Teck Resources (NYSE:TECK) Price Target Raised to $95.00

Teck Resources (NYSE:TECK) (TSE:TECK) had its price objective hoisted by equities research analysts at Stifel Nicolaus from $82.00 to $95.00 in a report issued on Tuesday, BayStreet reports. The brokerage presently has a “hold” rating on the basic materials company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 46.90% from the stock’s current price.

Several other analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 26th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Teck Resources from $64.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. JPMorgan Chase & Co. raised their price objective on shares of Teck Resources from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 28th. Weiss Ratings upgraded Teck Resources from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Finally, Raymond James Financial raised Teck Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday, July 23rd. Six investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, Teck Resources has an average rating of “Hold” and a consensus price target of $68.80.

Teck Resources Price Performance

NYSE TECK traded up $1.19 during trading hours on Tuesday, reaching $64.67. The company’s stock had a trading volume of 1,433,654 shares, compared to its average volume of 3,520,717. The stock has a market cap of $31.25 billion, a PE ratio of 17.56, a PEG ratio of 2.08 and a beta of 1.01. Teck Resources has a fifty-two week low of $38.00 and a fifty-two week high of $72.56. The company’s 50-day moving average is $66.86 and its two-hundred day moving average is $62.87. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.33 and a current ratio of 3.12.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its earnings results on Thursday, July 23rd. The basic materials company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.40. The firm had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.38 billion. Teck Resources had a net margin of 17.85% and a return on equity of 10.42%. The firm’s revenue for the quarter was up 78.2% on a year-over-year basis. During the same period last year, the firm posted $0.38 EPS. Analysts forecast that Teck Resources will post 4.28 EPS for the current year.

Institutional Trading of Teck Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. increased its holdings in shares of Teck Resources by 117.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 561 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 303 shares during the last quarter. Welch Group LLC lifted its holdings in Teck Resources by 6.2% in the 1st quarter. Welch Group LLC now owns 6,266 shares of the basic materials company’s stock worth $324,000 after purchasing an additional 367 shares during the last quarter. Blue Trust Inc. lifted its holdings in Teck Resources by 411.8% in the 1st quarter. Blue Trust Inc. now owns 563 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 453 shares during the last quarter. Elevation Point Wealth Partners LLC lifted its holdings in Teck Resources by 8.9% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 5,720 shares of the basic materials company’s stock worth $296,000 after purchasing an additional 466 shares during the last quarter. Finally, AMG National Trust Bank lifted its holdings in Teck Resources by 13.1% in the 1st quarter. AMG National Trust Bank now owns 5,531 shares of the basic materials company’s stock worth $286,000 after purchasing an additional 640 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Company Profile

Teck Resources Limited is a Canadian mining and mineral development company focused primarily on copper and zinc, commodities used in electrification, infrastructure, manufacturing and other industrial applications. The company explores for, develops and operates mines, mineral processing facilities and related infrastructure.

Teck’s copper assets include Highland Valley Copper in British Columbia, Canada; Carmen de Andacollo in Chile; and Quebrada Blanca in northern Chile. Its zinc operations include the Red Dog mine in Alaska and the Trail Operations metallurgical complex in British Columbia, which produces refined metals, alloys and other related products.