Teck Resources (NYSE:TECK) Stock Rating Lowered by Wall Street Zen

Teck Resources (NYSE:TECK) (TSE:TECK) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Sunday.

Several other equities analysts have also recently commented on TECK. Weiss Ratings reissued a “hold (c+)” rating on shares of Teck Resources in a research note on Tuesday, July 21st. Scotiabank reaffirmed a “sector perform” rating on shares of Teck Resources in a research note on Monday, June 15th. JPMorgan Chase & Co. reduced their price target on shares of Teck Resources from $48.00 to $46.00 and set a “neutral” rating for the company in a research note on Thursday, July 9th. TD Securities reiterated a “hold” rating on shares of Teck Resources in a report on Friday, April 24th. Finally, Raymond James Financial upgraded shares of Teck Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday. Five analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $62.00.

Teck Resources Price Performance

Shares of NYSE TECK opened at $59.73 on Friday. Teck Resources has a fifty-two week low of $30.98 and a fifty-two week high of $71.25. The firm’s 50-day simple moving average is $61.45 and its 200 day simple moving average is $57.60. The company has a quick ratio of 2.16, a current ratio of 2.83 and a debt-to-equity ratio of 0.13. The stock has a market cap of $28.85 billion, a P/E ratio of 16.19, a P/E/G ratio of 1.78 and a beta of 0.92.

Institutional Investors Weigh In On Teck Resources

Several large investors have recently modified their holdings of the stock. Welch Group LLC boosted its position in shares of Teck Resources by 3.5% in the 4th quarter. Welch Group LLC now owns 5,899 shares of the basic materials company’s stock valued at $283,000 after purchasing an additional 199 shares during the period. Geneos Wealth Management Inc. raised its position in Teck Resources by 117.4% during the first quarter. Geneos Wealth Management Inc. now owns 561 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 303 shares in the last quarter. Compound Planning Inc. lifted its stake in shares of Teck Resources by 1.0% in the 4th quarter. Compound Planning Inc. now owns 32,266 shares of the basic materials company’s stock valued at $1,545,000 after purchasing an additional 333 shares during the last quarter. 44 Wealth Management LLC lifted its position in shares of Teck Resources by 1.3% in the fourth quarter. 44 Wealth Management LLC now owns 31,488 shares of the basic materials company’s stock worth $1,508,000 after buying an additional 411 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in Teck Resources by 5.5% in the 3rd quarter. NewEdge Advisors LLC now owns 8,635 shares of the basic materials company’s stock worth $379,000 after purchasing an additional 452 shares during the last quarter. 78.06% of the stock is owned by institutional investors.

Teck Resources Company Profile

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.