Teck Resources Ltd (NYSE:TECK) Given Consensus Recommendation of “Moderate Buy” by Analysts

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) has been given an average recommendation of “Moderate Buy” by the twenty-one ratings firms that are currently covering the firm, Marketbeat Ratings reports. Twelve research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $53.3333.

Several brokerages have recently weighed in on TECK. Weiss Ratings restated a “hold (c)” rating on shares of Teck Resources in a research report on Wednesday, January 21st. Natl Bk Canada cut shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 5th. TD Securities lowered Teck Resources from a “buy” rating to a “hold” rating in a report on Thursday, January 22nd. Citigroup upgraded Teck Resources from a “neutral” rating to a “buy” rating in a research report on Monday, February 2nd. Finally, Veritas raised Teck Resources from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 15th.

Teck Resources Trading Up 0.7%

TECK opened at $58.97 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.08 and a current ratio of 2.78. Teck Resources has a one year low of $28.32 and a one year high of $60.75. The company has a market cap of $28.39 billion, a P/E ratio of 33.13, a PEG ratio of 0.55 and a beta of 0.80. The business’s 50-day simple moving average is $50.57 and its 200-day simple moving average is $43.11.

Hedge Funds Weigh In On Teck Resources

Institutional investors have recently modified their holdings of the business. Brown Brothers Harriman & Co. bought a new position in shares of Teck Resources during the fourth quarter valued at $25,000. Versant Capital Management Inc purchased a new position in shares of Teck Resources in the third quarter worth $26,000. Smartleaf Asset Management LLC lifted its stake in Teck Resources by 72.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 351 shares during the period. SouthState Bank Corp bought a new position in Teck Resources during the third quarter valued at approximately $50,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Teck Resources during the 2nd quarter valued at $49,000. 78.06% of the stock is owned by institutional investors and hedge funds.

About Teck Resources

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.