Zacks Research Predicts Lower Earnings for Teck Resources

Teck Resources Limited (NYSE:TECK) (TSE:TECK) – Research analysts at Zacks Research decreased their Q4 2024 earnings per share (EPS) estimates for shares of Teck Resources in a research report issued on Monday, February 10th. Zacks Research analyst M. Das now forecasts that the basic materials company will earn $0.19 per share for the quarter, down from their prior forecast of $0.20. The consensus estimate for Teck Resources’ current full-year earnings is $1.64 per share. Zacks Research also issued estimates for Teck Resources’ Q1 2025 earnings at $0.18 EPS, FY2025 earnings at $1.14 EPS and FY2026 earnings at $1.30 EPS.

Other equities research analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 target price for the company. in a report on Friday, October 25th. StockNews.com raised shares of Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Raymond James cut their target price on Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 22nd. UBS Group downgraded Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. cut their price objective on Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Teck Resources currently has a consensus rating of “Moderate Buy” and an average target price of $65.38.

Teck Resources Stock Performance

Teck Resources stock opened at $42.28 on Wednesday. The stock has a fifty day moving average price of $42.36 and a 200 day moving average price of $45.92. Teck Resources has a 52 week low of $36.50 and a 52 week high of $55.13. The firm has a market capitalization of $21.09 billion, a P/E ratio of 64.06 and a beta of 1.02. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a dividend of $0.0895 per share. The ex-dividend date was Friday, December 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.85%. Teck Resources’s payout ratio is currently 53.03%.

Institutional Trading of Teck Resources

A number of hedge funds have recently made changes to their positions in TECK. Synergy Asset Management LLC increased its position in shares of Teck Resources by 77.7% during the fourth quarter. Synergy Asset Management LLC now owns 16,892 shares of the basic materials company’s stock worth $685,000 after acquiring an additional 7,387 shares during the last quarter. Forest Avenue Capital Management LP raised its position in shares of Teck Resources by 3.7% in the 3rd quarter. Forest Avenue Capital Management LP now owns 720,920 shares of the basic materials company’s stock valued at $37,661,000 after purchasing an additional 25,430 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Teck Resources in the 3rd quarter valued at approximately $1,937,000. CIBC Asset Management Inc raised its position in shares of Teck Resources by 2.6% in the 3rd quarter. CIBC Asset Management Inc now owns 6,495,880 shares of the basic materials company’s stock valued at $341,337,000 after purchasing an additional 165,759 shares in the last quarter. Finally, Intech Investment Management LLC grew its position in shares of Teck Resources by 20.9% during the third quarter. Intech Investment Management LLC now owns 98,145 shares of the basic materials company’s stock worth $5,132,000 after buying an additional 16,981 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

About Teck Resources

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.