Macquarie assumed coverage on shares of Teck Resources (NYSE:TECK) (TSE:TECK) in a report released on Wednesday, BenzingaRatingsTable reports. The firm issued a neutral rating on the basic materials company’s stock.
A number of other research analysts have also recently weighed in on TECK. Zacks Investment Research upgraded First Industrial Realty Trust from a hold rating to a buy rating and set a $39.00 price target for the company in a research report on Wednesday, June 5th. Barclays set a $192.00 price target on Tesla and gave the company a sell rating in a research report on Tuesday, April 9th. Bank of America set a $152.00 price target on Caterpillar and gave the company a buy rating in a research report on Thursday, April 4th. Raymond James restated a buy rating on shares of Teck Resources in a research report on Thursday, April 4th. Finally, MKM Partners restated a buy rating and issued a $28.00 price target (up previously from $26.00) on shares of Teck Resources in a research report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Teck Resources has a consensus rating of Buy and an average price target of $29.14.
NYSE:TECK opened at $21.68 on Wednesday. The business has a fifty day simple moving average of $21.67. The stock has a market capitalization of $12.03 billion, a PE ratio of 6.90 and a beta of 1.37. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.95 and a quick ratio of 2.06. Teck Resources has a 1 year low of $18.17 and a 1 year high of $26.40.
Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. Teck Resources had a return on equity of 9.59% and a net margin of 23.71%. The firm had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the prior year, the business posted $1.31 earnings per share. Sell-side analysts anticipate that Teck Resources will post 2.95 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $0.037 per share. This represents a $0.15 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date was Thursday, June 13th. Teck Resources’s dividend payout ratio is presently 4.78%.
A number of institutional investors have recently bought and sold shares of TECK. Quadrant Capital Group LLC boosted its stake in Teck Resources by 35.4% in the 1st quarter. Quadrant Capital Group LLC now owns 7,388 shares of the basic materials company’s stock worth $168,000 after buying an additional 1,931 shares during the last quarter. Beutel Goodman & Co Ltd. acquired a new stake in Teck Resources in the 1st quarter worth about $252,000. We Are One Seven LLC boosted its stake in Teck Resources by 80.2% in the 1st quarter. We Are One Seven LLC now owns 10,981 shares of the basic materials company’s stock worth $254,000 after buying an additional 4,887 shares during the last quarter. Gotham Asset Management LLC boosted its stake in Teck Resources by 15.5% in the 4th quarter. Gotham Asset Management LLC now owns 12,749 shares of the basic materials company’s stock worth $275,000 after buying an additional 1,711 shares during the last quarter. Finally, HCR Wealth Advisors acquired a new stake in Teck Resources in the 1st quarter worth about $294,000. Hedge funds and other institutional investors own 55.23% of the company’s stock.
About Teck Resources
Teck Resources Limited researches, explores for, develops, and produces natural resources in the Asia Pacific, the Americas, and Europe. It operates through five segments: Steelmaking, Coal, Copper, Zinc, Energy, and Corporate. The company's principal products include 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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