Todays Report: The Scotiabank Reaffirmed Sector Perform Rating for Teck Resources Ltd. (TCK)

The Scotiabank Reaffirmed Sector Perform Rating for Teck Resources Ltd. (TCK)

Scotiabank reaffirmed their sector perform rating on shares of Teck Resources Ltd. (NYSE:TCK) in a research report sent to investors on Saturday. Scotiabank currently has a $29.00 target price on the stock, up from their previous target price of $27.00.

TCK has been the subject of a number of other reports. Deutsche Bank AG raised shares of Teck Resources from a sell rating to a hold rating and boosted their target price for the company from $11.50 to $20.00 in a research note on Monday, October 3rd. Zacks Investment Research upgraded shares of Teck Resources from a hold rating to a strong-buy rating and set a $20.00 price target on the stock in a research report on Wednesday, October 5th. Sanford C. Bernstein restated a sell rating and set a $10.00 price target on shares of Teck Resources in a research report on Friday, August 19th. CIBC restated an outperform rating on shares of Teck Resources in a research report on Thursday, October 13th. Finally, National Bank Financial upgraded shares of Teck Resources from a sector perform rating to an outperform rating in a research report on Tuesday, October 18th. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Teck Resources currently has a consensus rating of Hold and a consensus price target of $17.83.

Shares of Teck Resources (NYSE:TCK) traded up 0.86% during mid-day trading on Friday, reaching $21.07. 6,007,472 shares of the company were exchanged. Teck Resources has a 12 month low of $2.56 and a 12 month high of $21.69. The company’s 50 day moving average price is $18.62 and its 200 day moving average price is $14.29. The firm’s market capitalization is $12.14 billion.

Teck Resources (NYSE:TCK) last posted its earnings results on Thursday, October 27th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.08. The firm earned $2.31 billion during the quarter, compared to analyst estimates of $1.65 billion. Teck Resources had a negative net margin of 1.42% and a positive return on equity of 1.14%. Teck Resources’s revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.05 EPS. Equities analysts anticipate that Teck Resources will post $0.93 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of TCK. Commerzbank Aktiengesellschaft FI increased its stake in Teck Resources by 27.9% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 36,123 shares of the company’s stock valued at $476,000 after buying an additional 7,887 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Teck Resources by 26.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 350,536 shares of the company’s stock valued at $4,591,000 after buying an additional 72,252 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Teck Resources by 44.1% in the second quarter. Bank of New York Mellon Corp now owns 1,288,642 shares of the company’s stock valued at $16,972,000 after buying an additional 394,476 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in Teck Resources during the second quarter valued at approximately $600,000. Finally, Montrusco Bolton Investments Inc. acquired a new stake in Teck Resources during the second quarter valued at approximately $8,035,000. 47.22% of the stock is owned by institutional investors.

Teck Resources Company Profile

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