Trade Report: Today, Teck Resources Ltd. (TCK) Upgraded to Outperform at RBC Capital Markets

Today, Teck Resources Ltd. (TCK) Upgraded to Outperform at RBC Capital Markets

RBC Capital Markets upgraded shares of Teck Resources Ltd. (NYSE:TCK) from a sector perform rating to an outperform rating in a research report released on Monday. RBC Capital Markets currently has $30.00 price target on the stock, up from their prior price target of $23.00.

Several other equities research analysts have also recently weighed in on the stock. Dundee Securities raised shares of Teck Resources from a neutral rating to a buy rating in a research report on Friday. CIBC reaffirmed an outperform rating on shares of Teck Resources in a research report on Thursday, October 13th. Scotiabank reaffirmed a sector perform rating and set a $27.00 price objective on shares of Teck Resources in a research report on Wednesday, October 12th. Zacks Investment Research raised shares of Teck Resources from a hold rating to a strong-buy rating and set a $20.00 price objective for the company in a research report on Wednesday, October 5th. Finally, Deutsche Bank AG raised shares of Teck Resources from a sell rating to a hold rating and increased their target price for the stock from $11.50 to $20.00 in a report on Monday, October 3rd. Six equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $16.55.

Teck Resources (NYSE:TCK) traded up 3.933% during trading on Monday, hitting $20.215. 2,010,107 shares of the stock were exchanged. The firm has a 50-day moving average of $17.71 and a 200-day moving average of $13.53. The stock’s market capitalization is $11.65 billion. Teck Resources has a 52 week low of $2.56 and a 52 week high of $20.26.

Teck Resources (NYSE:TCK) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. Teck Resources had a negative net margin of 32.87% and a positive return on equity of 0.39%. The business earned $1.74 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the prior year, the business posted $0.14 earnings per share. Teck Resources’s revenue was down 13.0% compared to the same quarter last year. Equities research analysts anticipate that Teck Resources will post $0.63 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of TCK. Wetherby Asset Management Inc. boosted its position in shares of Teck Resources by 1.0% in the second quarter. Wetherby Asset Management Inc. now owns 33,318 shares of the company’s stock worth $439,000 after buying an additional 336 shares in the last quarter. Oak Associates Ltd. OH boosted its position in shares of Teck Resources by 1.0% in the first quarter. Oak Associates Ltd. OH now owns 41,704 shares of the company’s stock valued at $317,000 after buying an additional 400 shares during the period. Commonwealth Equity Services Inc boosted 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 valued at $253,000 after buying an additional 900 shares during the period. Raymond James & Associates boosted its position in shares of Teck Resources by 3.4% in the second quarter. Raymond James & Associates now owns 42,964 shares of the company’s stock valued at $566,000 after buying an additional 1,430 shares during the period. Finally, Capstone Asset Management Co. boosted its position in shares of Teck Resources by 4.7% in the third quarter. Capstone Asset Management Co. now owns 33,644 shares of the company’s stock valued at $607,000 after buying an additional 1,520 shares during the period. Institutional investors own 47.22% of the company’s stock.

Teck Resources Company Profile

Related posts

Leave a Comment