Teck Resources (NYSE:TECK) (TSE:TECK) has been given a $33.00 price target by analysts at Barclays in a research report issued on Tuesday, TipRanks reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. Barclays‘s price target would suggest a potential upside of 101.10% from the company’s previous close.
Several other research analysts have also recently commented on the company. ValuEngine raised Teck Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. TD Securities cut Teck Resources to a “buy” rating in a research report on Monday, July 22nd. Clarkson Capital reissued a “neutral” rating on shares of Teck Resources in a research report on Monday, September 23rd. Macquarie began coverage on Teck Resources in a research report on Wednesday, July 10th. They set a “neutral” rating for the company. Finally, B. Riley set a $39.00 price target on Teck Resources and gave the company a “buy” rating in a research report on Wednesday, October 9th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $31.14.
NYSE TECK traded up $0.07 during trading hours on Tuesday, hitting $16.41. 136,683 shares of the company traded hands, compared to its average volume of 3,192,382. The business’s 50-day moving average is $16.89 and its 200-day moving average is $20.27. Teck Resources has a twelve month low of $14.51 and a twelve month high of $25.75. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.58 and a current ratio of 2.47. The stock has a market capitalization of $9.08 billion, a price-to-earnings ratio of 5.23 and a beta of 1.42.
Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Thursday, July 25th. The basic materials company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.04). Teck Resources had a net margin of 20.37% and a return on equity of 8.49%. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period last year, the company posted $1.12 earnings per share. Analysts predict that Teck Resources will post 2.54 EPS for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Winslow Evans & Crocker Inc. increased its stake in shares of Teck Resources by 12.8% during the third quarter. Winslow Evans & Crocker Inc. now owns 6,672 shares of the basic materials company’s stock worth $110,000 after purchasing an additional 756 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Teck Resources by 336.3% during the third quarter. Assenagon Asset Management S.A. now owns 154,955 shares of the basic materials company’s stock worth $2,515,000 after purchasing an additional 119,441 shares during the period. Cerebellum GP LLC increased its stake in shares of Teck Resources by 18.3% during the third quarter. Cerebellum GP LLC now owns 15,480 shares of the basic materials company’s stock worth $251,000 after purchasing an additional 2,394 shares during the period. Foundation Resource Management Inc. increased its stake in shares of Teck Resources by 6.4% during the third quarter. Foundation Resource Management Inc. now owns 1,242,299 shares of the basic materials company’s stock worth $20,163,000 after purchasing an additional 75,175 shares during the period. Finally, Maverick Capital Ltd. increased its stake in shares of Teck Resources by 5.1% during the second quarter. Maverick Capital Ltd. now owns 257,990 shares of the basic materials company’s stock worth $5,949,000 after purchasing an additional 12,550 shares during the period. 53.65% of the stock is owned by institutional investors.
Teck Resources Company Profile
Teck Resources Limited researches, explores for, develops, and produces natural resources in the Asia Pacific, the Americas, and Europe. It operates through five segments: Steelmaking, Coal, Copper, Zinc, Energy, and Corporate. The company's principal products include steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.
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