Analysts’ Recent Ratings Updates for Teck Resources (TECK)

Several brokerages have updated their recommendations and price targets on shares of Teck Resources (NYSE: TECK) in the last few weeks:

• 10/25/2024 – Teck Resources had its price target lowered by analysts at JPMorgan Chase & Co. from $57.00 to $55.00. They now have an “overweight” rating on the stock.
• 10/25/2024 – Teck Resources was downgraded by analysts at Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating. They now have a $50.00 price target on the stock.
• 10/24/2024 – Teck Resources was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 10/16/2024 – Teck Resources was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 10/15/2024 – Teck Resources had its price target raised by analysts at JPMorgan Chase & Co. from $54.00 to $57.00. They now have an “overweight” rating on the stock.
• 10/8/2024 – Teck Resources had its price target raised by analysts at Scotiabank from $78.00 to $79.00. They now have a “sector outperform” rating on the stock.
• 10/7/2024 – Teck Resources was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 10/2/2024 – Teck Resources was upgraded by analysts at Citigroup Inc. to a “hold” rating.
• 9/25/2024 – Teck Resources was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 9/17/2024 – Teck Resources was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 9/9/2024 – Teck Resources was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 9/4/2024 – Teck Resources was upgraded by analysts at UBS Group AG from a “neutral” rating to a “buy” rating. They now have a $78.00 price target on the stock, up previously from $76.00.

Teck Resources Price Performance

Shares of TECK traded up $0.86 during mid-day trading on Friday, reaching $47.35. The company had a trading volume of 142,478 shares, compared to its average volume of 3,404,519. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 0.77. The company has a market capitalization of $23.97 billion, a P/E ratio of 71.74 and a beta of 1.02. Teck Resources Limited has a twelve month low of $34.38 and a twelve month high of $55.13. The company’s 50-day moving average is $48.65 and its 200-day moving average is $48.70.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.24. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same period last year, the business earned $0.57 earnings per share. The business’s revenue was down 20.6% on a year-over-year basis. On average, equities analysts anticipate that Teck Resources Limited will post 1.91 EPS for the current year.

Hedge Funds Weigh In On Teck Resources

Institutional investors and hedge funds have recently bought and sold shares of the business. Headlands Technologies LLC bought a new stake in shares of Teck Resources during the second quarter valued at approximately $38,000. Eastern Bank acquired a new stake in shares of Teck Resources in the 3rd quarter valued at $39,000. Bruce G. Allen Investments LLC raised its position in shares of Teck Resources by 77.4% during the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock worth $46,000 after acquiring an additional 383 shares during the last quarter. Blue Trust Inc. raised its position in shares of Teck Resources by 583.1% during the second quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock worth $48,000 after acquiring an additional 898 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its stake in shares of Teck Resources by 69.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 409 shares during the period. Institutional investors and hedge funds own 78.06% of the company’s stock.

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.