Zacks Research Cuts Earnings Estimates for Teck Resources

Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK - Equities researchers at Zacks Research lowered their Q4 2024 earnings estimates for shares of Teck Resources in a report issued on Monday, February 10th. Zacks Research analyst M. Das now forecasts that the basic materials company will post earnings per share of $0.19 for the quarter, down from their previous 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 analysts have also recently issued research reports about the stock. UBS Group cut shares of Teck Resources from a "buy" rating to a "neutral" rating in a research note on Monday, November 11th. Deutsche Bank Aktiengesellschaft cut shares of Teck Resources from a "buy" rating to a "hold" rating and set a $50.00 price objective on the stock. in a research note on Friday, October 25th. JPMorgan Chase & Co. lowered their price objective on shares of 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 dropped their target price on shares of Teck Resources from $75.00 to $70.00 and set an "outperform" rating on the stock in a research report on Wednesday, January 22nd. Finally, National Bank Financial downgraded shares of Teck Resources from an "outperform" rating to a "sector perform" rating in a research report on Tuesday, December 10th. Six equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $65.38.

Teck Resources Price Performance

Teck Resources stock traded down $0.74 during trading hours on Wednesday, hitting $43.12. 2,432,855 shares of the company traded hands, compared to its average volume of 2,856,734. The firm has a market cap of $21.51 billion, a P/E ratio of 65.34 and a beta of 1.02. 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's 50-day simple moving average is $42.23 and its two-hundred day simple moving average is $45.85. Teck Resources has a 1-year low of $37.30 and a 1-year high of $55.13.

Institutional Trading of Teck Resources

Several institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its holdings in shares of Teck Resources by 2.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,632 shares of the basic materials company's stock worth $471,000 after purchasing an additional 243 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in shares of Teck Resources by 2.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 9,809 shares of the basic materials company's stock worth $398,000 after purchasing an additional 279 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in Teck Resources by 6.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,844 shares of the basic materials company's stock valued at $196,000 after acquiring an additional 297 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in Teck Resources by 2.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 13,959 shares of the basic materials company's stock valued at $566,000 after acquiring an additional 302 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in Teck Resources by 7.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 4,897 shares of the basic materials company's stock valued at $198,000 after acquiring an additional 327 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

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.