Teck Resources (NYSE:TECK) Reaches New 52-Week High – Still a Buy?

Teck Resources Ltd (NYSE:TECK) (TSE:TECK)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $62.95 and last traded at $62.5950, with a volume of 1277792 shares changing hands. The stock had previously closed at $59.26.

Trending Headlines about Teck Resources

Here are the key news stories impacting Teck Resources this week:

• Positive Sentiment: Q1 results materially beat expectations — Teck reported roughly $1.25–$1.28 EPS versus consensus ~ $0.74–$0.91 and revenue surged year-over-year, driven by record copper sales. GlobeNewswire: Q1 Results
• Positive Sentiment: Record copper sales and sustained operational performance were highlighted in the company release and slide deck — positive for revenue and cash flow if copper prices remain strong. Q1 Slide Deck
• Positive Sentiment: Analysts lifted EPS forecasts and Zacks highlighted potential upside — upgrade/estimate momentum supports the share move. Analyst Estimate Boost Zacks Analyst Blog
• Neutral Sentiment: Zacks published a metrics comparison and analyst previews — useful for modeling relative to consensus but not new directional information beyond the beat. Zacks: Key Metrics
• Neutral Sentiment: Company earnings presentation posted (slides/earnings call) — provides detail for investors to reassess guidance, costs and production mix. Earnings Presentation
• Negative Sentiment: Teck warned of higher fuel costs for its Chilean copper operations tied to Middle East energy disruptions — could pressure margins and offset some of the Q1 upside if sustained. Financial Post: Fuel Cost Warning
• Negative Sentiment: Teck lost a court case over sales tax on coal used at a smelting facility — potential incremental tax/cash outflow and precedent risk for similar exposures. MSN: Court Loss

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. TD Securities restated a “hold” rating on shares of Teck Resources in a research report on Monday, February 23rd. Veritas upgraded Teck Resources from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 15th. Scotiabank reiterated a “sector perform” rating on shares of Teck Resources in a research note on Tuesday, April 14th. UBS Group reiterated a “buy” rating on shares of Teck Resources in a research note on Tuesday, January 27th. Finally, Citigroup upgraded Teck Resources from a “neutral” rating to a “buy” rating in a research note on Monday, February 2nd. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, Teck Resources presently has a consensus rating of “Hold” and an average price target of $59.67.

Teck Resources Price Performance

The stock has a market capitalization of $29.73 billion, a price-to-earnings ratio of 30.62, a price-to-earnings-growth ratio of 2.97 and a beta of 0.85. The company has a 50 day moving average of $54.52 and a 200 day moving average of $49.30. The company has a quick ratio of 1.91, a current ratio of 2.54 and a debt-to-equity ratio of 0.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Thursday, February 19th. The basic materials company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.59 by $0.39. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.28 billion. Teck Resources had a return on equity of 5.90% and a net margin of 12.98%.The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.45 earnings per share. As a group, equities research analysts forecast that Teck Resources Ltd will post 2.59 EPS for the current fiscal year.

Teck Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were paid a dividend of $0.125 per share. The ex-dividend date was Friday, March 13th. This represents a $0.50 annualized dividend and a yield of 0.8%. Teck Resources’s dividend payout ratio is currently 17.82%.

Institutional Investors Weigh In On Teck Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Louisbourg Investments Inc. increased its stake in Teck Resources by 10.3% during the first quarter. Louisbourg Investments Inc. now owns 175,850 shares of the basic materials company’s stock worth $9,096,000 after acquiring an additional 16,388 shares during the last quarter. Union Bancaire Privee UBP SA increased its stake in Teck Resources by 36.2% during the first quarter. Union Bancaire Privee UBP SA now owns 32,096 shares of the basic materials company’s stock worth $1,661,000 after acquiring an additional 8,536 shares during the last quarter. Welch Group LLC increased its stake in Teck Resources by 6.2% during the first quarter. Welch Group LLC now owns 6,266 shares of the basic materials company’s stock worth $324,000 after acquiring an additional 367 shares during the last quarter. Blue Trust Inc. increased its stake in Teck Resources by 411.8% during the first quarter. Blue Trust Inc. now owns 563 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 453 shares during the last quarter. Finally, Banque Cantonale Vaudoise increased its stake in Teck Resources by 33.3% during the first quarter. Banque Cantonale Vaudoise now owns 5,200 shares of the basic materials company’s stock worth $269,000 after acquiring an additional 1,300 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

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.