Teck Resources Ltd (NYSE:TECK) Stock Has Average Target Price of $62.25

Shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) have received a consensus rating of “Hold” from the thirteen ratings firms that are currently covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $68.80.

TECK has been the subject of a number of analyst reports. Raymond James Financial raised Teck Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Teck Resources from $64.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Stifel Nicolaus lifted their price target on shares of Teck Resources from $82.00 to $95.00 and gave the stock a “hold” rating in a research note on Tuesday. Weiss Ratings upgraded shares of Teck Resources from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Finally, Wall Street Zen cut shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 26th.

Teck Resources Stock Down 2.5%

Shares of NYSE TECK opened at $62.69 on Friday. The stock has a market cap of $30.29 billion, a P/E ratio of 15.58, a PEG ratio of 2.07 and a beta of 1.01. The company has a current ratio of 3.12, a quick ratio of 2.33 and a debt-to-equity ratio of 0.12. Teck Resources has a 12-month low of $38.00 and a 12-month high of $72.56. The business’s fifty day simple moving average is $66.76 and its 200-day simple moving average is $63.01.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Thursday, July 23rd. The basic materials company reported $1.35 EPS for the quarter, topping the consensus estimate of $0.95 by $0.40. Teck Resources had a return on equity of 10.42% and a net margin of 17.85%. The firm had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same period in the previous year, the firm posted $0.38 EPS. Teck Resources’s revenue for the quarter was up 78.2% on a year-over-year basis. As a group, equities analysts predict that Teck Resources will post 4.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Teck Resources

Several institutional investors have recently modified their holdings of the company. Squarepoint Ops LLC acquired a new stake in shares of Teck Resources during the second quarter worth about $7,952,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Teck Resources in the 2nd quarter valued at about $21,425,000. Nykredit A S acquired a new stake in shares of Teck Resources in the 2nd quarter valued at about $4,338,000. NewEdge Advisors LLC boosted its position in shares of Teck Resources by 92.0% in the 1st quarter. NewEdge Advisors LLC now owns 37,143 shares of the basic materials company’s stock valued at $1,922,000 after purchasing an additional 17,793 shares during the period. Finally, HBK Investments L P boosted its position in shares of Teck Resources by 264.2% in the 2nd quarter. HBK Investments L P now owns 5,773,121 shares of the basic materials company’s stock valued at $343,270,000 after purchasing an additional 4,188,029 shares during the period. 78.06% of the stock is owned by hedge funds and other institutional investors.

Teck Resources Company Profile

Teck Resources Limited is a Canadian mining and mineral development company focused primarily on copper and zinc, commodities used in electrification, infrastructure, manufacturing and other industrial applications. The company explores for, develops and operates mines, mineral processing facilities and related infrastructure.

Teck’s copper assets include Highland Valley Copper in British Columbia, Canada; Carmen de Andacollo in Chile; and Quebrada Blanca in northern Chile. Its zinc operations include the Red Dog mine in Alaska and the Trail Operations metallurgical complex in British Columbia, which produces refined metals, alloys and other related products.