Teck Resources (NYSE:TECK) Reaches New 12-Month High – Should You Buy?

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) reached a new 52-week high during trading on Tuesday . The company traded as high as $71.34 and last traded at $71.1480, with a volume of 2418128 shares changing hands. The stock had previously closed at $70.20.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Veritas lowered shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 4th. Weiss Ratings upgraded Teck Resources from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 4th. Raymond James Financial raised Teck Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday, July 23rd. Scotiabank reaffirmed a “sector perform” rating on shares of Teck Resources in a research report on Monday, June 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Teck Resources from $64.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Six research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Teck Resources has an average rating of “Hold” and an average price target of $62.25.

Teck Resources Stock Performance

The company has a quick ratio of 2.33, a current ratio of 3.12 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $34.19 billion, a P/E ratio of 19.21, a P/E/G ratio of 2.03 and a beta of 0.92. The stock has a fifty day moving average of $61.55 and a 200-day moving average of $59.25.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Thursday, July 23rd. The basic materials company reported $1.35 EPS for the quarter, beating the consensus estimate of $0.95 by $0.40. The firm had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Teck Resources had a return on equity of 10.42% and a net margin of 17.85%.The business’s quarterly revenue was up 78.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.38 EPS. On average, research analysts anticipate that Teck Resources Ltd will post 3.48 EPS for the current year.

Teck Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a $0.125 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.7%. Teck Resources’s dividend payout ratio (DPR) is 9.76%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TECK. Norges Bank bought a new position in shares of Teck Resources in the 4th quarter valued at about $404,880,000. Wellington Management Group LLP raised 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 worth $253,695,000 after purchasing an additional 4,194,868 shares in the last quarter. Pentwater Capital Management LP boosted its holdings in shares of Teck Resources by 124.1% in the 4th quarter. Pentwater Capital Management LP now owns 6,500,000 shares of the basic materials company’s stock valued at $311,285,000 after buying an additional 3,600,000 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Teck Resources in the 4th quarter valued at approximately $169,999,000. Finally, Principal Financial Group Inc. grew its stake in shares of Teck Resources by 17.1% in the first quarter. Principal Financial Group Inc. now owns 22,044,284 shares of the basic materials company’s stock valued at $1,139,051,000 after buying an additional 3,211,985 shares in the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

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.