Teck Resources (NYSE:TECK) Now Covered by BMO Capital Markets

Stock analysts at BMO Capital Markets started coverage on shares of Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK in a research note issued on Wednesday, MarketBeat Ratings reports. The brokerage set an "outperform" rating on the basic materials company's stock.

TECK has been the subject of several other research reports. Raymond James decreased their price target on shares of Teck Resources from $75.00 to $70.00 and set an "outperform" rating for the company in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. dropped their price target on Teck Resources from $50.00 to $41.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Desjardins began coverage on Teck Resources in a research note on Friday, April 4th. They set a "buy" rating for the company. Veritas upgraded Teck Resources to a "hold" rating in a research note on Friday, April 11th. Finally, Bank of America boosted their price target on shares of Teck Resources from $62.00 to $64.00 and gave the company a "buy" rating in a research report on Monday, March 10th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $64.11.

Teck Resources Stock Performance

Shares of NYSE TECK traded down $0.54 during midday trading on Wednesday, reaching $32.37. The company's stock had a trading volume of 901,226 shares, compared to its average volume of 3,173,795. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. The stock has a market capitalization of $16.02 billion, a P/E ratio of 58.86 and a beta of 0.81. The firm has a 50 day moving average price of $38.42 and a 200-day moving average price of $42.69. Teck Resources has a 12-month low of $28.32 and a 12-month high of $55.13.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.07. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $2.58 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. As a group, equities analysts predict that Teck Resources will post 1.53 earnings per share for the current year.

Institutional Investors Weigh In On Teck Resources

Several large investors have recently added to or reduced their stakes in TECK. Stonebridge Financial Group LLC bought a new position in Teck Resources in the fourth quarter worth approximately $25,000. FPC Investment Advisory Inc. bought a new stake in shares of Teck Resources in the fourth quarter valued at about $27,000. Global Trust Asset Management LLC purchased a new stake in Teck Resources in the fourth quarter worth about $27,000. Wilmington Savings Fund Society FSB bought a new position in Teck Resources during the 3rd quarter worth about $40,000. Finally, Community Bank N.A. purchased a new position in Teck Resources during the 4th quarter valued at about $33,000. 78.06% of the stock is owned by hedge funds and other institutional investors.

About Teck Resources

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.