BMO Capital Markets reaffirmed their market perform rating on shares of Teck Resources (NYSE:TECK) (TSE:TECK) in a research report released on Monday morning, The Fly reports. They currently have a $27.00 target price on the basic materials company’s stock.
TECK has been the subject of several other reports. Zacks Investment Research cut shares of Teck Resources from a hold rating to a strong sell rating and set a $15.00 price objective for the company. in a research note on Friday, January 3rd. Citigroup upgraded shares of Teck Resources from a neutral rating to a buy rating and set a $27.00 target price on the stock in a report on Monday, December 16th. Bank of America upgraded shares of Teck Resources from an underperform rating to a neutral rating and lifted their target price for the company from $13.00 to $17.00 in a report on Monday. B. Riley started coverage on shares of Teck Resources in a report on Thursday, January 9th. They set a buy rating and a $35.00 target price on the stock. Finally, ValuEngine upgraded shares of Teck Resources from a sell rating to a hold rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. Teck Resources presently has an average rating of Buy and a consensus price target of $25.85.
TECK stock opened at $10.27 on Monday. The stock has a market capitalization of $5.58 billion, a P/E ratio of 25.68 and a beta of 1.48. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.28 and a current ratio of 1.62. Teck Resources has a one year low of $10.04 and a one year high of $25.75. The company has a 50 day moving average price of $13.94 and a two-hundred day moving average price of $15.97.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be issued a $0.0377 dividend. This represents a $0.15 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Thursday, March 12th. Teck Resources’s dividend payout ratio (DPR) is presently 6.76%.
Several institutional investors have recently bought and sold shares of the company. Advisory Services Network LLC lifted its position in shares of Teck Resources by 47.6% in the 4th quarter. Advisory Services Network LLC now owns 2,501 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 806 shares in the last quarter. Aigen Investment Management LP purchased a new stake in shares of Teck Resources in the 4th quarter valued at approximately $56,000. Bessemer Group Inc. lifted its position in shares of Teck Resources by 60,907.1% in the 4th quarter. Bessemer Group Inc. now owns 8,541 shares of the basic materials company’s stock valued at $148,000 after acquiring an additional 8,527 shares in the last quarter. Stevens Capital Management LP purchased a new stake in shares of Teck Resources in the 4th quarter valued at approximately $181,000. Finally, Virtu Financial LLC purchased a new stake in shares of Teck Resources in the 3rd quarter valued at approximately $186,000. Institutional investors and hedge funds own 40.83% of the company’s stock.
About Teck Resources
Teck Resources Limited researches, explores for, develops, and produces natural resources in the Asia Pacific, the Americas, and Europe. It operates through five segments: Steelmaking, Coal, Copper, Zinc, Energy, and Corporate. The company's principal products include steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.
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