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

StockNews.com upgraded shares of Teck Resources (NYSE:TECK) (TSE:TECK) from a sell rating to a hold rating in a research note released on Thursday.

Several other equities research analysts have also recently weighed in on the company. Paradigm Capital raised Teck Resources to a “moderate buy” rating in a research report on Friday, July 26th. Citigroup raised shares of Teck Resources to a “hold” rating in a report on Wednesday, October 2nd. Eight Capital downgraded shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 11th. TD Securities upgraded Teck Resources to a “strong-buy” rating in a research note on Tuesday, July 16th. Finally, Benchmark reiterated a “buy” rating and issued a $55.00 price objective on shares of Teck Resources in a research report on Thursday, July 25th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.25.

Teck Resources Trading Up 1.0 %

Teck Resources stock opened at $47.27 on Thursday. Teck Resources has a one year low of $34.38 and a one year high of $55.13. The company’s fifty day moving average price is $48.76 and its two-hundred day moving average price is $48.73. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 0.77. The company has a market capitalization of $23.92 billion, a price-to-earnings ratio of 22.96 and a beta of 1.02.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.32. Teck Resources had a return on equity of 6.52% and a net margin of 9.40%. The business had revenue of $3.87 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same quarter in the prior year, the firm posted $0.91 EPS. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, analysts forecast that Teck Resources will post 1.93 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Hexagon Capital Partners LLC grew its holdings 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 worth $30,000 after purchasing an additional 386 shares during the last quarter. Eastern Bank acquired a new position in Teck Resources in the third quarter valued at about $39,000. Headlands Technologies LLC bought a new stake in Teck Resources during the second quarter worth about $38,000. Bruce G. Allen Investments LLC increased its holdings in shares of 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 in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in shares of Teck Resources by 69.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock worth $52,000 after acquiring an additional 409 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

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.