Teck Resources (NYSE:TECK) (TSE:TECK) gapped up prior to trading on Wednesday . The stock had previously closed at $27.05, but opened at $26.98. Teck Resources shares last traded at $26.98, with a volume of 3252410 shares changing hands.
A number of equities research analysts have commented on TECK shares. Scotiabank raised shares of Teck Resources from an “outperform” rating to a “focus list” rating in a research report on Monday, January 8th. Clarkson Capital downgraded shares of Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, January 15th. Zacks Investment Research raised shares of Teck Resources from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research report on Wednesday, January 31st. Bank of America set a $36.00 price objective on shares of Teck Resources and gave the company a “buy” rating in a research report on Friday, February 9th. Finally, ValuEngine raised shares of Teck Resources from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Teck Resources has an average rating of “Buy” and a consensus target price of $31.05.
The company has a current ratio of 1.81, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32. The firm has a market cap of $14,781.74, a PE ratio of 7.87, a price-to-earnings-growth ratio of 0.67 and a beta of 1.50.
Teck Resources (NYSE:TECK) (TSE:TECK) last issued its earnings results on Wednesday, February 14th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.06). Teck Resources had a net margin of 20.83% and a return on equity of 13.69%. The company had revenue of $3.21 billion during the quarter, compared to analyst estimates of $3.28 billion. During the same quarter in the previous year, the company posted $1.61 EPS. The company’s quarterly revenue was down 9.8% on a year-over-year basis. research analysts forecast that Teck Resources will post 3.76 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Thursday, March 15th were paid a dividend of $0.04 per share. The ex-dividend date was Wednesday, March 14th. This represents a $0.16 dividend on an annualized basis and a yield of 0.59%. This is a boost from Teck Resources’s previous quarterly dividend of $0.04. Teck Resources’s dividend payout ratio is currently 4.66%.
A number of large investors have recently modified their holdings of the stock. QS Investors LLC boosted its stake in Teck Resources by 13.7% during the 4th quarter. QS Investors LLC now owns 15,349 shares of the basic materials company’s stock worth $402,000 after purchasing an additional 1,849 shares during the period. Bartlett & Co. LLC acquired a new stake in Teck Resources during the 4th quarter worth $118,000. Cubist Systematic Strategies LLC boosted its stake in Teck Resources by 14.4% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 35,773 shares of the basic materials company’s stock worth $754,000 after purchasing an additional 4,514 shares during the period. Levin Capital Strategies L.P. boosted its stake in Teck Resources by 1.9% during the 4th quarter. Levin Capital Strategies L.P. now owns 272,465 shares of the basic materials company’s stock worth $7,130,000 after purchasing an additional 5,000 shares during the period. Finally, We Are One Seven LLC acquired a new stake in Teck Resources during the 4th quarter worth $162,000. Hedge funds and other institutional investors own 54.32% of the company’s stock.
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About Teck Resources
Teck Resources Limited researches, explores for, develops, and produces natural resources in the Americas, the Asia Pacific, and Europe. It operates through five segments: Steelmaking Coal, Copper, Zinc, Energy, and Corporate. The company's principal products comprise steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.
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