Teck Resources (NYSE:TECK) Downgraded to Hold at Deutsche Bank Aktiengesellschaft

Teck Resources (NYSE:TECK) (TSE:TECK) was downgraded by research analysts at Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating in a report released on Friday, MarketBeat.com reports. They presently have a $50.00 price target on the basic materials company’s stock. Deutsche Bank Aktiengesellschaft’s price objective points to a potential upside of 5.60% from the stock’s previous close.

Other research analysts have also issued reports about the company. Benchmark reaffirmed a “buy” rating and issued a $55.00 target price on shares of Teck Resources in a research report on Thursday, July 25th. UBS Group raised Teck Resources from a “neutral” rating to a “buy” rating and boosted their target price for the company from $76.00 to $78.00 in a research note on Wednesday, September 4th. JPMorgan Chase & Co. upped their target price on Teck Resources from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Citigroup raised Teck Resources to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Eight Capital cut Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 11th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Teck Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.29.

Teck Resources Price Performance

TECK stock opened at $47.35 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.48 and a debt-to-equity ratio of 0.19. Teck Resources has a 52-week low of $34.38 and a 52-week high of $55.13. The stock’s 50 day moving average is $48.73 and its two-hundred day moving average is $48.73. The company has a market capitalization of $24.19 billion, a PE ratio of 20.95 and a beta of 1.02.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.32. The company had revenue of $3.87 billion during the quarter, compared to analyst estimates of $2.67 billion. Teck Resources had a return on equity of 6.52% and a net margin of 9.40%. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.91 EPS. Analysts predict that Teck Resources will post 1.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Teck Resources

A number of hedge funds have recently made changes to their positions in TECK. Susquehanna Fundamental Investments LLC bought a new stake in shares of Teck Resources in the 1st quarter valued at approximately $485,000. Vanguard Group Inc. grew its stake in Teck Resources by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 16,721,130 shares of the basic materials company’s stock valued at $765,493,000 after purchasing an additional 290,034 shares during the last quarter. Country Club Bank acquired a new position in shares of Teck Resources in the 2nd quarter valued at about $1,747,000. Quattro Financial Advisors LLC acquired a new position in shares of Teck Resources in the 1st quarter valued at about $927,000. Finally, Atria Investments Inc acquired a new position in Teck Resources in the 1st quarter worth about $1,141,000. Institutional investors own 78.06% of the company’s stock.

Teck Resources Company Profile

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.