Teck Resources Ltd (NYSE:TECK) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) have been given an average recommendation of “Moderate Buy” by the twenty-two analysts that are covering the firm, MarketBeat reports. Twelve analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $53.3333.

TECK has been the subject of several analyst reports. Citigroup upgraded shares of Teck Resources from a “neutral” rating to a “buy” rating in a research report on Monday, February 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Teck Resources in a research note on Wednesday, January 21st. JPMorgan Chase & Co. upped their target price on shares of Teck Resources from $43.00 to $51.00 and gave the company a “neutral” rating in a research report on Friday, December 5th. Natl Bk Canada downgraded Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 5th. Finally, TD Securities cut Teck Resources from a “buy” rating to a “hold” rating in a research note on Thursday, January 22nd.

Hedge Funds Weigh In On Teck Resources

Institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc bought a new position in Teck Resources during the 3rd quarter worth approximately $26,000. Smartleaf Asset Management LLC increased its stake in Teck Resources by 72.4% in the third quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 351 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Teck Resources in the second quarter valued at approximately $49,000. SouthState Bank Corp acquired a new stake in Teck Resources in the third quarter worth $50,000. Finally, Tobam bought a new position in shares of Teck Resources during the second quarter worth $62,000. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Price Performance

Teck Resources stock opened at $54.99 on Monday. The business’s 50-day simple moving average is $49.11 and its 200 day simple moving average is $42.36. The stock has a market cap of $26.44 billion, a price-to-earnings ratio of 30.89, a P/E/G ratio of 0.55 and a beta of 0.80. Teck Resources has a 12-month low of $28.32 and a 12-month high of $60.71. The company has a quick ratio of 2.08, a current ratio of 2.78 and a debt-to-equity ratio of 0.15.

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.