Brokers Offer Predictions for Teck Resources Q4 Earnings

Teck Resources Limited (NYSE:TECK) (TSE:TECK) – Stock analysts at Zacks Research dropped their Q4 2024 earnings per share estimates for shares of Teck Resources in a research report issued to clients and investors on Monday, February 10th. Zacks Research analyst M. Das now forecasts that the basic materials company will post earnings per share of $0.19 for the quarter, down from their previous estimate of $0.20. The consensus estimate for Teck Resources’ current full-year earnings is $1.64 per share. Zacks Research also issued estimates for Teck Resources’ Q1 2025 earnings at $0.18 EPS, FY2025 earnings at $1.14 EPS and FY2026 earnings at $1.30 EPS.

Several other equities research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. UBS Group cut shares of Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. National Bank Financial cut shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. StockNews.com raised shares of Teck Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a research report on Friday, October 25th. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.38.

Teck Resources Stock Down 2.1 %

Shares of NYSE:TECK opened at $42.28 on Wednesday. Teck Resources has a fifty-two week low of $36.50 and a fifty-two week high of $55.13. The firm’s 50 day moving average price is $42.36 and its 200 day moving average price is $45.92. 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 cap of $21.09 billion, a price-to-earnings ratio of 64.06 and a beta of 1.02.

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were paid a dividend of $0.0895 per share. This represents a $0.36 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend was Friday, December 13th. Teck Resources’s dividend payout ratio is presently 53.03%.

Institutional Investors Weigh In On Teck Resources

Several hedge funds have recently modified their holdings of TECK. Mufg Securities Canada LTD. lifted its stake in shares of Teck Resources by 69.2% in the fourth quarter. Mufg Securities Canada LTD. now owns 691,422 shares of the basic materials company’s stock valued at $28,014,000 after purchasing an additional 282,713 shares during the period. TD Asset Management Inc. lifted its stake in Teck Resources by 0.7% in the 4th quarter. TD Asset Management Inc. now owns 5,973,390 shares of the basic materials company’s stock valued at $242,059,000 after buying an additional 41,081 shares in the last quarter. Vanguard Group Inc. grew its holdings in Teck Resources by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 19,316,132 shares of the basic materials company’s stock valued at $783,153,000 after buying an additional 58,985 shares during the last quarter. Community Bank N.A. purchased a new position in Teck Resources during the fourth quarter worth $33,000. Finally, LPL Financial LLC raised its holdings in shares of Teck Resources by 5.1% in the fourth quarter. LPL Financial LLC now owns 152,327 shares of the basic materials company’s stock worth $6,174,000 after acquiring an additional 7,400 shares during the last quarter. 78.06% of the stock is 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.