Teck Resources Ltd. (NYSE:TCK) was upgraded by research analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a report issued on Thursday. The brokerage presently has a $18.00 price objective on the stock, up from their prior price objective of $7.00. Morgan Stanley’s price objective points to a potential downside of 1.42% from the stock’s previous close.

Several other analysts have also issued reports on TCK. Zacks Investment Research upgraded shares of Teck Resources from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Saturday, July 9th. Raymond James Financial Inc. restated a “market perform” rating and set a $21.00 price target (up from $19.00) on shares of Teck Resources in a research report on Thursday, August 25th. Barclays PLC restated an “underweight” rating on shares of Teck Resources in a research report on Wednesday, August 3rd. Credit Suisse Group AG restated a “hold” rating on shares of Teck Resources in a research report on Tuesday, June 28th. Finally, FBR & Co restated a “hold” rating on shares of Teck Resources in a research report on Wednesday, June 15th. Seven research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $14.81.

Shares of Teck Resources (NYSE:TCK) opened at 18.26 on Thursday. The firm’s market capitalization is $10.53 billion. Teck Resources has a 52 week low of $2.56 and a 52 week high of $18.34. The stock has a 50 day moving average price of $16.11 and a 200 day moving average price of $11.73.

Teck Resources (NYSE:TCK) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.02. Teck Resources had a negative net margin of 32.87% and a positive return on equity of 0.39%. The business earned $1.74 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period in the prior year, the business posted $0.14 earnings per share. The company’s revenue was down 13.0% on a year-over-year basis. Analysts forecast that Teck Resources will post $0.45 EPS for the current year.

A number of large investors have recently modified their holdings of the company. Canada Pension Plan Investment Board boosted its stake in shares of Teck Resources by 190.3% in the first quarter. Canada Pension Plan Investment Board now owns 153,615 shares of the company’s stock valued at $1,170,000 after buying an additional 100,700 shares in the last quarter. AMP Capital Investors Ltd boosted its stake in shares of Teck Resources by 3.0% in the first quarter. AMP Capital Investors Ltd now owns 278,011 shares of the company’s stock valued at $2,180,000 after buying an additional 8,100 shares in the last quarter. Aperio Group LLC boosted its stake in shares of Teck Resources by 51.5% in the first quarter. Aperio Group LLC now owns 930,425 shares of the company’s stock valued at $7,081,000 after buying an additional 316,288 shares in the last quarter. One Capital Management LLC boosted its stake in shares of Teck Resources by 15.9% in the first quarter. One Capital Management LLC now owns 193,015 shares of the company’s stock valued at $1,469,000 after buying an additional 26,451 shares in the last quarter. Finally, LPL Financial LLC boosted its stake in shares of Teck Resources by 29.1% in the first quarter. LPL Financial LLC now owns 67,672 shares of the company’s stock valued at $507,000 after buying an additional 15,256 shares in the last quarter. Institutional investors own 49.75% of the company’s stock.

About Teck Resources

Teck Resources Limited is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company operates through five segments: steelmaking coal, copper, zinc, energy and corporate. Through its interests in mining and processing operations in Canada, the United States, Chile and Peru, the Company exports seaborne steelmaking coal and produces mined zinc.

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