Brokerages Set Teck Resources Limited (NYSE:TECK) Price Target at $65.29

Teck Resources Limited (NYSE:TECK - Get Free Report) TSE: TECK has received an average recommendation of "Moderate Buy" from the eleven research firms that are presently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $65.29.

TECK has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft downgraded Teck Resources from a "buy" rating to a "hold" rating and set a $50.00 price target on the stock. in a research note on Friday, October 25th. Scotiabank increased their target price on Teck Resources from $78.00 to $79.00 and gave the company a "sector outperform" rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. decreased their target price on Teck Resources from $57.00 to $55.00 and set an "overweight" rating for the company in a research report on Friday, October 25th. Citigroup upgraded shares of Teck Resources to a "hold" rating in a research report on Wednesday, October 2nd. Finally, National Bank Financial cut shares of Teck Resources from an "outperform" rating to a "sector perform" rating in a report on Tuesday, December 10th.

Teck Resources Trading Up 0.2 %

Shares of TECK traded up $0.07 during trading hours on Friday, hitting $40.99. 1,546,417 shares of the stock traded hands, compared to its average volume of 1,419,408. The business has a fifty day moving average of $44.94 and a 200-day moving average of $47.06. The firm has a market capitalization of $21.00 billion, a PE ratio of 62.11 and a beta of 1.03. Teck Resources has a 1-year low of $36.50 and a 1-year high of $55.13. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.24. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The firm had revenue of $2.86 billion during the quarter, compared to analysts' expectations of $2.09 billion. During the same period in the previous year, the business posted $0.57 EPS. The company's quarterly revenue was down 20.6% compared to the same quarter last year. Analysts expect that Teck Resources will post 1.81 EPS for the current year.

Teck Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a dividend of $0.0895 per share. The ex-dividend date was Friday, December 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.87%. Teck Resources's dividend payout ratio is currently 56.06%.

Institutional Investors Weigh In On Teck Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. raised its holdings in shares of Teck Resources by 11.4% in the third quarter. Franklin Resources Inc. now owns 324,870 shares of the basic materials company's stock valued at $16,724,000 after purchasing an additional 33,235 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Teck Resources in the 3rd quarter valued at $40,000. Sanctuary Advisors LLC lifted its position in Teck Resources by 187.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 30,840 shares of the basic materials company's stock worth $1,611,000 after buying an additional 20,124 shares in the last quarter. SkyView Investment Advisors LLC boosted its stake in shares of Teck Resources by 4.7% during the 3rd quarter. SkyView Investment Advisors LLC now owns 14,958 shares of the basic materials company's stock worth $781,000 after buying an additional 675 shares during the last quarter. Finally, TCW Group Inc. bought a new position in shares of Teck Resources in the 3rd quarter valued at about $577,000. Institutional investors and hedge funds own 78.06% of the company's stock.

About Teck Resources

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.