Teck Resources (TECK) Upgraded to “Focus List” at Scotiabank

Teck Resources (NYSE:TECK) (TSE:TECK) was upgraded by stock analysts at Scotiabank from an “outperform” rating to a “focus list” rating in a research report issued to clients and investors on Monday, January 8th, The Fly reports.

TECK has been the topic of a number of other reports. BidaskClub downgraded shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a report on Friday, September 15th. MKM Partners reiterated a “buy” rating and issued a $40.00 price target on shares of Teck Resources in a report on Tuesday, September 12th. Deutsche Bank reiterated a “buy” rating and issued a $26.00 price target (up from $24.00) on shares of Teck Resources in a report on Monday, September 25th. Zacks Investment Research upgraded shares of Teck Resources from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Thursday, October 5th. Finally, Bank of America lifted their price target on shares of Teck Resources from $27.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $28.94.

Teck Resources (NYSE:TECK) opened at $29.11 on Monday. The firm has a market cap of $16,910.00, a price-to-earnings ratio of 8.59, a PEG ratio of 1.33 and a beta of 1.31. Teck Resources has a one year low of $14.56 and a one year high of $30.79. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.42 and a current ratio of 2.17.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Thursday, October 26th. The basic materials company reported $0.86 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.95 by ($0.09). Teck Resources had a return on equity of 15.16% and a net margin of 19.72%. equities research analysts forecast that Teck Resources will post 3.67 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in TECK. Bank of Nova Scotia purchased a new stake in Teck Resources in the 2nd quarter valued at about $27,111,000. The Manufacturers Life Insurance Company purchased a new stake in Teck Resources in the 2nd quarter valued at about $73,078,000. Shell Asset Management Co. boosted its position in Teck Resources by 175.3% in the 3rd quarter. Shell Asset Management Co. now owns 152,720 shares of the basic materials company’s stock valued at $3,239,000 after buying an additional 97,242 shares during the period. Commerzbank Aktiengesellschaft FI raised its holdings in shares of Teck Resources by 74.6% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 153,322 shares of the basic materials company’s stock valued at $3,234,000 after purchasing an additional 65,519 shares in the last quarter. Finally, Hillsdale Investment Management Inc. raised its holdings in shares of Teck Resources by 201.4% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 508,794 shares of the basic materials company’s stock valued at $10,720,000 after purchasing an additional 340,000 shares in the last quarter. 53.04% of the stock is owned by hedge funds and other institutional investors.

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About Teck Resources

Teck Resources Ltd is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company’s activities are organized into business units that are focused on steelmaking coal, copper, zinc and energy. It operates in five segments: steelmaking coal, copper, zinc, energy and corporate.

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