Deutsche Bank AG Purchases 92,202 Shares of Teck Resources Limited (NYSE:TECK) (2024)

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Is Teck Resources stock a good buy? ›

Teck Resources's analyst rating consensus is a Strong Buy. This is based on the ratings of 12 Wall Streets Analysts.

Institutional Ownership and Shareholders

Largest shareholders include Royal Bank Of Canada, Vanguard Group Inc, FIL Ltd, Amundi, Davis Selected Advisers, Dodge & Cox, Boston Partners, DODFX - Dodge & Cox International Stock Fund, Janus Henderson Group Plc, and Goldman Sachs Group Inc .

B, NYSE: TECK) (Teck) announced it has agreed to sell its entire interest in its steelmaking coal business, Elk Valley Resources (EVR), through a sale of a majority stake to Glencore plc (Glencore) for an implied enterprise value of US$9.0 billion, and a sale of a minority stake to Nippon Steel Corporation (NSC) and ...

The difference between Class A shares and Class B shares of a company's stock usually comes down to the number of voting rights assigned to the shareholder. Class A shareholders generally have more clout. Despite Class A shareholders almost always having more voting rights, this isn't actually a legal requirement.

Teck Resources stock dropped on rising cost of flagship copper mine: Analyst. Lucas Pipes, managing director at B. Riley Securities, joins BNN Bloomberg to discuss Teck Resources' recent Q3 2023 earnings report. The company's Q3 adjusted EPS missed estimates and they cut their copper production forecast.

21 it has changed its name to Teck Metals Corp. and would also spin off its steelmaking coal unit as Elk Valley Resources Ltd.

Teck Resources Limited, known as Teck Cominco until late 2008, is a diversified natural resources company headquartered in Vancouver, British Columbia, that is engaged in mining and mineral development, including coal for the steelmaking industry, copper, zinc, and energy.

Teck is a world leader in the production of lead and a significant producer of specialty metals such as germanium, indium and cadmium. Teck also produces and markets gold dore and silver.

The sale allows Teck to pivot to greener metals than coal, while the miner had expressed concerns about Glencore's tarnished past with regulators that had disciplined it for alleged bribery and market manipulation.

Did Teck sell its coal mines? ›

The sale of Teck's steelmaking coal business at the implied enterprise value of US$9.0 billion on a 100% basis achieves a simple and complete separation of steelmaking coal from base metals.

In the deal announced Tuesday, Glencore will pay $6.93 billion for a 77 per cent stake in Teck's business, while steelmakers Nippon Steel Corp. and Posco, which currently own minority stakes in Teck coal mines, will hold the rest.

The average price target represents 16.49% Increase from the current price of $49.17. Teck Resources's analyst rating consensus is a Strong Buy. This is based on the ratings of 12 Wall Streets Analysts.

Teck operates under dual-class structure in which the family of octogenarian mining magnate Norman Keevil owns the majority of class A “supervoting” shares, each worth 100 votes.

Teck's largest shareholder is Chinese; its next largest shareholders are American and British. A Japanese company owns 46 per cent of its voting stock.

What are the analyst and broker recommendations for Technology Minerals? The overall consensus recommendation for Technology Minerals is Strong Buy. You can view the full broker recommendation list by unlocking its StockReport.

TSE:TEC has a consensus rating of Strong Buy which is based on 133 buy ratings, 91 hold ratings and 3 sell ratings. What is TSE:TEC's price target? The average price target for TSE:TEC is C$42.32. This is based on 227 Wall Streets Analysts 12-month price targets, issued in the past 3 months.

RRC Stock Forecast FAQ

Range Resources Corp has 3.14% upside potential, based on the analysts' average price target. Range Resources Corp has a consensus rating of Hold which is based on 4 buy ratings, 9 hold ratings and 4 sell ratings. The average price target for Range Resources Corp is $37.44.