Teck Resources (TECK) Upgraded to Hold by ValuEngine
ValuEngine upgraded shares of Teck Resources (NYSE:TECK) (TSE:TECK) from a sell rating to a hold rating in a report published on Thursday morning.
Other equities analysts have also recently issued reports about the company. Deutsche Bank set a $34.00 price objective on Teck Resources and gave the stock a buy rating in a research note on Saturday, September 22nd. Goldman Sachs Group restated a hold rating on shares of Teck Resources in a research report on Sunday, October 7th. Raymond James restated a buy rating on shares of Teck Resources in a research report on Sunday, October 7th. Barclays began coverage on shares of Teck Resources in a research report on Wednesday, October 10th. They issued an overweight rating on the stock. Finally, Seaport Global Securities upgraded shares of Teck Resources from a neutral rating to a buy rating and set a $30.00 price target on the stock in a research report on Monday, October 15th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $31.57.
Shares of TECK stock traded down $0.03 during trading hours on Thursday, hitting $22.77. 2,235,033 shares of the company were exchanged, compared to its average volume of 2,554,504. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.39 and a current ratio of 2.30. Teck Resources has a one year low of $18.17 and a one year high of $30.80. The stock has a market capitalization of $12.98 billion, a price-to-earnings ratio of 6.64, a PEG ratio of 0.73 and a beta of 1.23.
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 31st. Investors of record on Friday, December 14th were given a $0.038 dividend. The ex-dividend date of this dividend was Thursday, December 13th. This represents a $0.15 annualized dividend and a yield of 0.67%. Teck Resources’s dividend payout ratio is presently 4.37%.
Large investors have recently modified their holdings of the stock. Point72 Asset Management L.P. bought a new stake in shares of Teck Resources during the third quarter valued at approximately $23,775,000. Nomura Holdings Inc. raised its stake in Teck Resources by 28.1% during the 2nd quarter. Nomura Holdings Inc. now owns 14,092 shares of the basic materials company’s stock valued at $359,000 after acquiring an additional 3,091 shares in the last quarter. NumerixS Investment Technologies Inc bought a new stake in Teck Resources during the 2nd quarter valued at $111,000. Millennium Management LLC raised its stake in Teck Resources by 38.7% during the 2nd quarter. Millennium Management LLC now owns 1,457,767 shares of the basic materials company’s stock valued at $37,100,000 after acquiring an additional 406,676 shares in the last quarter. Finally, Bank of Nova Scotia raised its stake in shares of Teck Resources by 37.7% during the second quarter. Bank of Nova Scotia now owns 2,225,489 shares of the basic materials company’s stock valued at $56,520,000 after purchasing an additional 609,807 shares in the last quarter. Hedge funds and other institutional investors own 53.44% of the company’s stock.
About Teck Resources
Teck Resources Limited researches, explores for, develops, and produces natural resources in the Americas, the Asia Pacific, and Europe. It operates through five segments: Steelmaking Coal, Copper, Zinc, Energy, and Corporate. The company's principal products comprise steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.
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