Teck Resources Limited (NYSE:TECK) Given Average Recommendation of "Moderate Buy" by Analysts

Teck Resources Limited (NYSE:TECK - Get Free Report) TSE: TECK has been assigned a consensus recommendation of "Moderate Buy" from the thirteen analysts that are presently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $65.22.

A number of research firms recently weighed in on TECK. Raymond James decreased their target price on Teck Resources from $75.00 to $70.00 and set an "outperform" rating on the stock in a report on Wednesday, January 22nd. Bank of America increased their price target on shares of Teck Resources from $62.00 to $64.00 and gave the company a "buy" rating in a report on Monday, March 10th. JPMorgan Chase & Co. decreased their target price on Teck Resources from $55.00 to $51.00 and set an "overweight" rating on the stock in a research report on Thursday, January 16th. Finally, National Bank Financial lowered Teck Resources from an "outperform" rating to a "sector perform" rating in a report on Tuesday, December 10th.

Teck Resources Stock Up 1.0 %

TECK stock traded up $0.42 during mid-day trading on Friday, reaching $41.89. The company had a trading volume of 3,109,204 shares, compared to its average volume of 3,097,773. Teck Resources has a 52 week low of $36.54 and a 52 week high of $55.13. The company has a market capitalization of $21.08 billion, a price-to-earnings ratio of 76.16 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. The stock has a 50 day simple moving average of $41.79 and a two-hundred day simple moving average of $44.78.

Remove Ads

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 EPS for the quarter, beating analysts' consensus estimates 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. As a group, equities analysts predict that Teck Resources will post 1.53 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.0879 dividend. This represents a $0.35 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Friday, March 14th. Teck Resources's dividend payout ratio is presently 61.82%.

Institutional Investors Weigh In On Teck Resources

A number of large investors have recently made changes to their positions in the business. Norges Bank bought a new position in shares of Teck Resources during the fourth quarter valued at approximately $470,101,000. Swedbank AB bought a new stake in shares of Teck Resources in the fourth quarter worth $103,878,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Teck Resources in the fourth quarter worth approximately $65,197,000. FMR LLC grew its holdings in Teck Resources by 72.8% during the third quarter. FMR LLC now owns 3,634,430 shares of the basic materials company's stock valued at $189,848,000 after purchasing an additional 1,531,563 shares during the period. Finally, AMF Tjanstepension AB lifted its holdings in Teck Resources by 32.2% during the fourth quarter. AMF Tjanstepension AB now owns 6,020,023 shares of the basic materials company's stock valued at $244,252,000 after purchasing an additional 1,467,516 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors.

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.