Teck Resources Limited (NYSE:TECK) to Post Q4 2024 Earnings of $0.29 Per Share, B. Riley Forecasts

Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK - Research analysts at B. Riley lifted their Q4 2024 earnings estimates for Teck Resources in a note issued to investors on Tuesday, October 1st. B. Riley analyst L. Pipes now expects that the basic materials company will post earnings per share of $0.29 for the quarter, up from their previous estimate of $0.28. The consensus estimate for Teck Resources' current full-year earnings is $1.98 per share. B. Riley also issued estimates for Teck Resources' FY2025 earnings at $1.24 EPS and FY2026 earnings at $1.02 EPS.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.47 by $0.32. Teck Resources had a net margin of 9.40% and a return on equity of 6.52%. The business had revenue of $3.87 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same quarter last year, the business earned $0.91 earnings per share. Teck Resources's quarterly revenue was up 10.1% compared to the same quarter last year.

Several other equities research analysts also recently weighed in on the stock. UBS Group raised shares of Teck Resources from a "neutral" rating to a "buy" rating and increased their target price for the company from $76.00 to $78.00 in a research note on Wednesday, September 4th. StockNews.com lowered Teck Resources from a "hold" rating to a "sell" rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. reduced their price target on Teck Resources from $56.00 to $54.00 and set an "overweight" rating on the stock in a report on Thursday, July 25th. Eight Capital lowered Teck Resources from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 11th. Finally, Morgan Stanley upped their price objective on Teck Resources from $55.00 to $60.00 and gave the company an "overweight" rating in a research report on Friday, June 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $65.00.

Teck Resources Trading Down 2.0 %

Shares of NYSE:TECK traded down $1.04 during trading on Thursday, reaching $51.34. The company's stock had a trading volume of 2,108,009 shares, compared to its average volume of 3,446,228. The firm's 50 day simple moving average is $47.56 and its two-hundred day simple moving average is $48.20. The company has a current ratio of 1.48, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19. Teck Resources has a 12 month low of $34.38 and a 12 month high of $55.13. The stock has a market capitalization of $26.23 billion, a PE ratio of 22.72 and a beta of 1.02.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC boosted its stake in shares of Teck Resources by 143.0% during the first quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company's stock valued at $30,000 after purchasing an additional 386 shares in the last quarter. Creekmur Asset Management LLC purchased a new position in shares of Teck Resources in the 4th quarter valued at $35,000. Headlands Technologies LLC purchased a new position in shares of Teck Resources in the 2nd quarter valued at $38,000. Optiver Holding B.V. raised its position in shares of Teck Resources by 81.9% in the 4th quarter. Optiver Holding B.V. now owns 973 shares of the basic materials company's stock worth $41,000 after acquiring an additional 438 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Teck Resources by 583.1% during the 2nd quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company's stock worth $48,000 after purchasing an additional 898 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company's stock.

Teck Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.625 per share. This is an increase from Teck Resources's previous quarterly dividend of $0.09. The ex-dividend date was Friday, September 13th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 4.87%. Teck Resources's dividend payout ratio is presently 16.37%.

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.