Teck Resources (NYSE:TECK) Shares Down 6.4%

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) shares fell 6.4% on Thursday . The stock traded as low as $19.07 and last traded at $19.17, 4,121,191 shares traded hands during trading. An increase of 52% from the average session volume of 2,703,507 shares. The stock had previously closed at $20.49.

Several brokerages have weighed in on TECK. ValuEngine cut shares of Teck Resources from a “hold” rating to a “sell” rating in a research report on Thursday. Macquarie began coverage on shares of Teck Resources in a research report on Wednesday, July 10th. They set a “neutral” rating for the company. Barclays cut shares of Teck Resources to a “positive” rating in a research report on Tuesday, April 9th. They noted that the move was a valuation call. B. Riley reissued a “buy” rating on shares of Teck Resources in a research report on Friday, July 12th. Finally, TD Securities cut shares of Teck Resources to a “buy” rating in a research report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the stock. Teck Resources presently has a consensus rating of “Buy” and a consensus price target of $29.33.

The firm has a 50-day moving average price of $21.98. The company has a quick ratio of 2.06, a current ratio of 2.47 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $11.37 billion, a PE ratio of 5.91 and a beta of 1.38.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.04). Teck Resources had a net margin of 20.37% and a return on equity of 8.49%. The business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period last year, the business earned $1.12 earnings per share. On average, research analysts expect that Teck Resources Ltd will post 2.87 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in the business. We Are One Seven LLC increased its stake in Teck Resources by 4.2% during the 2nd quarter. We Are One Seven LLC now owns 11,437 shares of the basic materials company’s stock valued at $263,000 after purchasing an additional 456 shares in the last quarter. Shell Asset Management Co. increased its stake in Teck Resources by 1.1% during the 1st quarter. Shell Asset Management Co. now owns 45,078 shares of the basic materials company’s stock valued at $1,043,000 after purchasing an additional 500 shares in the last quarter. Confluence Investment Management LLC increased its stake in Teck Resources by 2.2% during the 2nd quarter. Confluence Investment Management LLC now owns 38,485 shares of the basic materials company’s stock valued at $887,000 after purchasing an additional 815 shares in the last quarter. JCIC Asset Management Inc. increased its stake in Teck Resources by 0.3% during the 1st quarter. JCIC Asset Management Inc. now owns 294,008 shares of the basic materials company’s stock valued at $6,810,000 after purchasing an additional 960 shares in the last quarter. Finally, Signaturefd LLC increased its stake in Teck Resources by 13.6% during the 2nd quarter. Signaturefd LLC now owns 10,559 shares of the basic materials company’s stock valued at $243,000 after purchasing an additional 1,267 shares in the last quarter. Institutional investors and hedge funds own 55.19% of the company’s stock.

About Teck Resources (NYSE:TECK)

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.

Recommended Story: Net Margin – Understanding the Different Kinds of Profit

Receive News & Ratings for Teck Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teck Resources and related companies with MarketBeat.com's FREE daily email newsletter.