Investment analysts at JPMorgan Chase & Co. assumed coverage on shares of Teck Resources (NYSE:TECK) (TSE:TECK) in a report issued on Wednesday, The Fly reports. The brokerage set an “overweight” rating on the basic materials company’s stock.
A number of other equities research analysts have also recently issued reports on the company. CIBC assumed coverage on Teck Resources in a research note on Wednesday, December 16th. They issued a “neutral” rating and a $25.00 target price on the stock. TD Securities lowered their price target on Teck Resources from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Wednesday, October 28th. National Bank Financial reissued an “outperform” rating on shares of Teck Resources in a report on Wednesday, January 6th. Raymond James raised their price target on Teck Resources from $23.50 to $28.00 and gave the company an “outperform” rating in a report on Friday, January 15th. Finally, Barclays lowered Teck Resources from an “overweight” rating to an “equal weight” rating in a report on Wednesday, January 6th. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $20.83.
TECK stock opened at $19.02 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.67 and a current ratio of 1.34. The stock has a market capitalization of $9.95 billion, a price-to-earnings ratio of -10.69 and a beta of 1.27. Teck Resources has a 1 year low of $5.60 and a 1 year high of $21.34. The stock’s fifty day moving average is $18.94 and its two-hundred day moving average is $15.09.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Korea Investment CORP increased its stake in Teck Resources by 22.1% in the 4th quarter. Korea Investment CORP now owns 269,900 shares of the basic materials company’s stock worth $4,894,000 after purchasing an additional 48,900 shares in the last quarter. Barometer Capital Management Inc. purchased a new position in Teck Resources in the 4th quarter worth about $4,656,000. Wells Fargo & Company MN increased its stake in Teck Resources by 21.1% in the 4th quarter. Wells Fargo & Company MN now owns 38,584 shares of the basic materials company’s stock worth $700,000 after purchasing an additional 6,727 shares in the last quarter. NewGen Asset Management Ltd purchased a new position in Teck Resources in the 4th quarter worth about $1,289,000. Finally, Blair William & Co. IL increased its stake in Teck Resources by 12.1% in the 4th quarter. Blair William & Co. IL now owns 13,526 shares of the basic materials company’s stock worth $245,000 after purchasing an additional 1,460 shares in the last quarter. 47.07% of the stock is currently owned by hedge funds and other institutional investors.
Teck Resources Company Profile
Teck Resources Limited researches, explores for, develops, and produces natural resources in the Asia Pacific, the Americas, and Europe. It operates through Steelmaking Coal, Copper, Zinc, and Energy segments. The company’s principal products include steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead and molybdenum concentrates.
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