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

Shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) have been given a consensus recommendation of “Moderate Buy” by the sixteen ratings firms that are currently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $64.11.

Several research firms have recently issued reports on TECK. National Bankshares upgraded Teck Resources from a “sector perform” rating to an “outperform” rating in a research note on Thursday, April 24th. Desjardins started coverage on Teck Resources in a research report on Friday, April 4th. They set a “buy” rating for the company. JPMorgan Chase & Co. dropped their price target on shares of Teck Resources from $50.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. National Bank Financial upgraded shares of Teck Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 24th. Finally, Raymond James lowered their target price on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 22nd.

Teck Resources Price Performance

NYSE TECK opened at $37.05 on Friday. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $18.26 billion, a PE ratio of 67.36 and a beta of 0.79. Teck Resources has a 12-month low of $28.32 and a 12-month high of $55.13. The company has a 50 day moving average price of $36.17 and a two-hundred day moving average price of $40.98.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Thursday, April 24th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.18. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $2.19 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. Teck Resources’s quarterly revenue was up 41.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 EPS. As a group, equities analysts predict that Teck Resources will post 1.53 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a dividend of $0.0901 per share. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. This represents a $0.36 annualized dividend and a yield of 0.97%. The ex-dividend date is Monday, June 16th. Teck Resources’s dividend payout ratio is presently 58.62%.

Institutional Trading of Teck Resources

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Stonebridge Financial Group LLC acquired a new position in shares of Teck Resources during the fourth quarter valued at about $25,000. Global Trust Asset Management LLC bought a new position in Teck Resources during the fourth quarter valued at about $27,000. FPC Investment Advisory Inc. bought a new position in Teck Resources during the fourth quarter valued at about $27,000. Smartleaf Asset Management LLC grew its holdings in shares of Teck Resources by 69.2% during the 1st quarter. Smartleaf Asset Management LLC now owns 856 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 350 shares in the last quarter. Finally, Community Bank N.A. bought a new stake in shares of Teck Resources during the fourth quarter valued at approximately $33,000. 78.06% of the stock is currently owned by institutional investors and hedge funds.

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.