Teck Resources Ltd (NYSE:TECK) Receives Consensus Recommendation of “Hold” from Analysts

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) has been assigned a consensus rating of “Hold” from the nineteen research firms that are covering the company, MarketBeat Ratings reports. Fourteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $59.1667.

A number of equities research analysts recently commented on TECK shares. TD Securities reaffirmed a “hold” rating on shares of Teck Resources in a research note on Friday, April 24th. Scotiabank reaffirmed a “sector perform” rating on shares of Teck Resources in a research note on Monday, June 15th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Teck Resources in a research note on Friday, May 15th. Veritas cut Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 4th. Finally, Zacks Research cut Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd.

Institutional Investors Weigh In On Teck Resources

A number of institutional investors have recently made changes to their positions in TECK. Brown Brothers Harriman & Co. acquired a new position in Teck Resources in the fourth quarter valued at about $25,000. Geneos Wealth Management Inc. grew its stake in Teck Resources by 117.4% in the first quarter. Geneos Wealth Management Inc. now owns 561 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 303 shares during the period. Blue Trust Inc. grew its stake in Teck Resources by 411.8% in the first quarter. Blue Trust Inc. now owns 563 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 453 shares during the period. Smartleaf Asset Management LLC grew its stake in Teck Resources by 72.4% in the third quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 351 shares during the period. Finally, Oslo Pensjonsforsikring AS acquired a new position in Teck Resources in the first quarter valued at about $83,000. 78.06% of the stock is owned by institutional investors and hedge funds.

Teck Resources Trading Up 0.2%

TECK stock opened at $64.51 on Friday. The company has a market cap of $31.10 billion, a P/E ratio of 23.63, a PEG ratio of 3.90 and a beta of 0.89. Teck Resources has a twelve month low of $30.98 and a twelve month high of $71.25. The company has a quick ratio of 2.16, a current ratio of 2.83 and a debt-to-equity ratio of 0.13. The business has a fifty day moving average of $62.17 and a 200-day moving average of $55.16.

Teck Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.8%. Teck Resources’s payout ratio is 13.19%.

Teck Resources Company Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.