Teck Resources Ltd (TECK) Given Average Recommendation of “Buy” by Analysts
Shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) have been assigned a consensus recommendation of “Buy” from the eighteen analysts that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $29.90.
Several research firms have issued reports on TECK. Morgan Stanley cut their price target on shares of Teck Resources from $29.00 to $28.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 1st. Deutsche Bank set a $34.00 price target on shares of Teck Resources and gave the company a “buy” rating in a research report on Saturday, September 22nd. Zacks Investment Research lowered shares of Teck Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. ValuEngine downgraded shares of Teck Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. Finally, Raymond James reaffirmed a “buy” rating on shares of Teck Resources in a research note on Sunday, October 7th.
Large investors have recently modified their holdings of the company. Advisors Asset Management Inc. raised its stake in Teck Resources by 2,675.5% in the second quarter. Advisors Asset Management Inc. now owns 4,191 shares of the basic materials company’s stock worth $107,000 after buying an additional 4,040 shares in the last quarter. NumerixS Investment Technologies Inc bought a new position in Teck Resources in the second quarter worth about $111,000. Regentatlantic Capital LLC bought a new position in Teck Resources in the second quarter worth about $200,000. Bayesian Capital Management LP bought a new position in Teck Resources in the first quarter worth about $247,000. Finally, Daiwa SB Investments Ltd. raised its stake in Teck Resources by 207.2% in the second quarter. Daiwa SB Investments Ltd. now owns 9,860 shares of the basic materials company’s stock worth $251,000 after buying an additional 6,650 shares in the last quarter. 54.54% of the stock is owned by hedge funds and other institutional investors.
Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings results on Thursday, July 26th. The basic materials company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.28. Teck Resources had a net margin of 22.12% and a return on equity of 13.56%. The business had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.97 billion. During the same period in the prior year, the business posted $1.00 earnings per share. The company’s revenue was up 6.5% on a year-over-year basis. Equities analysts expect that Teck Resources will post 3.46 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 14th were paid a dividend of $0.038 per share. This represents a $0.15 annualized dividend and a dividend yield of 0.65%. The ex-dividend date was Thursday, September 13th. Teck Resources’s dividend payout ratio (DPR) 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.
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