Macquarie started coverage on shares of Teck Resources (NYSE:TECK) (TSE:TECK) in a research report released on Wednesday, BenzingaRatingsTable reports. The brokerage issued a neutral rating on the basic materials company’s stock.

Several other brokerages also recently issued reports on TECK. Bank of America set a $152.00 price target on shares of Caterpillar and gave the company a buy rating in a report on Thursday, April 4th. MKM Partners reissued a buy rating and set a $28.00 price target (up previously from $26.00) on shares of Teck Resources in a report on Wednesday, April 24th. ValuEngine downgraded shares of Welbilt from a hold rating to a sell rating in a report on Wednesday, June 12th. Zacks Investment Research raised shares of First Industrial Realty Trust from a hold rating to a buy rating and set a $39.00 price target for the company in a report on Wednesday, June 5th. Finally, Barclays set a $192.00 price target on shares of Tesla and gave the company a sell rating in a report on Tuesday, April 9th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Teck Resources has an average rating of Buy and an average target price of $29.14.

Teck Resources stock opened at $21.68 on Wednesday. The firm has a market capitalization of $11.98 billion, a P/E ratio of 6.90 and a beta of 1.37. The stock has a fifty day simple moving average of $21.67. The company has a current ratio of 2.95, a quick ratio of 2.06 and a debt-to-equity ratio of 0.23. Teck Resources has a 12 month low of $18.17 and a 12 month high of $26.40.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. Teck Resources had a net margin of 23.71% and a return on equity of 9.59%. The company had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the previous year, the company posted $1.31 earnings per share. On average, research analysts predict that Teck Resources will post 2.95 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a dividend of $0.037 per share. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date was Thursday, June 13th. Teck Resources’s dividend payout ratio is currently 4.78%.

Several hedge funds and other institutional investors have recently modified their holdings of TECK. Norges Bank bought a new stake in shares of Teck Resources during the fourth quarter valued at about $285,156,000. Hexavest Inc. bought a new stake in shares of Teck Resources during the first quarter valued at about $66,603,000. BlackRock Inc. raised its stake in shares of Teck Resources by 46.0% during the fourth quarter. BlackRock Inc. now owns 6,240,453 shares of the basic materials company’s stock valued at $134,420,000 after purchasing an additional 1,967,067 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Teck Resources by 191.3% during the first quarter. Jennison Associates LLC now owns 2,101,280 shares of the basic materials company’s stock valued at $48,708,000 after purchasing an additional 1,379,898 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in shares of Teck Resources during the first quarter valued at about $26,922,000. Institutional investors and hedge funds own 55.23% of the company’s stock.

About Teck Resources

Teck Resources Limited researches, explores for, develops, and produces natural resources in the Asia Pacific, the Americas, and Europe. It operates through five segments: Steelmaking, Coal, Copper, Zinc, Energy, and Corporate. The company's principal products include 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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Analyst Recommendations for Teck Resources (NYSE:TECK)

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