Teck Resources (NYSE:TECK) Downgraded to "Buy" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Teck Resources from “strong-buy” to “buy,” reflecting a modestly less bullish analyst view on the stock.
• Broader analyst sentiment remains cautious: Teck now has an average “Hold” rating with a consensus price target of $62.00, while several firms have recently issued or maintained hold/neutral views.
• Recent company news has been more positive, with Q2 earnings and revenue beating estimates, a quarterly dividend declared, and Teck maintaining full-year zinc guidance despite weaker Red Dog output.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK was downgraded by Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued on Sunday.

TECK has been the topic of a number of other reports. Veritas lowered Teck Resources from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 4th. Weiss Ratings reissued a "hold (c+)" rating on shares of Teck Resources in a research report on Tuesday. TD Securities restated a "hold" rating on shares of Teck Resources in a research note on Friday, April 24th. Deutsche Bank Aktiengesellschaft upped their price target 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. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Teck Resources from $48.00 to $46.00 and set a "neutral" rating on the stock in a research note on Thursday, July 9th. Five equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $62.00.

Teck Resources Price Performance

Shares of TECK opened at $60.30 on Friday. Teck Resources has a fifty-two week low of $30.98 and a fifty-two week high of $71.25. The firm's 50 day moving average price is $61.46 and its 200 day moving average price is $57.49. The company has a quick ratio of 2.16, a current ratio of 2.83 and a debt-to-equity ratio of 0.13. The company has a market cap of $29.12 billion, a P/E ratio of 16.34, a PEG ratio of 1.78 and a beta of 0.92.

Institutional Trading of Teck Resources

Several institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted its holdings in shares of Teck Resources by 11.1% in the 1st quarter. AQR Capital Management LLC now owns 34,705 shares of the basic materials company's stock valued at $1,264,000 after buying an additional 3,458 shares during the period. Jones Financial Companies Lllp lifted its holdings in Teck Resources by 453.0% in the first quarter. Jones Financial Companies Lllp now owns 9,721 shares of the basic materials company's stock worth $354,000 after acquiring an additional 7,963 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Teck Resources by 1.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 465,861 shares of the basic materials company's stock worth $16,971,000 after acquiring an additional 8,146 shares during the last quarter. Marshall Wace LLP lifted its holdings in Teck Resources by 189.3% in the second quarter. Marshall Wace LLP now owns 218,242 shares of the basic materials company's stock worth $8,813,000 after acquiring an additional 142,816 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its stake in Teck Resources by 4,602.9% in the second quarter. NewEdge Advisors LLC now owns 8,183 shares of the basic materials company's stock valued at $330,000 after acquiring an additional 8,009 shares during the period. Institutional investors own 78.06% of the company's stock.

Key Teck Resources News

Here are the key news stories impacting Teck Resources this week:

• Positive Sentiment: Teck’s Q2 earnings and revenue beat expectations, driven by stronger copper and zinc prices, higher sales volumes, and margin expansion. Teck Resources Q2 Earnings Beat Estimates, Sales & Margins Improve Y/Y
• Positive Sentiment: The company reported a sharp jump in quarterly profit on higher copper production and commodity prices, reinforcing optimism around Teck’s core metals business. Teck earns $854M Q2 profit, reports copper production up and higher commodity prices
• Positive Sentiment: Teck’s board declared a quarterly dividend of $0.125 per share, signaling continued cash generation and shareholder returns. Teck Announces Dividend
• Neutral Sentiment: Red Dog zinc output fell 18% in the quarter, though Teck said it is advancing a mine-life extension study and maintained full-year zinc guidance. Teck’s Red Dog Q2 Zinc Output Falls 18% as Mine-Life Extension PFS Advances
• Neutral Sentiment: Teck maintained its full-year zinc guidance despite the weaker Red Dog output, limiting concerns about near-term production disruption. Teck’s Q2 Zinc Gross Profit Rises to $353 Million; Full-Year Zinc Guidance Maintained

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.

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