Teck Resources Limited (NYSE:TECK) Given Average Recommendation of “Moderate Buy” by Brokerages

Teck Resources Limited (NYSE:TECK) (TSE:TECK) has been given an average recommendation of “Moderate Buy” by the sixteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $64.11.

Several research analysts recently commented on TECK shares. National Bankshares restated a “sector perform” rating on shares of Teck Resources in a report on Wednesday, April 2nd. BMO Capital Markets started coverage on Teck Resources in a report on Wednesday, April 16th. They issued an “outperform” rating for the company. JPMorgan Chase & Co. dropped their target price on Teck Resources from $50.00 to $41.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Raymond James reduced their price target on Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, January 22nd. Finally, Bank of America boosted their price target on Teck Resources from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, March 10th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TECK. PNC Financial Services Group Inc. lifted its holdings in Teck Resources by 2.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,632 shares of the basic materials company’s stock worth $471,000 after purchasing an additional 243 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Teck Resources by 2.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 9,809 shares of the basic materials company’s stock valued at $398,000 after acquiring an additional 279 shares during the period. Steward Partners Investment Advisory LLC grew its stake in shares of Teck Resources by 6.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,844 shares of the basic materials company’s stock valued at $196,000 after acquiring an additional 297 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in Teck Resources by 2.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 13,959 shares of the basic materials company’s stock valued at $566,000 after purchasing an additional 302 shares during the period. Finally, Exchange Traded Concepts LLC grew its position in shares of Teck Resources by 7.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 4,897 shares of the basic materials company’s stock worth $198,000 after purchasing an additional 327 shares in the last quarter. 78.06% of the stock is owned by institutional investors.

Teck Resources Trading Down 0.6 %

TECK opened at $32.72 on Tuesday. The firm’s fifty day simple moving average is $38.21 and its 200 day simple moving average is $42.56. The stock has a market capitalization of $16.19 billion, a P/E ratio of 59.49 and a beta of 0.81. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. Teck Resources has a 12 month low of $28.32 and a 12 month high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $2.58 billion. As a group, research analysts anticipate that Teck Resources will post 1.53 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a dividend of $0.0879 per share. This represents a $0.35 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend was Friday, March 14th. Teck Resources’s payout ratio is 61.82%.

About Teck Resources

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.