Teck Resources Ltd (TECK) Now Covered by CIBC

Investment analysts at CIBC started coverage on shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) in a report issued on Friday. The brokerage set a “sector outperform” rating on the basic materials company’s stock.

Several other brokerages have also weighed in on TECK. MKM Partners reaffirmed a “buy” rating and issued a $40.00 target price on shares of Teck Resources in a research report on Tuesday, September 12th. BidaskClub lowered Teck Resources from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 28th. ValuEngine lowered Teck Resources from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 6th. Zacks Investment Research raised Teck Resources from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Thursday, October 5th. Finally, Bank of America Corporation upped their target price on Teck Resources from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating and twenty have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $30.65.

Teck Resources (NYSE TECK) opened at $21.93 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.17 and a quick ratio of 1.42. Teck Resources has a 52-week low of $14.56 and a 52-week high of $33.76. The firm has a market capitalization of $12,511.07, a PE ratio of 5.96, a price-to-earnings-growth ratio of 0.83 and a beta of 1.26.

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A number of institutional investors have recently bought and sold shares of TECK. NN Investment Partners Holdings N.V. acquired a new position in Teck Resources in the 2nd quarter valued at approximately $623,000. Aperio Group LLC acquired a new position in Teck Resources in the 2nd quarter valued at approximately $8,772,000. US Bancorp DE acquired a new position in Teck Resources in the 2nd quarter valued at approximately $320,000. APG Asset Management N.V. acquired a new position in Teck Resources in the 2nd quarter valued at approximately $5,487,000. Finally, Financial Architects Inc acquired a new position in Teck Resources in the 2nd quarter valued at approximately $123,000. 45.80% of the stock is owned by hedge funds and other institutional investors.

Teck Resources Company Profile

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.

Analyst Recommendations for Teck Resources (NYSE:TECK)

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