Teck Resources (NYSE:TECK) Upgraded at Weiss Ratings

Teck Resources (NYSE:TECK) (TSE:TECK) was upgraded by investment analysts at Weiss Ratings from a “sell (d+)” rating to a “hold (c)” rating in a note issued to investors on Friday,Weiss Ratings reports.

A number of other brokerages also recently weighed in on TECK. Stifel Canada raised shares of Teck Resources to a “hold” rating in a report on Tuesday, July 8th. Royal Bank Of Canada reduced their price objective on shares of Teck Resources from $82.00 to $67.00 and set an “outperform” rating for the company in a report on Friday, July 25th. Citigroup reaffirmed a “neutral” rating on shares of Teck Resources in a report on Wednesday, October 8th. Cibc World Mkts downgraded shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, July 25th. Finally, Canaccord Genuity Group downgraded shares of Teck Resources from a “buy” rating to a “hold” rating in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $54.00.

Teck Resources Price Performance

Shares of Teck Resources stock opened at $42.52 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.47 and a quick ratio of 2.45. Teck Resources has a fifty-two week low of $28.32 and a fifty-two week high of $51.34. The firm has a fifty day moving average price of $39.19 and a two-hundred day moving average price of $37.19. The company has a market cap of $20.43 billion, a PE ratio of 23.89, a price-to-earnings-growth ratio of 0.62 and a beta of 0.92.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Wednesday, October 22nd. The basic materials company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.16. Teck Resources had a net margin of 11.93% and a return on equity of 4.13%. The firm had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same period in the prior year, the firm earned $0.60 EPS. The business’s revenue was up 18.4% on a year-over-year basis. Analysts expect that Teck Resources will post 1.53 EPS for the current year.

Institutional Investors Weigh In On Teck Resources

A number of hedge funds have recently made changes to their positions in the company. Kingswood Wealth Advisors LLC acquired a new stake in shares of Teck Resources during the 3rd quarter worth about $303,000. JARISLOWSKY FRASER Ltd increased its position in shares of Teck Resources by 70.8% during the 3rd quarter. JARISLOWSKY FRASER Ltd now owns 12,059 shares of the basic materials company’s stock worth $529,000 after purchasing an additional 4,997 shares in the last quarter. Synergy Asset Management LLC acquired a new stake in shares of Teck Resources during the 3rd quarter worth about $272,000. Tectonic Advisors LLC acquired a new stake in shares of Teck Resources during the 3rd quarter worth about $1,422,000. Finally, Ninety One UK Ltd increased its position in shares of Teck Resources by 7.5% during the 3rd quarter. Ninety One UK Ltd now owns 1,590,903 shares of the basic materials company’s stock worth $69,819,000 after purchasing an additional 110,569 shares in the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

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.