Teck Resources Limited (NYSE:TECK) Receives $64.11 Consensus Target Price from Brokerages

Shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) have been assigned a consensus rating of “Moderate Buy” from the sixteen research firms that are currently covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $64.11.

A number of research analysts have recently commented on the stock. UBS Group reissued a “neutral” rating on shares of Teck Resources in a report on Tuesday, April 15th. Raymond James lowered their price target on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, January 22nd. Veritas upgraded Teck Resources to a “hold” rating in a research report on Friday, April 11th. JPMorgan Chase & Co. lowered their price objective on Teck Resources from $50.00 to $41.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Finally, BMO Capital Markets assumed coverage on shares of Teck Resources in a report on Wednesday, April 16th. They set an “outperform” rating on the stock.

Institutional Investors Weigh In On Teck Resources

A number of hedge funds have recently added to or reduced their stakes in TECK. Stonebridge Financial Group LLC acquired a new stake in shares of Teck Resources during the 4th quarter worth approximately $25,000. FPC Investment Advisory Inc. bought a new stake in Teck Resources in the fourth quarter valued at $27,000. Global Trust Asset Management LLC acquired a new position in shares of Teck Resources during the fourth quarter valued at about $27,000. Wilmington Savings Fund Society FSB bought a new position in shares of Teck Resources during the 3rd quarter worth about $40,000. Finally, Community Bank N.A. acquired a new stake in shares of Teck Resources in the 4th quarter valued at about $33,000. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Price Performance

TECK stock opened at $32.72 on Tuesday. The company’s 50-day moving average price is $38.21 and its two-hundred day moving average price is $42.56. Teck Resources has a 12 month low of $28.32 and a 12 month high of $55.13. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The firm has a market cap of $16.19 billion, a P/E ratio of 59.49 and a beta of 0.81.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.07. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $2.58 billion. On average, analysts anticipate that Teck Resources will post 1.53 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.0879 dividend. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend was Friday, March 14th. Teck Resources’s dividend payout ratio is 61.82%.

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.