MKM Partners reiterated their buy rating on shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) in a research report released on Tuesday. The brokerage currently has a $40.00 price target on the basic materials company’s stock.

A number of other brokerages have also recently issued reports on TECK. Clarkson Capital restated a buy rating on shares of Teck Resources in a research report on Friday, May 19th. ValuEngine cut shares of Teck Resources from a strong-buy rating to a buy rating in a research report on Wednesday, September 6th. Raymond James Financial, Inc. restated an outperform rating on shares of Teck Resources in a research report on Tuesday, August 15th. Zacks Investment Research cut shares of Teck Resources from a hold rating to a sell rating in a research report on Tuesday, August 1st. Finally, Royal Bank Of Canada restated an outperform rating and set a $38.00 target price (down previously from $39.00) on shares of Teck Resources in a research report on Friday, June 16th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-four have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $31.19.

Shares of Teck Resources (NYSE:TECK) opened at 21.06 on Tuesday. The company’s 50-day moving average is $23.19 and its 200 day moving average is $20.45. Teck Resources has a 52 week low of $14.56 and a 52 week high of $26.60. The stock has a market cap of $12.17 billion, a PE ratio of 7.46 and a beta of 1.25.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Thursday, July 27th. The basic materials company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The company had revenue of $2.82 billion during the quarter, compared to analysts’ expectations of $2.75 billion. Teck Resources had a net margin of 17.93% and a return on equity of 13.01%. The company’s revenue was up 62.0% on a year-over-year basis. Analysts forecast that Teck Resources will post $3.56 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This piece of content was first published by Daily Political and is the property of of Daily Political. If you are viewing this piece of content on another domain, it was copied illegally and reposted in violation of US & international copyright & trademark laws. The legal version of this piece of content can be viewed at https://www.dailypolitical.com/2017/09/16/teck-resources-teck-buy-rating-reaffirmed-at-mkm-partners.html.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a $0.0399 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Thursday, September 14th. Teck Resources’s dividend payout ratio is presently 3.01%.

Several large investors have recently bought and sold shares of TECK. Capital Analysts LLC purchased a new stake in Teck Resources in the second quarter valued at approximately $100,000. Winslow Evans & Crocker Inc. purchased a new stake in Teck Resources in the second quarter valued at approximately $108,000. Financial Architects Inc purchased a new stake in Teck Resources in the second quarter valued at approximately $123,000. PNC Financial Services Group Inc. purchased a new stake in Teck Resources in the second quarter valued at approximately $124,000. Finally, Tower Research Capital LLC TRC purchased a new stake in Teck Resources in the second quarter valued at approximately $164,000. 46.68% of the stock is owned by institutional investors and hedge funds.

About Teck Resources

Teck Resources Ltd is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company’s activities are organized into business units that are focused on steelmaking coal, copper, zinc and energy. It operates in five segments: steelmaking coal, copper, zinc, energy and corporate.

Analyst Recommendations for Teck Resources (NYSE:TECK)

Receive News & Ratings for Teck Resources Ltd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teck Resources Ltd and related companies with MarketBeat.com's FREE daily email newsletter.