FY2024 EPS Estimates for Teck Resources Raised by Analyst

Teck Resources Limited (NYSE:TECK) (TSE:TECK) – Analysts at National Bank Financial raised their FY2024 earnings per share estimates for Teck Resources in a research report issued on Tuesday, January 21st. National Bank Financial analyst S. Nagle now expects that the basic materials company will earn $1.61 per share for the year, up from their prior forecast of $1.60. National Bank Financial 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’ FY2027 earnings at $1.08 EPS and FY2028 earnings at $0.65 EPS.

Other research analysts have also recently issued research reports about the stock. StockNews.com upgraded shares of Teck Resources from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Citigroup raised Teck Resources to a “hold” rating in a research report on Wednesday, October 2nd. Scotiabank lifted their target price on Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a report on Tuesday, October 8th. UBS Group cut Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. decreased their price objective on Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Six equities research 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $65.38.

Teck Resources Stock Up 1.0 %

Shares of NYSE:TECK opened at $43.35 on Friday. The firm has a market capitalization of $21.62 billion, a PE ratio of 65.68 and a beta of 1.05. Teck Resources has a 1 year low of $36.50 and a 1 year high of $55.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. The firm’s 50-day moving average is $43.56 and its two-hundred day moving average is $46.50.

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

Institutional Investors Weigh In On Teck Resources

Several institutional investors have recently added to or reduced their stakes in the business. Global Trust Asset Management LLC acquired a new stake in Teck Resources during the fourth quarter worth approximately $27,000. Eastern Bank purchased a new position in shares of Teck Resources in the 3rd quarter valued at $39,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Teck Resources in the 3rd quarter valued at $40,000. Bruce G. Allen Investments LLC raised its stake in 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 acquiring an additional 383 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its stake in Teck Resources by 69.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 409 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a dividend of $0.0895 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.83%. The ex-dividend date was Friday, December 13th. Teck Resources’s dividend payout ratio (DPR) is presently 53.03%.

Teck Resources Company Profile

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.