Q4 EPS Estimates for Teck Resources Cut by Analyst

Teck Resources Limited (NYSE:TECK) (TSE:TECK) – National Bank Financial reduced their Q4 2024 earnings per share (EPS) estimates for Teck Resources in a research note issued on Tuesday, January 21st. National Bank Financial analyst S. Nagle now expects that the basic materials company will earn $0.21 per share for the quarter, down from their previous estimate of $0.29. National Bank Financial currently has a “Sector Perform” rating on the stock. The consensus estimate for Teck Resources’ current full-year earnings is $1.69 per share. National Bank Financial also issued estimates for Teck Resources’ FY2025 earnings at $1.06 EPS and FY2026 earnings at $1.32 EPS.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.24. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The business had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter last year, the business posted $0.57 earnings per share. The company’s quarterly revenue was down 20.6% on a year-over-year basis.

TECK has been the subject of a number of other research reports. StockNews.com upgraded Teck Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Scotiabank increased their price target on Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft lowered 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. Raymond James decreased their price target on Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Citigroup raised Teck Resources to a “hold” rating in a research note on Wednesday, October 2nd. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $65.38.

Teck Resources Trading Down 1.9 %

Shares of TECK stock opened at $42.90 on Thursday. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. Teck Resources has a fifty-two week low of $36.50 and a fifty-two week high of $55.13. The stock has a market capitalization of $21.40 billion, a P/E ratio of 65.00 and a beta of 1.05. The stock has a 50-day simple moving average of $43.56 and a 200 day simple moving average of $46.50.

Institutional Trading of Teck Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Daymark Wealth Partners LLC grew its holdings in shares of Teck Resources by 2.8% during the 3rd quarter. Daymark Wealth Partners LLC now owns 8,774 shares of the basic materials company’s stock worth $458,000 after purchasing an additional 242 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Teck Resources by 7.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 4,897 shares of the basic materials company’s stock worth $198,000 after purchasing an additional 327 shares in the last quarter. Evergreen Capital Management LLC grew its holdings in shares of Teck Resources by 7.8% during the 2nd quarter. Evergreen Capital Management LLC now owns 5,064 shares of the basic materials company’s stock worth $243,000 after purchasing an additional 365 shares in the last quarter. Bruce G. Allen Investments LLC grew its holdings in shares of Teck Resources by 77.4% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 383 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its holdings in shares of Teck Resources by 69.7% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 409 shares in the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were issued a dividend of $0.0895 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend was Friday, December 13th. Teck Resources’s dividend payout ratio is 53.03%.

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.