Teck Resources Ltd (NYSE:TECK) Receives $30.40 Average Price Target from Analysts

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) has been given a consensus recommendation of “Buy” by the eighteen analysts that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and fourteen have given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $30.40.

Several equities research analysts recently commented on TECK shares. MKM Partners reaffirmed a “buy” rating and set a $28.00 target price (up previously from $26.00) on shares of Teck Resources in a research note on Wednesday, April 24th. Macquarie started coverage on Teck Resources in a research note on Wednesday, July 10th. They set a “neutral” rating for the company. Zacks Investment Research cut Teck Resources from a “buy” rating to a “hold” rating in a research note on Saturday, July 13th. ValuEngine cut Teck Resources from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, TD Securities cut Teck Resources to a “buy” rating in a research note on Monday, July 22nd.

Shares of TECK stock traded down $0.15 on Friday, hitting $16.52. The company had a trading volume of 1,269,694 shares, compared to its average volume of 3,084,220. The stock has a market cap of $9.25 billion, a price-to-earnings ratio of 5.26 and a beta of 1.38. The company’s 50-day moving average price is $20.79. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.58 and a current ratio of 2.47. Teck Resources has a twelve month low of $16.52 and a twelve month high of $25.82.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Thursday, July 25th. The basic materials company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.04). The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.24 billion. Teck Resources had a net margin of 20.37% and a return on equity of 8.49%. During the same period in the previous year, the company posted $1.12 EPS. As a group, analysts expect that Teck Resources will post 2.86 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC bought a new position in Teck Resources in the second quarter worth approximately $32,000. Kempen Capital Management N.V. bought a new position in Teck Resources in the second quarter worth approximately $53,000. CWM LLC bought a new position in Teck Resources in the second quarter worth approximately $66,000. Glen Harbor Capital Management LLC boosted its holdings in Teck Resources by 18.0% in the second quarter. Glen Harbor Capital Management LLC now owns 5,192 shares of the basic materials company’s stock worth $115,000 after acquiring an additional 792 shares in the last quarter. Finally, Riverhead Capital Management LLC boosted its holdings in Teck Resources by 19.8% in the second quarter. Riverhead Capital Management LLC now owns 5,988 shares of the basic materials company’s stock worth $133,000 after acquiring an additional 988 shares in the last quarter. Institutional investors and hedge funds own 54.84% of the company’s stock.

Teck Resources Company Profile

Teck Resources Limited researches, explores for, develops, and produces natural resources in the Asia Pacific, the Americas, and Europe. It operates through five segments: Steelmaking, Coal, Copper, Zinc, Energy, and Corporate. The company's principal products include steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.

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Analyst Recommendations for Teck Resources (NYSE:TECK)

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