Teck Resources Ltd (NYSE:TECK) Receives $62.25 Consensus PT from Analysts

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) has earned a consensus rating of “Hold” from the thirteen ratings firms that are currently covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $62.25.

Several research firms have recently issued reports on TECK. Scotiabank reiterated a “sector perform” rating on shares of Teck Resources in a research note on Monday, June 15th. Wall Street Zen lowered Teck Resources from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 26th. Raymond James Financial raised Teck Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday, July 23rd. Weiss Ratings upgraded Teck Resources from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 4th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Teck Resources from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, July 28th.

Teck Resources Stock Performance

Shares of TECK opened at $69.42 on Friday. The company’s fifty day moving average is $61.97 and its 200-day moving average is $59.67. Teck Resources has a 12 month low of $31.68 and a 12 month high of $71.93. The firm has a market cap of $33.53 billion, a price-to-earnings ratio of 18.81, a price-to-earnings-growth ratio of 2.50 and a beta of 0.92. The company has a quick ratio of 2.33, a current ratio of 3.12 and a debt-to-equity ratio of 0.12.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.40. Teck Resources had a net margin of 17.85% and a return on equity of 10.42%. The business had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.38 billion. During the same quarter in the previous year, the business earned $0.38 EPS. Teck Resources’s quarterly revenue was up 78.2% compared to the same quarter last year. Equities analysts expect that Teck Resources will post 3.48 EPS for the current fiscal year.

Teck Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a $0.125 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.50 dividend on an annualized basis and a yield of 0.7%. Teck Resources’s dividend payout ratio (DPR) is presently 9.76%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TECK. Brown Brothers Harriman & Co. acquired a new stake in shares of Teck Resources in the fourth quarter worth $25,000. Blue Trust Inc. boosted its holdings in Teck Resources by 411.8% during the first quarter. Blue Trust Inc. now owns 563 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 453 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of Teck Resources by 117.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 561 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 303 shares in the last quarter. Oslo Pensjonsforsikring AS acquired a new position in Teck Resources in the first quarter valued at about $83,000. Finally, Versant Capital Management Inc increased its holdings in shares of Teck Resources by 86.5% during the second quarter. Versant Capital Management Inc now owns 1,587 shares of the basic materials company’s stock worth $94,000 after buying an additional 736 shares in the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

About Teck Resources

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.