Teck Resources Ltd (NYSE:TECK) Receives $60.17 Consensus PT from Analysts

Shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) have earned a consensus rating of “Hold” from the seventeen brokerages that are currently covering the stock, MarketBeat reports. Twelve equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $63.00.

Several brokerages have recently commented on TECK. Wall Street Zen upgraded Teck Resources to a “buy” rating in a research report on Saturday, May 16th. Zacks Research cut Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft lifted their target price on Teck Resources from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. TD Securities reissued a “hold” rating on shares of Teck Resources in a report on Friday, April 24th. Finally, Weiss Ratings upgraded Teck Resources from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, April 24th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. PensionDanmark Pensionsforsikringsaktieselskab lifted its position in shares of Teck Resources by 2.8% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 191,700 shares of the basic materials company’s stock worth $11,413,000 after buying an additional 5,220 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Teck Resources by 23.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 17,299 shares of the basic materials company’s stock worth $1,030,000 after acquiring an additional 3,302 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of Teck Resources by 86.5% during the 2nd quarter. Versant Capital Management Inc now owns 1,587 shares of the basic materials company’s stock valued at $94,000 after acquiring an additional 736 shares during the last quarter. Brandywine Financial Group purchased a new position in shares of Teck Resources in the first quarter valued at $5,251,000. Finally, Rathbones Group PLC increased its position in Teck Resources by 80.8% in the first quarter. Rathbones Group PLC now owns 8,648 shares of the basic materials company’s stock worth $447,000 after purchasing an additional 3,865 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Trading Down 3.4%

Shares of Teck Resources stock opened at $58.03 on Thursday. The company has a market capitalization of $28.01 billion, a P/E ratio of 21.26, a P/E/G ratio of 1.78 and a beta of 0.92. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.16 and a current ratio of 2.83. The company has a fifty day moving average of $62.48 and a 200 day moving average of $57.10. Teck Resources has a fifty-two week low of $30.98 and a fifty-two week high of $71.25.

Teck Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Monday, June 15th. Teck Resources’s dividend payout ratio (DPR) is presently 13.19%.

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.