Barclays Increases Teck Resources (NYSE:TECK) Price Target to C$55.00

Teck Resources (NYSE:TECKGet Rating) (TSE:TECK) had its price target upped by analysts at Barclays from C$40.00 to C$55.00 in a research report issued to clients and investors on Thursday, The Fly reports.

Other analysts also recently issued reports about the stock. B. Riley raised their price objective on shares of Teck Resources from C$42.00 to C$48.00 in a research report on Thursday, February 3rd. Canaccord Genuity Group downgraded shares of Teck Resources from a “buy” rating to a “hold” rating and raised their price objective for the company from C$52.00 to C$54.00 in a research report on Tuesday. TD Securities raised their price objective on shares of Teck Resources from C$54.00 to C$70.00 in a research report on Monday, March 7th. Morgan Stanley raised their price objective on shares of Teck Resources from $33.00 to $47.00 and gave the company an “overweight” rating in a research report on Wednesday, March 23rd. Finally, BMO Capital Markets decreased their price objective on shares of Teck Resources from C$61.00 to C$57.00 in a research report on Tuesday, April 12th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Teck Resources currently has a consensus rating of “Buy” and an average target price of $50.68.

Shares of Teck Resources stock opened at $37.24 on Thursday. The company’s fifty day simple moving average is $39.35 and its 200-day simple moving average is $32.76. The stock has a market capitalization of $19.65 billion, a PE ratio of 8.85, a P/E/G ratio of 0.15 and a beta of 1.19. Teck Resources has a 1-year low of $19.32 and a 1-year high of $44.93. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.62 and a quick ratio of 0.99.

Teck Resources (NYSE:TECKGet Rating) (TSE:TECK) last issued its quarterly earnings results on Thursday, February 24th. The basic materials company reported $2.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.04 by ($0.02). The business had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.54 billion. Teck Resources had a return on equity of 13.80% and a net margin of 21.23%. The company’s revenue was up 72.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 EPS. As a group, research analysts anticipate that Teck Resources will post 7.2 EPS for the current year.

Institutional investors have recently bought and sold shares of the company. Optimum Investment Advisors bought a new stake in shares of Teck Resources in the 1st quarter worth about $40,000. DeDora Capital Inc. purchased a new position in shares of Teck Resources during the 1st quarter worth about $45,000. Cornerstone Advisory LLC purchased a new position in shares of Teck Resources during the 4th quarter worth about $46,000. Koshinski Asset Management Inc. purchased a new position in shares of Teck Resources during the 1st quarter worth about $70,000. Finally, Penserra Capital Management LLC purchased a new position in shares of Teck Resources during the 4th quarter worth about $68,000. Hedge funds and other institutional investors own 54.12% of the company’s stock.

About Teck Resources (Get Rating)

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, Energy, and Corporate segments. The company's principal products include steelmaking coal; copper, gold, blended bitumen, lead, silver, molybdenum, zinc, and zinc concentrates; chemicals, fertilizers, and other metals.

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