Teck Resources (NYSE:TECK) Stock Rating Upgraded by Stifel Canada

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK was upgraded by stock analysts at Stifel Canada to a "hold" rating in a report issued on Tuesday,Zacks.com reports.

TECK has been the topic of several other research reports. National Bank Financial raised Teck Resources from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th. JPMorgan Chase & Co. raised their price objective on shares of Teck Resources from $41.00 to $46.00 and gave the stock an "overweight" rating in a research note on Wednesday. Veritas raised Teck Resources to a "hold" rating in a research note on Friday, April 11th. National Bankshares raised Teck Resources from a "sector perform" rating to an "outperform" rating in a research report on Thursday, April 24th. Finally, BMO Capital Markets started coverage on Teck Resources in a research report on Wednesday, April 16th. They issued an "outperform" rating on the stock. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $65.25.

Teck Resources Stock Up 0.8%

Teck Resources stock traded up $0.30 during mid-day trading on Tuesday, hitting $38.74. The company had a trading volume of 5,157,727 shares, compared to its average volume of 3,254,352. The stock has a market cap of $18.71 billion, a price-to-earnings ratio of 66.80, a PEG ratio of 0.58 and a beta of 0.80. The company has a quick ratio of 2.57, a current ratio of 3.36 and a debt-to-equity ratio of 0.15. Teck Resources has a 1 year low of $28.32 and a 1 year high of $54.13. The business has a fifty day moving average of $37.87 and a 200 day moving average of $38.85.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Canoe Financial LP acquired a new stake in Teck Resources in the 2nd quarter worth $97,536,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Teck Resources during the second quarter valued at approximately $245,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of Teck Resources by 102.5% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,320 shares of the basic materials company's stock valued at $53,000 after purchasing an additional 668 shares in the last quarter. Douglas Lane & Associates LLC lifted its position in Teck Resources by 5.5% in the second quarter. Douglas Lane & Associates LLC now owns 1,037,976 shares of the basic materials company's stock worth $41,913,000 after purchasing an additional 54,561 shares during the period. Finally, Impala Asset Management LLC bought a new stake in Teck Resources in the 1st quarter valued at $15,811,000. Institutional investors and hedge funds own 78.06% of the company's stock.

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.