Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK - Investment analysts at B. Riley lowered their Q4 2024 earnings per share (EPS) estimates for Teck Resources in a note issued to investors on Tuesday, January 28th. B. Riley analyst N. Giles now expects that the basic materials company will post earnings of $0.23 per share for the quarter, down from their previous estimate of $0.26. The consensus estimate for Teck Resources' current full-year earnings is $1.69 per share. B. Riley also issued estimates for Teck Resources' FY2025 earnings at $1.53 EPS and FY2026 earnings at $1.39 EPS.
TECK has been the subject of several other reports. JPMorgan Chase & Co. reduced their target price on shares of Teck Resources from $55.00 to $51.00 and set an "overweight" rating for the company in a report on Thursday, January 16th. National Bank Financial cut Teck Resources from an "outperform" rating to a "sector perform" rating in a report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft cut shares of Teck Resources from a "buy" rating to a "hold" rating and set a $50.00 target price on the stock. in a research 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. Finally, Citigroup raised Teck Resources to a "hold" rating in a research note on Wednesday, October 2nd. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $65.38.
Read Our Latest Stock Analysis on TECK
Teck Resources Stock Performance
Shares of NYSE TECK traded up $0.21 during midday trading on Wednesday, hitting $41.06. 3,393,048 shares of the stock traded hands, compared to its average volume of 2,818,414. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. Teck Resources has a one year low of $36.50 and a one year high of $55.13. The firm has a market capitalization of $20.48 billion, a P/E ratio of 62.22 and a beta of 1.05. The firm has a 50-day moving average of $43.17 and a two-hundred day moving average of $46.25.
Teck Resources Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were given a dividend of $0.0895 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.87%. Teck Resources's payout ratio is 53.03%.
Institutional Investors Weigh In On Teck Resources
Several hedge funds have recently modified their holdings of the company. AQR Capital Management LLC purchased a new position in Teck Resources in the 2nd quarter valued at about $213,000. Creative Planning increased its holdings in shares of Teck Resources by 4.4% during the second quarter. Creative Planning now owns 37,821 shares of the basic materials company's stock valued at $1,812,000 after purchasing an additional 1,605 shares during the period. Cetera Investment Advisers raised its position in shares of Teck Resources by 3.0% during the 2nd quarter. Cetera Investment Advisers now owns 38,099 shares of the basic materials company's stock worth $1,825,000 after buying an additional 1,127 shares in the last quarter. Clearbridge Investments LLC raised its holdings in Teck Resources by 2.7% during the second quarter. Clearbridge Investments LLC now owns 1,065,704 shares of the basic materials company's stock worth $51,047,000 after purchasing an additional 28,243 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Teck Resources in the second quarter valued at $540,000. 78.06% of the stock is owned by institutional investors and hedge funds.
About Teck Resources
(
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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.
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