Brokerages Set Teck Resources Limited (NYSE:TECK) Price Target at $65.22

Teck Resources Limited (NYSE:TECK) (TSE:TECK) has earned a consensus rating of “Moderate Buy” from the thirteen ratings firms that are currently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $65.22.

Several equities analysts have commented on TECK shares. Bank of America increased their target price on shares of Teck Resources from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. 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 research note on Thursday, January 16th. Raymond James decreased their target price on Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, January 22nd. Finally, National Bank Financial lowered shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th.

Institutional Investors Weigh In On Teck Resources

Hedge funds have recently made changes to their positions in the stock. Stonebridge Financial Group LLC bought a new stake in Teck Resources in the 4th quarter valued at $25,000. Global Trust Asset Management LLC bought a new stake in Teck Resources in the fourth quarter valued at about $27,000. FPC Investment Advisory Inc. acquired a new position in Teck Resources in the fourth quarter worth about $27,000. Community Bank N.A. bought a new position in Teck Resources during the fourth quarter worth about $33,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Teck Resources during the third quarter valued at approximately $40,000. Institutional investors own 78.06% of the company’s stock.

Teck Resources Stock Down 1.9 %

Shares of Teck Resources stock opened at $39.35 on Friday. The stock has a 50-day simple moving average of $41.67 and a 200-day simple moving average of $44.69. Teck Resources has a 52-week low of $36.54 and a 52-week high of $55.13. The firm has a market cap of $19.80 billion, a price-to-earnings ratio of 71.54 and a beta of 0.93. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35.

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

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.0879 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.35 annualized dividend and a dividend yield of 0.89%. Teck Resources’s payout ratio is 61.82%.

Teck Resources Company Profile

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.