Teck Resources Ltd (NYSE:TECK) Receives $58.00 Consensus PT from Analysts

Shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) have been given an average rating of “Hold” by the nineteen ratings firms that are covering the company, Marketbeat reports. Twelve equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $57.00.

TECK has been the topic of a number of analyst reports. Citigroup upgraded Teck Resources from a “neutral” rating to a “buy” rating in a report on Monday, February 2nd. Veritas raised Teck Resources from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 15th. TD Securities restated a “hold” rating on shares of Teck Resources in a research report on Monday, February 23rd. Truist Financial set a $67.00 price objective on Teck Resources in a research note on Monday, February 23rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $46.00 price objective on shares of Teck Resources in a research report on Wednesday, November 26th.

Hedge Funds Weigh In On Teck Resources

A number of institutional investors have recently modified their holdings of the company. Brown Brothers Harriman & Co. acquired a new stake in Teck Resources during the fourth quarter worth approximately $25,000. Versant Capital Management Inc acquired a new position in Teck Resources in the 3rd quarter valued at $26,000. Smartleaf Asset Management LLC raised its holdings in Teck Resources by 72.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 351 shares during the last quarter. SouthState Bank Corp purchased a new position in shares of Teck Resources during the 3rd quarter worth $50,000. Finally, Tobam purchased a new position in shares of Teck Resources during the 2nd quarter worth $62,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Stock Up 2.9%

Shares of NYSE TECK opened at $52.44 on Friday. Teck Resources has a 12-month low of $28.32 and a 12-month high of $62.41. The company has a market capitalization of $25.24 billion, a PE ratio of 25.96, a price-to-earnings-growth ratio of 3.11 and a beta of 0.77. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.54 and a quick ratio of 1.91. The firm’s 50-day moving average is $54.60 and its two-hundred day moving average is $46.22.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Thursday, February 19th. The basic materials company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.39. Teck Resources had a net margin of 12.98% and a return on equity of 5.90%. The business had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same period last year, the company posted $0.45 EPS. The company’s revenue was up 9.8% on a year-over-year basis. Equities analysts anticipate that Teck Resources will post 1.53 EPS for the current fiscal year.

Teck Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be issued a dividend of $0.125 per share. The ex-dividend date is Friday, March 13th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.0%. Teck Resources’s payout ratio is 17.82%.

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.