Teck Resources (NYSE:TECK) Downgraded by Wall Street Zen to Sell

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Friday.

Several other equities research analysts also recently commented on the stock. National Bankshares raised shares of Teck Resources from a "sector perform" rating to an "outperform" rating in a research note on Thursday, April 24th. National Bank Financial raised Teck Resources from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th. Stifel Canada raised Teck Resources to a "hold" rating in a research report on Tuesday, July 8th. BMO Capital Markets initiated coverage on Teck Resources in a report on Wednesday, April 16th. They set an "outperform" rating on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on Teck Resources from $41.00 to $46.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $60.75.

Teck Resources Stock Performance

Shares of TECK traded down $0.50 during trading hours on Friday, reaching $37.55. 2,475,706 shares of the company traded hands, compared to its average volume of 3,243,465. Teck Resources has a 1-year low of $28.32 and a 1-year high of $54.13. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.57 and a current ratio of 3.36. The stock has a market cap of $18.14 billion, a P/E ratio of 64.74, a price-to-earnings-growth ratio of 0.58 and a beta of 0.80. The stock's fifty day moving average is $38.21 and its 200 day moving average is $38.71.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced 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 business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the previous year, the firm earned $0.75 EPS. Teck Resources's quarterly revenue was up 41.4% on a year-over-year basis. Equities research analysts anticipate that Teck Resources will post 1.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Teck Resources

Large investors have recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its holdings in shares of Teck Resources by 69.2% during the 1st quarter. Smartleaf Asset Management LLC now owns 856 shares of the basic materials company's stock valued at $32,000 after purchasing an additional 350 shares during the last quarter. Community Bank N.A. bought a new stake in shares of Teck Resources in the 4th quarter valued at $33,000. Costello Asset Management INC acquired a new position in shares of Teck Resources during the 1st quarter valued at $33,000. Banque Cantonale Vaudoise acquired a new position in shares of Teck Resources during the 1st quarter valued at $36,000. Finally, Golden State Wealth Management LLC lifted its position in shares of Teck Resources by 7,560.0% during the 1st quarter. Golden State Wealth Management LLC now owns 1,149 shares of the basic materials company's stock valued at $42,000 after acquiring an additional 1,134 shares during the period. 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.