Teck Resources (NYSE:TECK) Price Target Increased to C$64.00 by Analysts at Scotiabank

Teck Resources (NYSE:TECKGet Rating) (TSE:TECK) had its price target boosted by equities researchers at Scotiabank from C$63.00 to C$64.00 in a report released on Tuesday, The Fly reports.

A number of other equities research analysts have also recently commented on the stock. B. Riley increased their target price on shares of Teck Resources from C$42.00 to C$48.00 in a research report on Thursday, February 3rd. BMO Capital Markets decreased their price objective on Teck Resources from C$61.00 to C$57.00 in a report on Tuesday, April 12th. Canaccord Genuity Group lowered Teck Resources from a “buy” rating to a “hold” rating and upped their target price for the company from C$52.00 to C$54.00 in a research report on Tuesday. Raymond James raised their price target on Teck Resources from C$52.00 to C$58.00 in a report on Thursday, March 31st. Finally, Morgan Stanley raised their price target on shares of Teck Resources from $33.00 to $47.00 and gave the stock an “overweight” rating in a report on Wednesday, March 23rd. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $50.13.

TECK stock traded down $1.40 during trading on Tuesday, hitting $42.99. The company had a trading volume of 223,393 shares, compared to its average volume of 5,545,295. The firm has a market capitalization of $22.68 billion, a P/E ratio of 10.25, a PEG ratio of 0.15 and a beta of 1.19. The company has a 50 day simple moving average of $38.96 and a 200-day simple moving average of $32.43. Teck Resources has a 52-week low of $19.32 and a 52-week high of $44.93. The company has a quick ratio of 0.99, a current ratio of 1.62 and a debt-to-equity ratio of 0.30.

Teck Resources (NYSE:TECKGet Rating) (TSE:TECK) last announced its earnings results on Thursday, February 24th. The basic materials company reported $2.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by ($0.02). The company had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.54 billion. Teck Resources had a net margin of 21.23% and a return on equity of 13.80%. The firm’s revenue was up 72.1% compared to the same quarter last year. During the same period last year, the business posted $0.35 EPS. Sell-side analysts forecast that Teck Resources will post 7.2 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in the stock. Optimum Investment Advisors purchased a new stake in Teck Resources in the first quarter valued at approximately $40,000. DeDora Capital Inc. acquired a new position in shares of Teck Resources in the first quarter valued at approximately $45,000. Cornerstone Advisory LLC purchased a new stake in Teck Resources in the fourth quarter valued at approximately $46,000. Penserra Capital Management LLC purchased a new stake in Teck Resources in the fourth quarter valued at approximately $68,000. Finally, Ahrens Investment Partners LLC purchased a new stake in Teck Resources during the fourth quarter worth approximately $72,000. Hedge funds and other institutional investors own 54.12% of the company’s stock.

Teck Resources Company Profile (Get Rating)

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. It operates through Steelmaking Coal, Copper, Zinc, Energy, and Corporate segments. The company's principal products include steelmaking coal; copper, gold, blended bitumen, lead, silver, molybdenum, zinc, and zinc concentrates; chemicals, fertilizers, and other metals.

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