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