Teck Resources (TECK) Given “Buy” Rating at Canaccord Genuity

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Canaccord Genuity reaffirmed their buy rating on shares of Teck Resources (NYSE:TECK) (TSE:TECK) in a research report sent to investors on Tuesday.

A number of other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Teck Resources from a buy rating to a hold rating in a research note on Wednesday, July 18th. Clarkson Capital raised shares of Teck Resources from a neutral rating to a buy rating in a research note on Tuesday, September 11th. Seaport Global Securities raised shares of Teck Resources from a neutral rating to a buy rating and set a $30.00 target price on the stock in a research note on Monday, October 15th. Deutsche Bank set a $34.00 target price on shares of Teck Resources and gave the stock a buy rating in a research note on Saturday, September 22nd. Finally, ValuEngine raised shares of Teck Resources from a strong sell rating to a sell rating in a research note on Wednesday, September 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of Buy and an average price target of $30.94.

Shares of TECK stock opened at $19.25 on Tuesday. The company has a current ratio of 2.38, a quick ratio of 1.51 and a debt-to-equity ratio of 0.31. Teck Resources has a 12 month low of $18.17 and a 12 month high of $30.80. The stock has a market cap of $10.72 billion, a price-to-earnings ratio of 5.61, a PEG ratio of 0.53 and a beta of 1.43.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its earnings results on Wednesday, October 24th. The basic materials company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.11). Teck Resources had a return on equity of 12.53% and a net margin of 27.35%. The firm had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.40 billion. On average, research analysts anticipate that Teck Resources will post 3.39 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in TECK. UBS Group AG raised its stake in shares of Teck Resources by 2.9% in the 1st quarter. UBS Group AG now owns 114,558 shares of the basic materials company’s stock valued at $2,950,000 after acquiring an additional 3,218 shares during the period. A.R.T. Advisors LLC acquired a new position in shares of Teck Resources in the first quarter valued at approximately $492,000. Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of Teck Resources by 25.3% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,342 shares of the basic materials company’s stock valued at $266,000 after purchasing an additional 2,088 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Teck Resources by 44.1% in the first quarter. Allianz Asset Management GmbH now owns 2,101,783 shares of the basic materials company’s stock valued at $54,090,000 after purchasing an additional 643,226 shares in the last quarter. Finally, KAMES CAPITAL plc acquired a new position in shares of Teck Resources in the second quarter valued at approximately $1,227,000. 54.51% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Company Profile

Teck Resources Limited researches, explores for, develops, and produces natural resources in the Americas, the Asia Pacific, and Europe. It operates through five segments: Steelmaking Coal, Copper, Zinc, Energy, and Corporate. The company's principal products comprise steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.

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Analyst Recommendations for Teck Resources (NYSE:TECK)

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