Today, Teck Resources Ltd. (TCK) Receives “Sector Perform” Rating from Scotiabank

Today, Teck Resources Ltd. (TCK) Receives “Sector Perform” Rating from Scotiabank
Scotiabank reiterated their sector perform rating on shares of Teck Resources Ltd. (NYSE:TCK) (TSE:TCK.B) in a research note released on Saturday. They currently have a $34.00 price target on the stock, up from their prior price target of $29.00.

Other analysts also recently issued research reports about the company. TD Securities restated a buy rating and issued a $24.00 price target on shares of Teck Resources in a research note on Thursday, August 25th. Dundee Securities raised Teck Resources from a neutral rating to a buy rating in a research report on Friday, October 14th. Bank of America Corp. assumed coverage on Teck Resources in a research report on Monday, October 17th. They issued a buy rating on the stock. Paradigm Capital reaffirmed a buy rating and issued a $34.00 price objective (up from $29.00) on shares of Teck Resources in a research report on Saturday, October 29th. Finally, Goldman Sachs Group Inc. raised Teck Resources from a neutral rating to a buy rating and set a $31.00 price objective on the stock in a research report on Tuesday, November 15th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $22.13.

Teck Resources (NYSE:TCK) opened at 25.69 on Friday. Teck Resources has a 12 month low of $2.56 and a 12 month high of $26.21. The stock has a 50 day moving average price of $21.41 and a 200 day moving average price of $16.01. The stock’s market capitalization is $14.81 billion.

Teck Resources (NYSE:TCK) last posted its quarterly earnings results on Thursday, October 27th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.08. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $1.65 billion. Teck Resources had a positive return on equity of 1.13% and a negative net margin of 1.42%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.05 EPS. On average, equities research analysts forecast that Teck Resources will post $1.09 earnings per share for the current fiscal year.

The firm also recently declared a semiannual dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 15th will be paid a $0.037 dividend. The ex-dividend date is Tuesday, December 13th. This represents a yield of 0.29%. Teck Resources’s payout ratio is presently -53.33%.

A number of large investors have recently modified their holdings of the company. Advisor Group Inc. purchased a new position in shares of Teck Resources during the second quarter worth $105,000. PNC Financial Services Group Inc. raised its position in shares of Teck Resources by 7.3% in the third quarter. PNC Financial Services Group Inc. now owns 7,343 shares of the company’s stock worth $134,000 after buying an additional 500 shares during the last quarter. Macquarie Group Ltd. purchased a new position in shares of Teck Resources during the second quarter worth $150,000. Fox Run Management L.L.C. purchased a new position in shares of Teck Resources during the third quarter worth $191,000. Finally, Commonwealth Equity Services Inc raised its position in shares of Teck Resources by 4.9% in the second quarter. Commonwealth Equity Services Inc now owns 19,237 shares of the company’s stock worth $253,000 after buying an additional 900 shares during the last quarter. Institutional investors and hedge funds own 47.05% of the company’s stock.

Teck Resources Company Profile

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