Teck Resources (NYSE:TECK) Shares Gap Down to $16.55

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) gapped down before the market opened on Wednesday . The stock had previously closed at $17.11, but opened at $16.55. Teck Resources shares last traded at $15.92, with a volume of 2,891,700 shares traded.

A number of equities research analysts have recently commented on the company. ValuEngine lowered Teck Resources from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Royal Bank of Canada lowered Teck Resources to a “buy” rating and set a $35.00 price target on the stock. in a research report on Friday, October 25th. Clarkson Capital reaffirmed a “neutral” rating on shares of Teck Resources in a research report on Monday, September 23rd. Barclays set a $33.00 price target on Teck Resources and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, B. Riley set a $39.00 price target on Teck Resources and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company’s stock. Teck Resources presently has a consensus rating of “Buy” and a consensus price target of $30.50.

The company has a quick ratio of 1.28, a current ratio of 2.08 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $9.28 billion, a P/E ratio of 5.07 and a beta of 1.45. The stock has a fifty day moving average of $16.31 and a 200-day moving average of $19.23.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.11. The business had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.31 billion. Teck Resources had a return on equity of 8.07% and a net margin of 13.28%. During the same period last year, the company earned $0.80 earnings per share. Sell-side analysts predict that Teck Resources Ltd will post 2.29 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Teck Resources by 2.7% during the second quarter. Vanguard Group Inc. now owns 14,611,874 shares of the basic materials company’s stock worth $336,950,000 after buying an additional 388,362 shares in the last quarter. Letko Brosseau & Associates Inc. grew its holdings in shares of Teck Resources by 4.4% during the third quarter. Letko Brosseau & Associates Inc. now owns 14,037,271 shares of the basic materials company’s stock worth $227,735,000 after buying an additional 589,326 shares in the last quarter. Beutel Goodman & Co Ltd. grew its holdings in shares of Teck Resources by 90,312.3% during the third quarter. Beutel Goodman & Co Ltd. now owns 9,854,036 shares of the basic materials company’s stock worth $7,251,000 after buying an additional 9,843,137 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Teck Resources by 1.6% during the second quarter. CIBC Asset Management Inc now owns 7,966,013 shares of the basic materials company’s stock worth $183,825,000 after buying an additional 127,161 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in shares of Teck Resources by 28.8% during the second quarter. BlackRock Inc. now owns 4,549,382 shares of the basic materials company’s stock worth $104,909,000 after buying an additional 1,016,448 shares in the last quarter. Institutional investors and hedge funds own 55.43% 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.

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