Teck Resources (NYSE:TECK) Price Target Increased to C$57.00 by Analysts at Raymond James

Teck Resources (NYSE:TECKGet Rating) (TSE:TECK) had its price target raised by Raymond James from C$56.00 to C$57.00 in a report released on Monday, The Fly reports.

Several other research analysts have also weighed in on the stock. Credit Suisse Group decreased their price objective on shares of Teck Resources from C$68.00 to C$63.00 in a report on Tuesday, July 26th. Stifel Nicolaus decreased their price target on shares of Teck Resources from C$62.00 to C$59.00 in a report on Tuesday, August 16th. National Bank Financial decreased their price target on shares of Teck Resources from C$55.00 to C$52.50 in a report on Thursday, July 28th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Teck Resources from $48.00 to $47.00 and set a buy rating for the company in a report on Thursday, July 7th. Finally, Barclays decreased their price target on shares of Teck Resources from C$50.00 to C$42.00 in a report on Tuesday, July 19th. Two research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of $50.71.

Teck Resources Price Performance

Shares of TECK stock opened at $33.32 on Monday. The firm has a market cap of $17.38 billion, a P/E ratio of 4.14, a P/E/G ratio of 1.07 and a beta of 1.09. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.25. Teck Resources has a 1-year low of $22.75 and a 1-year high of $45.90. The firm has a fifty day moving average of $31.35 and a two-hundred day moving average of $36.12.

Teck Resources (NYSE:TECKGet Rating) (TSE:TECK) last announced its quarterly earnings data on Wednesday, July 27th. The basic materials company reported $3.25 earnings per share for the quarter, topping the consensus estimate of $2.01 by $1.24. The company had revenue of $5.79 billion during the quarter, compared to analyst estimates of $5.59 billion. Teck Resources had a net margin of 28.90% and a return on equity of 23.73%. The firm’s revenue for the quarter was up 126.2% compared to the same quarter last year. During the same period last year, the business earned $0.51 EPS. As a group, research analysts anticipate that Teck Resources will post 6.83 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th will be given a dividend of $0.097 per share. The ex-dividend date is Wednesday, September 14th. This represents a $0.39 dividend on an annualized basis and a dividend yield of 1.16%. Teck Resources’s dividend payout ratio (DPR) is 4.72%.

Institutional Trading of Teck Resources

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dodge & Cox raised its holdings in shares of Teck Resources by 3.6% in the 4th quarter. Dodge & Cox now owns 24,098,340 shares of the basic materials company’s stock worth $694,514,000 after purchasing an additional 829,000 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Teck Resources by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 14,801,956 shares of the basic materials company’s stock worth $597,851,000 after purchasing an additional 318,294 shares in the last quarter. Soroban Capital Partners LP bought a new stake in shares of Teck Resources in the 4th quarter worth approximately $318,590,000. Egerton Capital UK LLP raised its holdings in shares of Teck Resources by 274.3% in the 2nd quarter. Egerton Capital UK LLP now owns 10,301,465 shares of the basic materials company’s stock worth $314,916,000 after purchasing an additional 7,549,057 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of Teck Resources by 594.7% in the 2nd quarter. FMR LLC now owns 9,630,011 shares of the basic materials company’s stock worth $294,466,000 after purchasing an additional 8,243,806 shares in the last quarter. 55.01% of the stock is currently owned by institutional investors.

Teck Resources Company Profile

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

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