Teck Resources (NYSE:TECK) PT Lowered to $54.00

Teck Resources (NYSE:TECK) (TSE:TECK) had its target price reduced by investment analysts at JPMorgan Chase & Co. from $56.00 to $54.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 17.93% from the company’s current price.

Several other equities analysts also recently commented on the company. TD Securities raised Teck Resources to a “strong-buy” rating in a research report on Tuesday, July 16th. CIBC boosted their price objective on shares of Teck Resources from $70.00 to $80.00 and gave the company an “outperformer” rating in a research report on Friday, July 12th. Morgan Stanley upped their target price on shares of Teck Resources from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, June 21st. Benchmark lifted their price target on shares of Teck Resources from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, BMO Capital Markets began coverage on Teck Resources in a research note on Monday, July 15th. They issued an “outperform” rating on the stock. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Teck Resources has a consensus rating of “Moderate Buy” and an average target price of $63.00.

Teck Resources Trading Up 1.4 %

Shares of Teck Resources stock traded up $0.62 during trading on Thursday, hitting $45.79. The stock had a trading volume of 971,721 shares, compared to its average volume of 3,601,668. The stock has a market cap of $23.39 billion, a PE ratio of 20.04, a PEG ratio of 10.55 and a beta of 1.05. Teck Resources has a 12 month low of $34.38 and a 12 month high of $55.13. The firm’s fifty day simple moving average is $49.32 and its 200-day simple moving average is $45.32. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.49 and a quick ratio of 0.86.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Thursday, April 25th. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.31). Teck Resources had a net margin of 10.59% and a return on equity of 7.52%. The business had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $2.99 billion. As a group, sell-side analysts expect that Teck Resources will post 2.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Teck Resources by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 16,721,130 shares of the basic materials company’s stock worth $765,493,000 after purchasing an additional 290,034 shares during the last quarter. FIL Ltd lifted its position in shares of Teck Resources by 98.8% during the fourth quarter. FIL Ltd now owns 11,937,233 shares of the basic materials company’s stock valued at $504,588,000 after buying an additional 5,933,226 shares during the last quarter. Boston Partners boosted its holdings in shares of Teck Resources by 28.8% in the 4th quarter. Boston Partners now owns 10,881,781 shares of the basic materials company’s stock valued at $484,995,000 after buying an additional 2,432,378 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Teck Resources by 2.4% in the 1st quarter. Janus Henderson Group PLC now owns 8,604,605 shares of the basic materials company’s stock worth $394,178,000 after buying an additional 203,607 shares during the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of Teck Resources by 45.7% during the 4th quarter. Mackenzie Financial Corp now owns 6,632,418 shares of the basic materials company’s stock worth $280,491,000 after acquiring an additional 2,080,295 shares in the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Teck Resources Company Profile

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.