Teck Resources Limited (NYSE:TECK) Receives $65.38 Average Price Target from Brokerages

Shares of Teck Resources Limited (NYSE:TECK - Get Free Report) TSE: TECK have received a consensus recommendation of "Moderate Buy" from the twelve analysts that are currently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $65.38.

A number of research analysts have issued reports on the stock. Scotiabank upped their target price on shares of Teck Resources from $78.00 to $79.00 and gave the company a "sector outperform" rating in a research report on Tuesday, October 8th. National Bank Financial downgraded Teck Resources from an "outperform" rating to a "sector perform" rating in a research note on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft cut shares of Teck Resources from a "buy" rating to a "hold" rating and set a $50.00 price target on the stock. in a research report on Friday, October 25th. UBS Group cut shares of Teck Resources from a "buy" rating to a "neutral" rating in a research note on Monday, November 11th. Finally, Raymond James dropped their price target on Teck Resources from $75.00 to $70.00 and set an "outperform" rating on the stock in a research note on Wednesday, January 22nd.

Hedge Funds Weigh In On Teck Resources

A number of institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC purchased a new position in Teck Resources during the second quarter valued at $213,000. Creative Planning raised its position in shares of Teck Resources by 4.4% in the 2nd quarter. Creative Planning now owns 37,821 shares of the basic materials company's stock worth $1,812,000 after purchasing an additional 1,605 shares during the last quarter. Cetera Investment Advisers boosted its stake in Teck Resources by 3.0% in the 2nd quarter. Cetera Investment Advisers now owns 38,099 shares of the basic materials company's stock worth $1,825,000 after purchasing an additional 1,127 shares in the last quarter. Clearbridge Investments LLC grew its position in Teck Resources by 2.7% during the 2nd quarter. Clearbridge Investments LLC now owns 1,065,704 shares of the basic materials company's stock valued at $51,047,000 after purchasing an additional 28,243 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in Teck Resources in the 2nd quarter worth approximately $540,000. 78.06% of the stock is owned by institutional investors.

Teck Resources Stock Performance

Shares of NYSE TECK traded up $0.56 during trading hours on Thursday, hitting $41.71. 2,391,253 shares of the stock were exchanged, compared to its average volume of 2,796,867. The firm has a market capitalization of $20.80 billion, a P/E ratio of 63.20 and a beta of 1.05. The company's 50 day moving average is $43.06 and its 200 day moving average is $46.22. Teck Resources has a one year low of $36.50 and a one year high of $55.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were given a dividend of $0.0895 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.36 annualized dividend and a yield of 0.86%. Teck Resources's payout ratio is 53.03%.

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.