Teck Resources Ltd (NYSE:TECK) Receives $55.71 Consensus Price Target from Analysts

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) has been given an average rating of “Hold” by the twenty-three brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, thirteen have assigned a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $55.7143.

A number of research firms have recently weighed in on TECK. Raymond James Financial reissued an “outperform” rating on shares of Teck Resources in a report on Friday, October 10th. Veritas downgraded shares of Teck Resources from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. JPMorgan Chase & Co. raised their price target on shares of Teck Resources from $43.00 to $51.00 and gave the stock a “neutral” rating in a research note on Friday, December 5th. Benchmark reiterated a “buy” rating on shares of Teck Resources in a report on Thursday, October 23rd. Finally, Natl Bk Canada lowered shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 5th.

Institutional Investors Weigh In On Teck Resources

Hedge funds have recently made changes to their positions in the business. Norges Bank acquired a new position in Teck Resources in the second quarter valued at $437,657,000. 1832 Asset Management L.P. grew its holdings in Teck Resources by 1,555.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 5,738,457 shares of the basic materials company’s stock valued at $231,719,000 after buying an additional 5,391,907 shares during the period. Principal Financial Group Inc. increased its stake in shares of Teck Resources by 36.1% during the 3rd quarter. Principal Financial Group Inc. now owns 16,879,229 shares of the basic materials company’s stock valued at $740,604,000 after acquiring an additional 4,474,637 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Teck Resources by 264.5% during the 3rd quarter. Wellington Management Group LLP now owns 5,781,060 shares of the basic materials company’s stock valued at $253,695,000 after acquiring an additional 4,194,868 shares during the last quarter. Finally, Pentwater Capital Management LP lifted its holdings in shares of Teck Resources by 7,150.0% during the 3rd quarter. Pentwater Capital Management LP now owns 2,900,000 shares of the basic materials company’s stock worth $127,281,000 after acquiring an additional 2,860,000 shares during the period. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Stock Performance

Shares of TECK opened at $46.71 on Friday. Teck Resources has a 12-month low of $28.32 and a 12-month high of $47.06. The stock has a market cap of $22.45 billion, a P/E ratio of 26.24, a PEG ratio of 0.65 and a beta of 0.83. The company has a current ratio of 2.78, a quick ratio of 2.08 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average of $42.87 and a two-hundred day moving average of $39.44.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Wednesday, October 22nd. The basic materials company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.16. Teck Resources had a net margin of 11.93% and a return on equity of 4.14%. The business had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same period last year, the company posted $0.60 EPS. The company’s revenue was up 18.4% on a year-over-year basis. As a group, research analysts predict that Teck Resources will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be issued a $0.125 dividend. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. The ex-dividend date is Monday, December 15th. This represents a $0.50 annualized dividend and a yield of 1.1%. Teck Resources’s payout ratio is presently 20.22%.

Teck Resources Company Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.