Teck Resources Limited (NYSE:TECK) Receives $65.00 Consensus PT from Analysts

Teck Resources Limited (NYSE:TECK) (TSE:TECK) has been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $65.00.

Several research firms have recently commented on TECK. Benchmark reissued a “buy” rating and issued a $55.00 price objective on shares of Teck Resources in a report on Thursday, July 25th. StockNews.com cut shares of Teck Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, September 25th. BMO Capital Markets started coverage on shares of Teck Resources in a research note on Monday, July 15th. They set an “outperform” rating on the stock. JPMorgan Chase & Co. cut their target price on shares of Teck Resources from $56.00 to $54.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Finally, CIBC boosted their price target on Teck Resources from $70.00 to $80.00 and gave the stock an “outperformer” rating in a research report on Friday, July 12th.

Hedge Funds Weigh In On Teck Resources

A number of large investors have recently made changes to their positions in TECK. Hexagon Capital Partners LLC grew its holdings in Teck Resources by 143.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock valued at $30,000 after buying an additional 386 shares in the last quarter. Creekmur Asset Management LLC acquired a new stake in shares of Teck Resources during the fourth quarter worth $35,000. Headlands Technologies LLC bought a new stake in shares of Teck Resources in the second quarter valued at about $38,000. Optiver Holding B.V. grew its stake in shares of Teck Resources by 81.9% in the fourth quarter. Optiver Holding B.V. now owns 973 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 438 shares in the last quarter. Finally, Blue Trust Inc. increased its position in Teck Resources by 583.1% during the second quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock worth $48,000 after acquiring an additional 898 shares during the period. Institutional investors own 78.06% of the company’s stock.

Teck Resources Stock Down 0.7 %

Shares of TECK stock opened at $51.87 on Friday. The firm’s fifty day moving average price is $47.29 and its two-hundred day moving average price is $48.12. The company has a current ratio of 1.48, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19. Teck Resources has a 1 year low of $34.38 and a 1 year high of $55.13. The firm has a market capitalization of $26.54 billion, a P/E ratio of 22.95 and a beta of 1.01.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.32. The business had revenue of $3.87 billion for the quarter, compared to analyst estimates of $2.67 billion. Teck Resources had a return on equity of 6.52% and a net margin of 9.40%. Teck Resources’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.91 earnings per share. On average, equities analysts predict that Teck Resources will post 1.98 EPS for the current fiscal year.

Teck Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date was Friday, September 13th. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s payout ratio is currently 16.37%.

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.