Weiss Ratings Reiterates "Sell (D+)" Rating for Teck Resources (NYSE:TECK)

Key Points

• Weiss Ratings has reiterated a "Sell (D+)" rating for Teck Resources (NYSE:TECK), highlighting concerns over the stock's performance in the market.
• Teck Resources' stock price target has been adjusted, with Benchmark lowering it from $55.00 to $48.00, while JPMorgan reduced their target from $46.00 to $41.00.
• The company's latest earnings report showed an EPS of $0.27, surpassing analyst expectations, but its revenue of $1.49 billion fell short of the estimated $2.25 billion.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK's stock had its "sell (d+)" rating reiterated by equities research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Several other research firms have also issued reports on TECK. Benchmark lowered their price objective on Teck Resources from $55.00 to $48.00 and set a "buy" rating for the company in a research note on Monday, July 28th. Scotiabank reaffirmed an "outperform" rating on shares of Teck Resources in a research note on Wednesday, September 10th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $41.00 price target (down from $46.00) on shares of Teck Resources in a research note on Friday, July 25th. Citigroup reissued a "neutral" rating on shares of Teck Resources in a research note on Wednesday. Finally, Cibc World Mkts lowered Teck Resources from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $53.71.

Teck Resources Price Performance

Teck Resources stock traded up $0.62 during midday trading on Wednesday, reaching $43.02. 9,699,375 shares of the stock traded hands, compared to its average volume of 5,748,682. The stock's fifty day moving average is $36.61 and its 200-day moving average is $36.61. Teck Resources has a 12 month low of $28.32 and a 12 month high of $51.58. The stock has a market cap of $20.67 billion, a P/E ratio of 113.21, a PEG ratio of 0.53 and a beta of 0.92. The company has a quick ratio of 2.45, a current ratio of 3.47 and a debt-to-equity ratio of 0.15.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its quarterly earnings results on Thursday, July 24th. The basic materials company reported $0.27 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.07. The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $2.25 billion. Teck Resources had a return on equity of 3.91% and a net margin of 2.51%.The firm's revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.79 earnings per share. As a group, equities research analysts anticipate that Teck Resources will post 1.53 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TECK. Smartleaf Asset Management LLC raised its stake in shares of Teck Resources by 69.2% in the first quarter. Smartleaf Asset Management LLC now owns 856 shares of the basic materials company's stock valued at $32,000 after acquiring an additional 350 shares in the last quarter. Costello Asset Management INC acquired a new position in Teck Resources in the 1st quarter valued at $33,000. Banque Cantonale Vaudoise acquired a new stake in shares of Teck Resources in the 1st quarter worth $36,000. Golden State Wealth Management LLC boosted its holdings in Teck Resources by 7,560.0% in 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 purchasing an additional 1,134 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Teck Resources in the 2nd quarter valued at approximately $49,000. 78.06% of the stock is currently 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.

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