Teck Resources Ltd (USA) (TCK) Wows Wall Street As Stock Rebounds 22%

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Yesterday, shares of Teck Resources Ltd (USA) (NYSE:TCK) fell sharply as the company released their quarterly results. Today though, the stock is almost mysteriously up over 22%.

While the reasoning for the day’s upward movement may seem mysterious on the surface, once examined further it makes more sense. Quite simlply, the quarterly numbers which were released yesterday morning were actually pretty positive. Were investors confused of what to make of the numbers initially and then realized that it wasn’t as bad as they originally thought? It appears so.

While commodity stocks as a sector are all pretty much up today, Teck Resources Ltd (USA) (NYSE:TCK) has far exceeded them all when it comes to the stock surge. This was a tricky past quarter for the company, as commodities themselves have been acting very abnormal. It will be interesting to see if today’s gains can hold.

The stock is up 22.90% or $0.84 following the news, hitting $4.53 per share. About 7.11M shares traded hands. TCK has declined 58.77% since July 9, 2015 and is downtrending. It has underperformed the S&P500 by 49.30%.

From a total of 7 analysts covering Teck Resources (NYSE:TCK) stock, 2 rate it a “Buy”, 2 a “Sell”, and 3 a “Hold”. This means that 29% of the ratings are positive. The highest target price is $14 while the lowest target price is $4. The mean of all analyst targets is $7.54 which is 66.45% above today’s ($4.53) stock price. Teck Resources was the topic of 11 analyst reports since July 23, 2015 according to the firm StockzIntelligence Inc. Barclays Capital downgraded shares on January 14 to a “Underweight” rating. BB&T Capital upgraded TCK stock in a recent report from October 23 to a “Buy” rating. Finally, FBR Capital maintained the stock with a “Buy” rating in a report they issued on a September 21.

Teck Resources Ltd. is engaged in the business of exploring, acquiring, developing and producing natural resources. The company has a market cap of $2.49 billion. The Firm is focused on steelmaking coal, copper, zinc and energy. It currently has negative earnings. The Firm exports seaborne steelmaking coal and produces mined zinc.

#focuskw=’Teck Resources Ltd (USA) (NYSE:TCK)’##metadesc=’Yesterday, shares of Teck Resources Ltd (USA) (NYSE:TCK) fell sharply as the company released their quarterly results. Today though, the stock is almost mysteriously up over 22%.

While the reasoning for the day’s upward movement may seem mysterious on the surface, once examined further it makes more sense. Quite simlply, the quarterly numbers which were released yesterday morning were actually pretty positive. Were investors confused of what to make of the numbers initially and then realized that it wasn’t as bad as they originally thought? It appears so.

While commodity stocks as a sector are all pretty much up today, Teck Resources Ltd (USA) (NYSE:TCK) has far exceeded them all when it comes to the stock surge. This was a tricky past quarter for the company, as commodities themselves have been acting very abnormal. It will be interesting to see if today’s gains can hold.

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