Zacks Investment Research downgraded shares of Teck Resources Ltd (NYSE:TECK) from a buy rating to a hold rating in a research report report published on Wednesday.

According to Zacks, “Teck Resources Limited is a diversified resource company committed to responsible mining and mineral development with major business units focused on copper, metallurgical coal, zinc, gold and energy. It is a world leader in the production of copper, metallurgical coal and zinc, a significant producer of gold, molybdenum and specialty metals, with interests in several oil sands development assets. Headquartered in Vancouver, Canada, the company has expertise across the full range of activities related to mining, including exploration, development, smelting, refining, safety, environmental protection, product stewardship, recycling and research. The Company is actively exploring in countries throughout the Americas, Asia Pacific, Europe and Africa. Teck Resources Limited, formerly Teck Cominco Limited, is headquartered in Vancouver, Canada. “

Several other research analysts have also issued reports on TECK. Raymond James Financial, Inc. reissued an outperform rating on shares of Teck Resources in a research note on Tuesday, August 15th. MKM Partners reissued a buy rating and set a $28.00 target price (up from $25.00) on shares of Teck Resources in a research note on Thursday, August 24th. ValuEngine lowered shares of Teck Resources from a strong-buy rating to a buy rating in a research note on Wednesday, September 6th. BidaskClub lowered shares of Teck Resources from a strong-buy rating to a buy rating in a research note on Friday, September 15th. Finally, Axiom Securities initiated coverage on shares of Teck Resources in a research note on Monday, September 18th. They issued a sell rating and a $16.00 price objective on the stock. One investment analyst has rated the stock with a sell rating and twenty-two have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of C$31.13.

Shares of Teck Resources (NYSE TECK) traded up C$0.08 during midday trading on Wednesday, reaching C$21.53. 2,460,000 shares of the company traded hands, compared to its average volume of 5,262,071. The company has a market capitalization of $12,282.87, a price-to-earnings ratio of 5.85, a PEG ratio of 0.82 and a beta of 1.26. Teck Resources has a fifty-two week low of C$14.56 and a fifty-two week high of C$33.76. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.42 and a current ratio of 2.17.

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Several hedge funds have recently made changes to their positions in the company. Comerica Bank raised its holdings in shares of Teck Resources by 6.9% in the third quarter. Comerica Bank now owns 63,544 shares of the company’s stock valued at $1,319,000 after purchasing an additional 4,108 shares during the last quarter. Oak Associates Ltd. OH raised its holdings in shares of Teck Resources by 5.3% in the third quarter. Oak Associates Ltd. OH now owns 83,874 shares of the company’s stock valued at $1,769,000 after purchasing an additional 4,250 shares during the last quarter. Capital Analysts LLC purchased a new stake in Teck Resources during the second quarter worth about $100,000. Winslow Evans & Crocker Inc. purchased a new stake in Teck Resources during the second quarter worth about $108,000. Finally, Financial Architects Inc purchased a new stake in Teck Resources during the second quarter worth about $123,000. Institutional investors own 47.08% of the company’s stock.

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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