Teck Resources (NYSE:TECK) (TSE:TECK) had its price target upped by Citigroup from $10.00 to $15.00 in a research report report published on Tuesday, The Fly reports. They currently have a neutral rating on the basic materials company’s stock.
A number of other analysts have also weighed in on the stock. Bank of America lowered their price target on shares of Teck Resources from $9.00 to $8.50 and set a neutral rating for the company in a report on Tuesday, March 31st. Morgan Stanley raised their price target on shares of Teck Resources from $10.00 to $11.70 and gave the company an overweight rating in a report on Tuesday, June 23rd. ValuEngine raised shares of Teck Resources from a sell rating to a hold rating in a report on Thursday, July 2nd. TheStreet lowered shares of Teck Resources from a c- rating to a d rating in a report on Wednesday, April 22nd. Finally, TD Securities lowered their target price on shares of Teck Resources from $20.00 to $17.50 and set a buy rating for the company in a report on Wednesday, April 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. Teck Resources currently has a consensus rating of Buy and a consensus price target of $19.78.
NYSE:TECK opened at $10.49 on Tuesday. Teck Resources has a 1 year low of $5.60 and a 1 year high of $23.13. The firm has a 50 day moving average of $10.24 and a 200-day moving average of $11.12. The company has a current ratio of 1.35, a quick ratio of 0.63 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $5.45 billion, a P/E ratio of -12.20, a price-to-earnings-growth ratio of 4.24 and a beta of 1.50.
Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Tuesday, April 21st. The basic materials company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.72 billion. Teck Resources had a negative net margin of 5.40% and a positive return on equity of 5.14%. During the same quarter last year, the business posted $0.99 earnings per share. As a group, analysts forecast that Teck Resources will post 0.54 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a $0.036 dividend. This represents a $0.14 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend was Friday, June 12th. Teck Resources’s dividend payout ratio (DPR) is 6.76%.
Several hedge funds have recently made changes to their positions in TECK. Amundi Pioneer Asset Management Inc. grew its holdings in shares of Teck Resources by 72.9% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 360,876 shares of the basic materials company’s stock valued at $8,365,000 after buying an additional 152,124 shares during the period. State Street Corp lifted its position in Teck Resources by 11.4% in the 4th quarter. State Street Corp now owns 59,883 shares of the basic materials company’s stock valued at $1,040,000 after acquiring an additional 6,115 shares in the last quarter. FMR LLC lifted its position in Teck Resources by 9.5% in the 4th quarter. FMR LLC now owns 327,759 shares of the basic materials company’s stock valued at $5,684,000 after acquiring an additional 28,314 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Teck Resources by 25.1% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 893,792 shares of the basic materials company’s stock valued at $15,502,000 after acquiring an additional 179,498 shares in the last quarter. Finally, NumerixS Investment Technologies Inc lifted its position in Teck Resources by 47.3% in the 4th quarter. NumerixS Investment Technologies Inc now owns 24,600 shares of the basic materials company’s stock valued at $427,000 after acquiring an additional 7,900 shares in the last quarter. 44.77% of the stock is owned by institutional investors.
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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