Teck Resources Limited (NYSE:TECK) Receives Average Rating of "Moderate Buy" from Analysts

Shares of Teck Resources Limited (NYSE:TECK - Get Free Report) TSE: TECK have received an average recommendation of "Moderate Buy" from the sixteen research firms that are covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $64.11.

Several equities research analysts have recently issued reports on the company. Veritas upgraded Teck Resources to a "hold" rating in a report on Friday, April 11th. Bank of America increased their price target on shares of Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. National Bankshares reaffirmed a "sector perform" rating on shares of Teck Resources in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. cut their target price on Teck Resources from $50.00 to $41.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Finally, UBS Group reiterated a "neutral" rating on shares of Teck Resources in a research note on Tuesday.

Teck Resources Stock Down 1.6 %

Shares of TECK traded down $0.55 during trading hours on Tuesday, reaching $32.90. The company's stock had a trading volume of 2,714,398 shares, compared to its average volume of 3,184,467. 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 has a market cap of $16.28 billion, a price-to-earnings ratio of 59.82 and a beta of 0.81. The company has a 50 day moving average of $38.60 and a two-hundred day moving average of $42.95. Teck Resources has a 1-year low of $28.32 and a 1-year high of $55.13.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (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 analyst estimates of $2.58 billion. As a group, research analysts predict that Teck Resources will post 1.53 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $0.0879 dividend. This represents a $0.35 annualized dividend and a dividend yield of 1.07%. The ex-dividend date was Friday, March 14th. Teck Resources's payout ratio is presently 61.82%.

Hedge Funds Weigh In On Teck Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Teck Resources during the fourth quarter valued at approximately $470,101,000. Swedbank AB acquired a new position in shares of Teck Resources in the 4th quarter valued at $103,878,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Teck Resources during the 4th quarter worth about $65,197,000. AMF Tjanstepension AB increased its stake in Teck Resources by 32.2% in 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 acquiring an additional 1,467,516 shares during the period. Finally, Principal Financial Group Inc. raised its position in Teck Resources by 21.7% in the third quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company's stock worth $388,507,000 after purchasing an additional 1,326,241 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.