Teck Resources (TECK) Upgraded to Buy at Goldman Sachs Group

Teck Resources (NYSE:TECK) (TSE:TECK) was upgraded by analysts at Goldman Sachs Group from a “neutral” rating to a “buy” rating in a report issued on Monday, The Fly reports.

TECK has been the subject of a number of other reports. Canaccord Genuity reaffirmed a “buy” rating on shares of Teck Resources in a research note on Tuesday, October 30th. ValuEngine cut Teck Resources from a “hold” rating to a “sell” rating in a research note on Friday, January 4th. Deutsche Bank set a $35.00 target price on Teck Resources and gave the company a “buy” rating in a research note on Monday, December 10th. MKM Partners reissued a “buy” rating on shares of Teck Resources in a research note on Friday, October 19th. Finally, TD Securities raised Teck Resources to a “buy” rating in a research note on Thursday, December 6th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $31.57.

Shares of Teck Resources stock opened at $22.77 on Monday. The company has a quick ratio of 1.39, a current ratio of 2.30 and a debt-to-equity ratio of 0.23. Teck Resources has a 12 month low of $18.17 and a 12 month high of $30.80. The firm has a market cap of $12.98 billion, a P/E ratio of 6.64, a P/E/G ratio of 0.73 and a beta of 1.23.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Wednesday, October 24th. The basic materials company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.11). Teck Resources had a return on equity of 12.31% and a net margin of 27.35%. The company had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.40 billion. As a group, equities research analysts anticipate that Teck Resources will post 3.32 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of TECK. Cerebellum GP LLC acquired a new position in shares of Teck Resources during the fourth quarter worth about $145,000. Vanguard Group Inc boosted its position in shares of Teck Resources by 2.2% during the third quarter. Vanguard Group Inc now owns 12,748,182 shares of the basic materials company’s stock worth $307,232,000 after buying an additional 271,033 shares during the period. Marshall Wace North America L.P. acquired a new position in shares of Teck Resources during the third quarter worth about $1,701,000. Vanguard Group Inc. boosted its position in shares of Teck Resources by 2.2% during the third quarter. Vanguard Group Inc. now owns 12,748,182 shares of the basic materials company’s stock worth $307,232,000 after buying an additional 271,033 shares during the period. Finally, Lombard Odier Asset Management USA Corp boosted its position in shares of Teck Resources by 157.8% during the third quarter. Lombard Odier Asset Management USA Corp now owns 185,000 shares of the basic materials company’s stock worth $4,459,000 after buying an additional 505,000 shares during the period. 53.44% of the stock is owned by hedge funds and other institutional investors.

Teck Resources Company Profile

Teck Resources Limited researches, explores for, develops, and produces natural resources in the Americas, the Asia Pacific, and Europe. It operates through five segments: Steelmaking Coal, Copper, Zinc, Energy, and Corporate. The company's principal products comprise 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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