Teck Resources (NYSE:TECK) Downgraded to Buy Rating by Wall Street Zen

Wall Street Zen lowered shares of Teck Resources (NYSE:TECK) (TSE:TECK) from a strong-buy rating to a buy rating in a report released on Sunday morning.

Several other brokerages also recently issued reports on TECK. Raymond James Financial upgraded shares of Teck Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday. JPMorgan Chase & Co. lowered their price objective on shares of Teck Resources from $48.00 to $46.00 and set a “neutral” rating for the company in a research report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Teck Resources from $64.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Zacks Research cut shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Finally, TD Securities restated a “hold” rating on shares of Teck Resources in a research report on Friday, April 24th. Five research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $62.00.

Teck Resources Price Performance

Shares of TECK stock opened at $60.30 on Friday. The stock’s fifty day moving average is $61.46 and its 200-day moving average is $57.54. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.16 and a current ratio of 2.83. The stock has a market capitalization of $29.12 billion, a PE ratio of 16.34, a PEG ratio of 1.78 and a beta of 0.92. Teck Resources has a 52 week low of $30.98 and a 52 week high of $71.25.

Teck Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Teck Resources’s payout ratio is currently 9.76%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TECK. PensionDanmark Pensionsforsikringsaktieselskab grew its position in shares of Teck Resources by 2.8% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 191,700 shares of the basic materials company’s stock worth $11,413,000 after buying an additional 5,220 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Teck Resources by 23.6% during the second quarter. Assenagon Asset Management S.A. now owns 17,299 shares of the basic materials company’s stock worth $1,030,000 after buying an additional 3,302 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Teck Resources by 86.5% in the second quarter. Versant Capital Management Inc now owns 1,587 shares of the basic materials company’s stock valued at $94,000 after buying an additional 736 shares during the period. Brandywine Financial Group acquired a new position in Teck Resources in the first quarter valued at approximately $5,251,000. Finally, Rathbones Group PLC boosted its stake in Teck Resources by 80.8% in the first quarter. Rathbones Group PLC now owns 8,648 shares of the basic materials company’s stock valued at $447,000 after acquiring an additional 3,865 shares during the last quarter. Institutional investors own 78.06% of the company’s stock.

More Teck Resources News

Here are the key news stories impacting Teck Resources this week:

• Positive Sentiment: Teck’s Q2 earnings and revenue beat expectations, driven by stronger copper and zinc prices, higher sales volumes, and margin expansion. Teck Resources Q2 Earnings Beat Estimates, Sales & Margins Improve Y/Y
• Positive Sentiment: The company reported a sharp jump in quarterly profit on higher copper production and commodity prices, reinforcing optimism around Teck’s core metals business. Teck earns $854M Q2 profit, reports copper production up and higher commodity prices
• Positive Sentiment: Teck’s board declared a quarterly dividend of $0.125 per share, signaling continued cash generation and shareholder returns. Teck Announces Dividend
• Neutral Sentiment: Red Dog zinc output fell 18% in the quarter, though Teck said it is advancing a mine-life extension study and maintained full-year zinc guidance. Teck’s Red Dog Q2 Zinc Output Falls 18% as Mine-Life Extension PFS Advances
• Neutral Sentiment: Teck maintained its full-year zinc guidance despite the weaker Red Dog output, limiting concerns about near-term production disruption. Teck’s Q2 Zinc Gross Profit Rises to $353 Million; Full-Year Zinc Guidance Maintained

Teck Resources Company Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.