Teck Resources (NYSE:TECK) Given Neutral Rating at JPMorgan Chase & Co.

Key Points

• Teck Resources has received a "neutral" rating from JPMorgan Chase & Co., with a revised price target set at $41.00, indicating a potential upside of 16.62% from its previous close.
• The company's stock ratings vary among analysts, with one sell rating, nine hold ratings, six buy ratings, and one strong buy rating, resulting in a consensus rating of "Hold" and a price target of $60.13.
• Teck Resources reported a quarterly EPS of $0.42, exceeding expectations, but noted a revenue of $1.60 billion which fell short of the anticipated $2.19 billion.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK's stock had its "neutral" rating reiterated by JPMorgan Chase & Co. in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $41.00 price objective on the basic materials company's stock, down from their previous price objective of $46.00. JPMorgan Chase & Co.'s target price indicates a potential upside of 16.62% from the stock's previous close.

Several other research firms have also issued reports on TECK. Veritas upgraded Teck Resources to a "hold" rating in a research note on Friday, April 11th. Morgan Stanley downgraded Teck Resources from an "overweight" rating to an "equal weight" rating and increased their price target for the stock from $42.00 to $44.00 in a research report on Tuesday, July 15th. Stifel Canada raised Teck Resources to a "hold" rating in a research report on Tuesday, July 8th. National Bank Financial raised Teck Resources from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. Finally, Wall Street Zen downgraded Teck Resources from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $60.13.

Teck Resources Stock Performance

Shares of NYSE TECK opened at $35.16 on Friday. The business's 50-day moving average price is $38.23 and its two-hundred day moving average price is $38.63. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.36 and a quick ratio of 2.57. Teck Resources has a one year low of $28.32 and a one year high of $54.13. The company has a market capitalization of $16.98 billion, a P/E ratio of 60.61, a price-to-earnings-growth ratio of 0.62 and a beta of 0.80.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its quarterly earnings results on Thursday, April 24th. The basic materials company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.24 by $0.18. Teck Resources had a return on equity of 4.53% and a net margin of 3.48%. The firm had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $2.19 billion. During the same quarter in the prior year, the firm posted $0.75 EPS. The company's revenue for the quarter was up 41.4% on a year-over-year basis. Analysts anticipate that Teck Resources will post 1.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Teck Resources

A number of hedge funds have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC grew its position in shares of Teck Resources by 2.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 13,959 shares of the basic materials company's stock valued at $566,000 after buying an additional 302 shares during the last quarter. Sei Investments Co. grew its position in shares of Teck Resources by 6.9% in the 4th quarter. Sei Investments Co. now owns 165,150 shares of the basic materials company's stock valued at $6,693,000 after buying an additional 10,699 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Teck Resources in the 4th quarter valued at $251,000. LPL Financial LLC grew its position in shares of Teck Resources by 5.1% in the 4th quarter. LPL Financial LLC now owns 152,327 shares of the basic materials company's stock valued at $6,174,000 after buying an additional 7,400 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Teck Resources by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 19,316,132 shares of the basic materials company's stock valued at $783,153,000 after buying an additional 58,985 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

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.

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