Teck Resources Ltd (NYSE:TECK) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) have earned an average recommendation of “Moderate Buy” from the twenty brokerages that are currently covering the company, MarketBeat.com reports. Twelve analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $57.00.

TECK has been the subject of a number of analyst reports. Raymond James Financial cut Teck Resources from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 14th. TD Securities restated a “hold” rating on shares of Teck Resources in a research report on Monday, February 23rd. UBS Group reiterated a “buy” rating on shares of Teck Resources in a research report on Tuesday, January 27th. Scotiabank reissued a “sector perform” rating on shares of Teck Resources in a research note on Tuesday, February 24th. Finally, Benchmark boosted their target price on shares of Teck Resources from $48.00 to $67.00 and gave the stock a “buy” rating in a research note on Monday, February 23rd.

Teck Resources Stock Performance

TECK opened at $52.78 on Tuesday. The firm has a fifty day moving average price of $54.44 and a 200 day moving average price of $47.87. Teck Resources has a 1 year low of $28.32 and a 1 year high of $62.41. The stock has a market cap of $25.44 billion, a P/E ratio of 26.13, a P/E/G ratio of 2.76 and a beta of 0.85. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.54 and a quick ratio of 1.91.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Thursday, February 19th. The basic materials company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.39. The company had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Teck Resources had a net margin of 12.98% and a return on equity of 5.90%. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.45 earnings per share. Equities research analysts anticipate that Teck Resources will post 1.53 earnings per share for the current year.

Teck Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, March 13th. Teck Resources’s dividend payout ratio (DPR) is currently 18.32%.

Institutional Trading of Teck Resources

Several large investors have recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. purchased a new position in shares of Teck Resources during the 4th quarter worth $25,000. Versant Capital Management Inc purchased a new stake in shares of Teck Resources in the third quarter valued at about $26,000. Smartleaf Asset Management LLC increased its position in Teck Resources by 72.4% during the third quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 351 shares during the last quarter. SouthState Bank Corp acquired a new stake in Teck Resources during the third quarter worth about $50,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Teck Resources by 43.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,741 shares of the basic materials company’s stock worth $76,000 after purchasing an additional 524 shares during the period. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

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.