Teck Resources (NYSE:TECK) Given New $48.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. raised its price target on Teck from $45 to $48 while maintaining a "neutral" rating; the new target implies about a 17.67% downside from the stock's current price.
• The analyst consensus is an average "Hold" rating with an average price target of $59.17, based on 1 Strong Buy, 5 Buy and 13 Hold recommendations.
• Teck traded at $58.30 (market cap ≈ $28.1B) and reported quarterly EPS of $0.98 versus $0.59 expected, with revenue of $2.23B—slightly below estimates but up 9.8% year‑over‑year.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK had its price objective lifted by equities research analysts at JPMorgan Chase & Co. from $45.00 to $48.00 in a research report issued on Friday,Benzinga reports. The firm presently has a "neutral" rating on the basic materials company's stock. JPMorgan Chase & Co.'s target price indicates a potential downside of 17.67% from the stock's current price.

A number of other research firms have also weighed in on TECK. TD Securities reiterated a "hold" rating on shares of Teck Resources in a research note on Friday, April 24th. Zacks Research lowered Teck Resources from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 22nd. UBS Group reiterated a "buy" rating on shares of Teck Resources in a research note on Tuesday, January 27th. Truist Financial set a $67.00 target price on Teck Resources in a research note on Monday, February 23rd. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $62.00 price target on shares of Teck Resources in a research note on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $59.17.

Teck Resources Trading Down 0.2%

TECK stock traded down $0.13 during midday trading on Friday, reaching $58.30. The company's stock had a trading volume of 1,522,193 shares, compared to its average volume of 4,184,358. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.16 and a current ratio of 2.83. The stock has a fifty day simple moving average of $54.53 and a two-hundred day simple moving average of $49.92. Teck Resources has a 1 year low of $30.98 and a 1 year high of $63.26. The firm has a market capitalization of $28.10 billion, a price-to-earnings ratio of 21.36, a PEG ratio of 2.91 and a beta of 0.85.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its earnings results on Thursday, February 19th. The basic materials company reported $0.98 earnings per share for the quarter, topping analysts' consensus estimates of $0.59 by $0.39. Teck Resources had a return on equity of 7.94% and a net margin of 14.91%.The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same quarter last year, the firm posted $0.45 earnings per share. The business's revenue was up 9.8% compared to the same quarter last year. On average, equities research analysts predict that Teck Resources will post 2.59 EPS for the current year.

Institutional Investors Weigh In On Teck Resources

Institutional investors have recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. bought a new stake in Teck Resources during the fourth quarter valued at about $25,000. Blue Trust Inc. boosted its position in Teck Resources by 411.8% during the first quarter. Blue Trust Inc. now owns 563 shares of the basic materials company's stock valued at $29,000 after purchasing an additional 453 shares in the last quarter. Versant Capital Management Inc bought a new stake in Teck Resources during the third quarter valued at about $26,000. Smartleaf Asset Management LLC grew its stake in shares of Teck Resources by 72.4% during the third quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company's stock worth $37,000 after acquiring an additional 351 shares during the last quarter. Finally, SouthState Bank Corp purchased a new stake in shares of Teck Resources during the third quarter worth about $50,000. Institutional investors own 78.06% of the company's stock.

About Teck Resources

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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