Teck Resources Limited (NYSE:TECK) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) have received an average recommendation of “Moderate Buy” from the twelve analysts that are currently covering the company, MarketBeat Ratings reports. Five 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 company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $65.38.

Several research analysts recently weighed in on TECK shares. UBS Group cut Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. Raymond James dropped their price objective on Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, January 22nd. JPMorgan Chase & Co. lowered their price target on Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Finally, National Bank Financial lowered Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Stonebridge Financial Group LLC acquired a new position in Teck Resources during the 4th quarter worth $25,000. Global Trust Asset Management LLC purchased a new position in shares of Teck Resources in the 4th quarter valued at about $27,000. FPC Investment Advisory Inc. purchased a new position in shares of Teck Resources in the 4th quarter valued at about $27,000. Community Bank N.A. purchased a new position in shares of Teck Resources in the 4th quarter valued at about $33,000. Finally, Eastern Bank purchased a new position in shares of Teck Resources in the 3rd quarter valued at about $39,000. 78.06% of the stock is owned by institutional investors and hedge funds.

Teck Resources Stock Down 5.2 %

Shares of TECK stock opened at $41.12 on Monday. The stock has a 50 day moving average of $41.95 and a 200 day moving average of $45.73. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The stock has a market cap of $20.51 billion, a P/E ratio of 74.76 and a beta of 1.02. Teck Resources has a twelve month low of $37.30 and a twelve month high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.07. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. As a group, sell-side analysts expect that Teck Resources will post 1.53 EPS for the current year.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.0879 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.35 annualized dividend and a yield of 0.86%. Teck Resources’s payout ratio is 63.64%.

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.