Teck Resources (NYSE:TECK) Hits New 52-Week High at $50.93

Teck Resources Limited (NYSE:TECK) (TSE:TECK)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $50.93 and last traded at $50.46, with a volume of 896570 shares trading hands. The stock had previously closed at $49.54.

Analyst Ratings Changes

A number of research firms have recently weighed in on TECK. Benchmark boosted their target price on Teck Resources from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, April 8th. UBS Group assumed coverage on shares of Teck Resources in a research note on Tuesday, January 16th. They issued a “buy” rating on the stock. Morgan Stanley reissued an “overweight” rating and set a $55.00 price target on shares of Teck Resources in a research report on Thursday, April 11th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Teck Resources from $44.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Teck Resources presently has an average rating of “Moderate Buy” and a consensus price target of $62.80.

Teck Resources Trading Up 1.7 %

The stock has a 50-day moving average price of $43.71 and a two-hundred day moving average price of $40.34. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.60 and a current ratio of 1.10. The stock has a market capitalization of $25.72 billion, a PE ratio of 14.71, a PEG ratio of 6.57 and a beta of 1.15.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Thursday, February 22nd. The basic materials company reported $1.02 EPS for the quarter, topping the consensus estimate of $1.01 by $0.01. The firm had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.11 billion. Teck Resources had a net margin of 16.21% and a return on equity of 9.67%. As a group, equities analysts forecast that Teck Resources Limited will post 3.34 earnings per share for the current year.

Teck Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a dividend of $0.0925 per share. This represents a $0.37 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend was Thursday, March 14th. Teck Resources’s payout ratio is 10.79%.

Institutional Investors Weigh In On Teck Resources

Several institutional investors have recently modified their holdings of the stock. Hexagon Capital Partners LLC increased its position in Teck Resources by 143.0% during the first quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 386 shares during the last quarter. Baystate Wealth Management LLC bought a new stake in shares of Teck Resources during the third quarter valued at approximately $31,000. Creekmur Asset Management LLC purchased a new stake in shares of Teck Resources in the fourth quarter valued at approximately $35,000. JFS Wealth Advisors LLC raised its position in Teck Resources by 249.0% during the 3rd quarter. JFS Wealth Advisors LLC now owns 841 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 600 shares in the last quarter. Finally, Optiver Holding B.V. lifted its holdings in shares of Teck Resources by 81.9% in the 4th quarter. Optiver Holding B.V. now owns 973 shares of the basic materials company’s stock worth $41,000 after buying an additional 438 shares during the period. 78.06% of the stock is owned by institutional investors.

About Teck Resources

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.