Teck Resources (NYSE:TECK) Upgraded at StockNews.com

StockNews.com upgraded shares of Teck Resources (NYSE:TECK) (TSE:TECK) from a sell rating to a hold rating in a research report sent to investors on Thursday.

Several other equities research analysts also recently weighed in on the stock. TD Securities raised shares of Teck Resources to a “strong-buy” rating in a research note on Tuesday, July 16th. Citigroup raised shares of Teck Resources to a “hold” rating in a research note on Wednesday, October 2nd. Scotiabank lifted their price objective on shares of Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a report on Tuesday, October 8th. Benchmark reiterated a “buy” rating and set a $55.00 price objective on shares of Teck Resources in a report on Thursday, July 25th. Finally, Paradigm Capital upgraded shares of Teck Resources to a “moderate buy” rating in a report on Friday, July 26th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $65.29.

Teck Resources Price Performance

Shares of NYSE TECK opened at $47.35 on Thursday. Teck Resources has a twelve month low of $34.38 and a twelve month high of $55.13. The firm has a fifty day simple moving average of $48.73 and a 200 day simple moving average of $48.73. The company has a market capitalization of $24.19 billion, a PE ratio of 20.95 and a beta of 1.02. The company has a quick ratio of 0.77, a current ratio of 1.48 and a debt-to-equity ratio of 0.19.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.32. Teck Resources had a net margin of 9.40% and a return on equity of 6.52%. The business had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter last year, the firm earned $0.91 earnings per share. Teck Resources’s quarterly revenue was up 10.1% on a year-over-year basis. On average, sell-side analysts forecast that Teck Resources will post 1.93 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TECK. PNC Financial Services Group Inc. boosted its holdings in Teck Resources by 8.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,357 shares of the basic materials company’s stock worth $480,000 after purchasing an additional 865 shares during the last quarter. 180 Wealth Advisors LLC purchased a new position in Teck Resources during the first quarter worth about $223,000. Hexagon Capital Partners LLC boosted its holdings in Teck Resources by 143.0% during the first quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 386 shares during the last quarter. Quattro Financial Advisors LLC purchased a new position in Teck Resources during the first quarter worth about $927,000. Finally, Tradewinds Capital Management LLC purchased a new position in Teck Resources during the first quarter worth about $114,000. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

About Teck Resources

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.