Analysts Set Teck Resources Ltd (NYSE:TECK) Target Price at $55.71

Shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) have been assigned an average recommendation of “Hold” from the twenty-three brokerages that are currently covering the company, MarketBeat reports. Fourteen investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $55.7143.

A number of brokerages have recently weighed in on TECK. Scotiabank reiterated a “sector perform” rating on shares of Teck Resources in a research report on Tuesday, November 25th. Weiss Ratings raised Teck Resources from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, October 24th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $46.00 price target on shares of Teck Resources in a report on Wednesday, November 26th. Citigroup reaffirmed a “neutral” rating on shares of Teck Resources in a report on Thursday. Finally, Natl Bk Canada downgraded 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

Institutional investors have recently bought and sold shares of the stock. Versant Capital Management Inc acquired a new position in Teck Resources during the 3rd quarter valued at about $26,000. Smartleaf Asset Management LLC increased its stake in shares of Teck Resources by 72.4% during the third quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 351 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Teck Resources during the second quarter valued at approximately $49,000. SouthState Bank Corp bought a new stake in Teck Resources during the third quarter worth approximately $50,000. Finally, MassMutual Private Wealth & Trust FSB lifted its position in Teck Resources by 102.5% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,320 shares of the basic materials company’s stock worth $53,000 after purchasing an additional 668 shares during the period. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Trading Down 3.3%

NYSE TECK opened at $50.57 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.08 and a current ratio of 2.78. Teck Resources has a one year low of $28.32 and a one year high of $52.42. The company has a 50-day simple moving average of $45.36 and a 200-day simple moving average of $40.78. The firm has a market capitalization of $24.32 billion, a PE ratio of 28.41, a price-to-earnings-growth ratio of 0.54 and a beta of 0.79.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Wednesday, October 22nd. The basic materials company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.16. Teck Resources had a net margin of 11.93% and a return on equity of 4.14%. The firm had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same quarter in the prior year, the business earned $0.60 earnings per share. Teck Resources’s quarterly revenue was up 18.4% on a year-over-year basis. On average, equities analysts forecast that Teck Resources will post 1.53 earnings per share for the current year.

Teck Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were given a dividend of $0.125 per share. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. This represents a $0.50 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Monday, December 15th. Teck Resources’s payout ratio is presently 20.22%.

About Teck Resources

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.