Citigroup Lowers Teck Resources (TECK) to Neutral

Teck Resources (NYSE:TECK) (TSE:TECK) was downgraded by equities researchers at Citigroup from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday, December 4th, Marketbeat.com reports.

A number of other research firms have also recently commented on TECK. MKM Partners reiterated a “buy” rating and issued a $40.00 target price on shares of Teck Resources in a research note on Tuesday, September 12th. BidaskClub cut shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 28th. ValuEngine cut shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 6th. Zacks Investment Research raised shares of Teck Resources from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Thursday, October 5th. Finally, CIBC started coverage on shares of Teck Resources in a research report on Friday, November 17th. They set a “sector outperform” rating for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seventeen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $28.94.

Shares of Teck Resources (NYSE TECK) opened at $23.82 on Monday. The company has a market cap of $13,355.40, a P/E ratio of 6.36, a P/E/G ratio of 0.99 and a beta of 1.31. 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 12 month low of $14.56 and a 12 month high of $26.45.

Large investors have recently bought and sold shares of the company. Capital Analysts LLC purchased a new position in shares of Teck Resources during the 2nd quarter valued at approximately $100,000. PNC Financial Services Group Inc. purchased a new stake in Teck Resources in the 2nd quarter worth $124,000. Private Advisor Group LLC purchased a new stake in Teck Resources in the 3rd quarter worth $200,000. Tower Research Capital LLC TRC purchased a new stake in Teck Resources in the 2nd quarter worth $164,000. Finally, Bourgeon Capital Management LLC purchased a new stake in Teck Resources in the 3rd quarter worth $211,000. 54.26% of the stock is owned by hedge funds and other institutional investors.

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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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