Teck Resources Limited (NYSE:TECK) Given Consensus Rating 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 ten analysts that are currently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $65.29.

Several equities research analysts have weighed in on TECK shares. Deutsche Bank Aktiengesellschaft lowered shares of Teck Resources from a "buy" rating to a "hold" rating and set a $50.00 target price on the stock. in a report on Friday, October 25th. Paradigm Capital upgraded Teck Resources to a "moderate buy" rating in a report on Friday, July 26th. Citigroup upgraded Teck Resources to a "hold" rating in a report on Wednesday, October 2nd. Scotiabank lifted their price objective on Teck Resources from $78.00 to $79.00 and gave the company a "sector outperform" rating in a report on Tuesday, October 8th. Finally, StockNews.com upgraded shares of Teck Resources from a "sell" rating to a "hold" rating in a report on Thursday, October 24th.

Institutional Trading of Teck Resources

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Teck Resources by 1.8% during the first quarter. Vanguard Group Inc. now owns 16,721,130 shares of the basic materials company's stock worth $765,493,000 after acquiring an additional 290,034 shares in the last quarter. Country Club Bank acquired a new stake in Teck Resources in the 2nd quarter valued at about $1,747,000. Atria Investments Inc bought a new position in Teck Resources during the first quarter worth about $1,141,000. Intech Investment Management LLC acquired a new position in Teck Resources during the first quarter worth approximately $1,086,000. Finally, Klein Pavlis & Peasley Financial Inc. raised its stake in Teck Resources by 233.3% in the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 28,000 shares of the basic materials company's stock valued at $1,341,000 after buying an additional 19,600 shares during the period. Institutional investors and hedge funds own 78.06% of the company's stock.

Teck Resources Trading Down 0.9 %

TECK stock traded down $0.39 during midday trading on Friday, reaching $44.99. The company's stock had a trading volume of 2,556,154 shares, compared to its average volume of 3,408,836. The business's 50-day simple moving average is $48.73 and its 200-day simple moving average is $48.66. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. Teck Resources has a 52 week low of $34.56 and a 52 week high of $55.13. The stock has a market cap of $22.68 billion, a PE ratio of 68.17 and a beta of 1.04.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.24. The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.09 billion. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The company's revenue for the quarter was down 20.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.57 EPS. As a group, sell-side analysts expect that Teck Resources will post 1.84 EPS for the current year.

Teck Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a dividend of $0.0895 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.80%. Teck Resources's dividend payout ratio is 56.06%.

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.