Morgan Stanley Maintains Teck Resources Ltd (USA) to Underweight with Price Target $7.00

Brokerage firm Morgan Stanley Maintains its rating on Teck Resources Ltd (USA)(NYSE:TCK). In a research note issued to the investors, the brokerage major Raises the price-target to $7.00 per share. The shares have been rated Underweight. The rating by Morgan Stanley was issued on Aug 1, 2016.

In a different note, On Jul 29, 2016, Deutsche Bank said it Maintains its rating on Teck Resources Ltd (USA). In the research note, the firm Raises the price-target to $10.00 per share. The shares have been rated ‘Sell’ by the firm. On Jul 18, 2016, Clarkson Platou said it Upgrades its rating on Teck Resources Ltd (USA). The shares have been rated ‘Buy’ by the firm. Goldman Sachs said it Initiates Coverage on Teck Resources Ltd (USA), according to a research note issued on May 19, 2016. The shares have been rated ‘Buy’ by the firm.

Teck Resources Ltd (USA) (TCK) made into the market gainers list on Mondays trading session with the shares advancing 2.77% or 0.44 points. Due to strong positive momentum, the stock ended at $16.34, which is also near the day’s high of $16.94. The stock began the session at $15.97 and the volume stood at 63,39,362 shares. The 52-week high of the shares is $16.94 and the 52 week low is $2.56. The company has a current market capitalization of $9,418 M and it has 57,64,00,000 shares in outstanding.

Teck Resources Ltd (USA)(TCK) last announced its earnings results on Jul 28, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $1.32B. Analysts had an estimated revenue of $1.75B. Earnings per share were $0.01. Analysts had estimated an EPS of $-0.01.

Teck Resources Ltd. is engaged in the business of exploring acquiring developing and producing natural resources. The Company is focused on steelmaking coal copper zinc and energy. The Company exports seaborne steelmaking coal and produces mined zinc. The Company also produces lead molybdenum silver and various specialty and other metals chemicals and fertilizers. It explores for copper from its interests in Antamina in Peru Quebrada Blanca and Carmen de Andacollo in Chile and Duck Pond in Newfoundland. The Company has around 97.5% interest in Highland Valley Copper. The Company produces mined zinc primarily from its Red Dog mine in Alaska the Antamina mine in northern Peru and its Pend Oreille mine in Washington State. Its energy assets in the Athabasca oil sands region of northeastern Alberta include its interests in the Fort Hills oil sands project Frontier oil sands project in various other oil sands leases in the exploration phase including the Lease 421 Area.

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