Teck Resources (NYSE:TECK – Get Free Report) (TSE:TECK)‘s stock had its “buy” rating reaffirmed by equities researchers at Benchmark in a research note issued on Tuesday, Benzinga reports. They currently have a $50.00 price objective on the basic materials company’s stock. Benchmark’s price target would suggest a potential upside of 21.86% from the company’s current price.
TECK has been the topic of several other reports. StockNews.com began coverage on shares of Teck Resources in a report on Monday. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of Teck Resources from $46.00 to $48.00 in a report on Wednesday, July 5th. Wolfe Research downgraded shares of Teck Resources from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, July 11th. Scotiabank dropped their target price on shares of Teck Resources from C$70.00 to C$69.00 in a research note on Friday, July 28th. Finally, Stifel Nicolaus dropped their target price on shares of Teck Resources from C$72.00 to C$68.00 in a research note on Monday, July 10th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $63.26.
View Our Latest Stock Analysis on TECK
Teck Resources Stock Performance
Teck Resources (NYSE:TECK – Get Free Report) (TSE:TECK) last posted its earnings results on Thursday, July 27th. The basic materials company reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.06). Teck Resources had a return on equity of 11.24% and a net margin of 11.39%. The business had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.77 billion. On average, equities research analysts forecast that Teck Resources will post 3.98 EPS for the current fiscal year.
Institutional Investors Weigh In On Teck Resources
A number of hedge funds and other institutional investors have recently bought and sold shares of TECK. Nvwm LLC purchased a new stake in Teck Resources during the first quarter valued at approximately $26,000. Park Place Capital Corp purchased a new stake in Teck Resources during the second quarter valued at approximately $27,000. Money Concepts Capital Corp purchased a new stake in Teck Resources during the fourth quarter valued at approximately $29,000. Optimum Investment Advisors lifted its position in Teck Resources by 60.0% during the second quarter. Optimum Investment Advisors now owns 800 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 300 shares during the last quarter. Finally, Achmea Investment Management B.V. purchased a new stake in Teck Resources during the first quarter valued at approximately $37,000. Hedge funds and other institutional investors own 59.23% 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. It operates through Steelmaking Coal, Copper, Zinc, and Energy segments. The company's principal products include copper, zinc, steelmaking coal, and blended bitumen.
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