Teck Resources Ltd (NYSE:TECK) (TSE:TECK) has been assigned an average rating of “Hold” from the eighteen analysts that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $30.21.
A number of analysts have recently commented on TECK shares. ValuEngine lowered shares of Teck Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. MKM Partners set a $35.00 price target on shares of Teck Resources and gave the stock a “buy” rating in a research note on Wednesday, June 6th. Morgan Stanley lifted their price target on shares of Teck Resources from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Friday, June 29th. Finally, Zacks Investment Research lowered shares of Teck Resources from a “hold” rating to a “sell” rating in a research note on Thursday, June 28th.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Teck Resources by 1.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 135,698 shares of the basic materials company’s stock worth $3,492,000 after buying an additional 1,986 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Teck Resources by 25.3% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,342 shares of the basic materials company’s stock valued at $266,000 after purchasing an additional 2,088 shares in the last quarter. Nomura Holdings Inc. lifted its holdings in Teck Resources by 28.1% during the second quarter. Nomura Holdings Inc. now owns 14,092 shares of the basic materials company’s stock valued at $359,000 after purchasing an additional 3,091 shares in the last quarter. UBS Group AG lifted its holdings in Teck Resources by 2.9% during the first quarter. UBS Group AG now owns 114,558 shares of the basic materials company’s stock valued at $2,950,000 after purchasing an additional 3,218 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Teck Resources by 24.5% during the first quarter. PNC Financial Services Group Inc. now owns 18,062 shares of the basic materials company’s stock valued at $465,000 after purchasing an additional 3,559 shares in the last quarter. 54.84% of the stock is currently owned by institutional investors.
NYSE:TECK traded down $0.66 on Friday, reaching $23.12. 116,460 shares of the stock traded hands, compared to its average volume of 1,912,328. The firm has a market cap of $13.45 billion, a P/E ratio of 6.75, a P/E/G ratio of 0.64 and a beta of 1.42. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.51 and a current ratio of 2.38. Teck Resources has a 12 month low of $20.06 and a 12 month high of $30.80.
Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Thursday, July 26th. The basic materials company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.28. The business had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.97 billion. Teck Resources had a net margin of 22.12% and a return on equity of 13.56%. Teck Resources’s revenue was up 6.5% compared to the same quarter last year. During the same period last year, the business earned $1.00 EPS. equities research analysts predict that Teck Resources will post 3.55 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be issued a $0.038 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend is Thursday, September 13th. Teck Resources’s payout ratio is 4.37%.
About Teck Resources
Teck Resources Limited researches, explores for, develops, and produces natural resources in the Americas, the Asia Pacific, and Europe. It operates through five segments: Steelmaking Coal, Copper, Zinc, Energy, and Corporate. The company's principal products comprise steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.
Recommended Story: Investing in Growth Stocks
Receive News & Ratings for Teck Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teck Resources and related companies with MarketBeat.com's FREE daily email newsletter.