Teck Resources (NYSE:TECK) Price Target Raised to $50.00 at JPMorgan Chase & Co.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK had its price objective boosted by equities researchers at JPMorgan Chase & Co. from $44.00 to $50.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an "overweight" rating on the basic materials company's stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 5.93% from the company's current price.

Other research analysts have also recently issued research reports about the stock. Benchmark upped their price target on shares of Teck Resources from $50.00 to $52.00 and gave the company a "buy" rating in a report on Monday, April 8th. UBS Group started coverage on shares of Teck Resources in a research report on Tuesday, January 16th. They issued a "buy" rating on the stock. Finally, Morgan Stanley reissued an "overweight" rating and issued a $55.00 price objective on shares of Teck Resources in a research report on Thursday, April 11th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $65.04.

Teck Resources Stock Up 0.1 %

Shares of Teck Resources stock traded up $0.07 on Wednesday, hitting $47.20. The company had a trading volume of 5,068,194 shares, compared to its average volume of 3,977,216. The firm has a market capitalization of $24.09 billion, a P/E ratio of 13.76, a P/E/G ratio of 6.49 and a beta of 1.15. Teck Resources has a twelve month low of $34.38 and a twelve month high of $50.46. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.10 and a quick ratio of 0.60. The stock has a 50-day moving average of $42.60 and a 200-day moving average of $40.07.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.01. The company had revenue of $3.02 billion during the quarter, compared to analysts' expectations of $3.11 billion. Teck Resources had a net margin of 16.21% and a return on equity of 9.67%. Research analysts predict that Teck Resources will post 3.55 earnings per share for the current year.

Institutional Trading of Teck Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in TECK. Money Concepts Capital Corp bought a new position in shares of Teck Resources in the fourth quarter valued at about $29,000. Baystate Wealth Management LLC bought a new position in shares of Teck Resources in the third quarter valued at about $31,000. Creekmur Asset Management LLC bought a new position in shares of Teck Resources in the fourth quarter valued at about $35,000. JFS Wealth Advisors LLC raised its position in shares of Teck Resources by 249.0% in the third quarter. JFS Wealth Advisors LLC now owns 841 shares of the basic materials company's stock valued at $36,000 after purchasing an additional 600 shares during the period. Finally, Achmea Investment Management B.V. bought a new position in shares of Teck Resources in the first quarter valued at about $37,000. 78.06% of the stock is owned by institutional investors.

Teck Resources Company Profile

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.