Analysts Are Downgrading These 5 Stocks

04. Teck Resources Limited (NYSE:TECK)

Number of Hedge Fund Holders: 66

Teck Resources Limited (NYSE:TECK) is a Canadian company that explores, acquires, develops, and produces natural resources across Asia, Europe, and North America. Its operations are divided into segments: Steelmaking Coal, Copper, Zinc, and Energy. The company’s main products include copper, zinc, steelmaking coal, and blended bitumen. It also produces lead, silver, molybdenum, specialty metals, chemicals, fertilizers, and explores for gold. Established in 1913 as Teck Cominco Limited, the company changed its name to Teck Resources Limited (NYSE:TECK) in April 2009. It is headquartered in Vancouver, Canada.

On July 11, Timna Tanners, an analyst at Wolfe Research, downgraded Teck Resources Limited (NYSE:TECK) from an Outperform rating to a Peer Perform rating. This shift in the rating indicates a change in Tanners’ outlook for the company. The downgrade is primarily driven by revised forecasts for copper, zinc, and metallurgical coal, which have been adjusted downwards. As a result, Tanners now sees Teck Resources Limited (NYSE:TECK) as performing more in line with its industry peers rather than outperforming them.