Teck Resources (NYSE:TECK) Raised to "Hold" at Wall Street Zen

Key Points

• Teck Resources was upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, reflecting a shift in analysts' sentiment towards the company.
• JPMorgan Chase & Co. maintained a "neutral" rating on Teck, lowering its price target from $46.00 to $41.00, while other analysts have varied ratings including eleven "hold" and six "buy" ratings.
• Teck Resources reported $0.27 EPS for the last quarter, surpassing the consensus estimate, although revenue fell short of expectations at $1.49 billion versus an anticipated $2.25 billion.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday.

TECK has been the topic of several other research reports. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $41.00 price objective (down previously from $46.00) on shares of Teck Resources in a report on Friday. Stifel Canada upgraded Teck Resources to a "hold" rating in a report on Tuesday, July 8th. Morgan Stanley downgraded Teck Resources from an "overweight" rating to an "equal weight" rating and boosted their price objective for the company from $42.00 to $44.00 in a report on Tuesday, July 15th. BMO Capital Markets started coverage on Teck Resources in a report on Wednesday, April 16th. They issued an "outperform" rating on the stock. Finally, Stifel Nicolaus initiated coverage on Teck Resources in a report on Wednesday, July 9th. They issued a "hold" rating on the stock. Eleven analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Teck Resources presently has a consensus rating of "Hold" and an average price target of $61.63.

Teck Resources Trading Down 6.1%

NYSE TECK opened at $33.00 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.36 and a quick ratio of 2.57. The stock has a market capitalization of $15.94 billion, a P/E ratio of 86.83, a PEG ratio of 0.56 and a beta of 0.80. Teck Resources has a 12 month low of $28.32 and a 12 month high of $54.13. The firm's 50-day moving average is $38.17 and its two-hundred day moving average is $38.58.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its quarterly earnings data on Thursday, July 24th. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.07. The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $2.25 billion. Teck Resources had a return on equity of 3.87% and a net margin of 2.51%. The company's quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.79 EPS. On average, sell-side analysts anticipate that Teck Resources will post 1.53 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Teck Resources by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 19,531,542 shares of the basic materials company's stock valued at $711,475,000 after purchasing an additional 215,410 shares during the period. Norges Bank purchased a new position in shares of Teck Resources during the fourth quarter worth approximately $470,101,000. Principal Financial Group Inc. grew its position in shares of Teck Resources by 56.9% during the first quarter. Principal Financial Group Inc. now owns 11,530,742 shares of the basic materials company's stock worth $419,970,000 after acquiring an additional 4,180,623 shares during the last quarter. Boston Partners grew its position in shares of Teck Resources by 1.9% during the first quarter. Boston Partners now owns 9,251,775 shares of the basic materials company's stock worth $337,042,000 after acquiring an additional 173,203 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Teck Resources by 4.7% during the fourth quarter. Invesco Ltd. now owns 7,711,727 shares of the basic materials company's stock worth $312,556,000 after acquiring an additional 347,235 shares during the last quarter. 78.06% of the stock is 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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