisors LLC increased its holdings in shares of Teck Resources by 64.4% during the 3rd quarter. Mount Yale Investment Advisors LLC now owns 10,946 shares of the basic materials company’s stock worth $572,000 after buying an additional 4,289 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Teck Resources during the 3rd quarter worth $10,818,000. Finally, Eastern Bank acquired a new stake in shares of Teck Resources during the 3rd quarter worth $39,000. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Company Profile

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.