Short Interest in Teck Resources Ltd (TECK) Expands By 15.5%

Short Interest in Teck Resources Ltd (TECK) Expands By 15.5%

Teck Resources Ltd (NYSE:TECK) (TSE:TCK.B) was the recipient of a large increase in short interest in February. As of February 28th, there was short interest totalling 24,571,970 shares, an increase of 15.5% from the February 15th total of 21,265,938 shares. Based on an average trading volume of 7,833,994 shares, the short-interest ratio is currently 3.1 days.

A number of equities research analysts have issued reports on the company. Scotiabank reaffirmed a “sector perform” rating and issued a $34.00 price target (up previously from $29.00) on shares of Teck Resources in a research report on Saturday, November 26th. FBR & Co raised Teck Resources from a “marketperform” rating to an “outperform” rating in a research report on Monday, January 23rd. MKM Partners assumed coverage on Teck Resources in a research report on Tuesday, December 20th. They issued a “buy” rating and a $29.00 price target on the stock. Macquarie raised Teck Resources from a “neutral” rating to an “outperform” rating in a research report on Tuesday, December 20th. Finally, Dundee Securities reaffirmed a “buy” rating and issued a $40.00 price target (up previously from $34.00) on shares of Teck Resources in a research report on Thursday, December 15th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $24.85.

Teck Resources (NYSE:TECK) opened at 21.17 on Friday. The company’s 50-day moving average price is $22.14 and its 200-day moving average price is $21.28. Teck Resources has a 1-year low of $6.55 and a 1-year high of $26.60. The stock has a market cap of $12.21 billion, a P/E ratio of 16.05 and a beta of 1.50.

About Teck Resources

Teck Resources Ltd is a Canada-based company, engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company operates through five segments: steelmaking coal, copper, zinc, energy and corporate. Through its interests in mining and processing operations in Canada, the United States, Chile and Peru, the Company exports seaborne steelmaking coal and produces mined zinc.

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