Teck Resources Limited (NYSE:TECK - Get Free Report) TSE: TECK reached a new 52-week low during mid-day trading on Monday . The company traded as low as $28.35 and last traded at $29.71, with a volume of 2447247 shares. The stock had previously closed at $29.96.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on TECK shares. National Bankshares reiterated a "sector perform" rating on shares of Teck Resources in a research note on Wednesday, April 2nd. 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. JPMorgan Chase & Co. reduced their price objective on Teck Resources from $50.00 to $41.00 and set an "overweight" rating for the company in a research note on Thursday. Bank of America upped their target price on Teck Resources from $62.00 to $64.00 and gave the company a "buy" rating in a research report on Monday, March 10th. Finally, Desjardins began coverage on shares of Teck Resources in a report on Friday, April 4th. They issued a "buy" rating on the stock. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.11.
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Teck Resources Stock Up 6.0 %
The business's fifty day simple moving average is $39.35 and its two-hundred day simple moving average is $43.42. The company has a market cap of $16.66 billion, a PE ratio of 61.20 and a beta of 0.81. 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 (NYSE:TECK - Get Free Report) TSE: TECK last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.07. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2.58 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. On average, analysts predict that Teck Resources Limited will post 1.53 earnings per share for the current year.
Teck Resources Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.0879 per share. The ex-dividend date was Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.04%. Teck Resources's dividend payout ratio (DPR) is 61.82%.
Institutional Investors Weigh In On Teck Resources
A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Teck Resources by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 19,316,132 shares of the basic materials company's stock valued at $783,153,000 after purchasing an additional 58,985 shares in the last quarter. Amundi raised its position in shares of Teck Resources by 5.6% during the 4th quarter. Amundi now owns 14,949,233 shares of the basic materials company's stock worth $619,765,000 after purchasing an additional 791,725 shares during the last quarter. Norges Bank purchased a new position in Teck Resources in the 4th quarter valued at about $470,101,000. Invesco Ltd. boosted its holdings in Teck Resources by 4.7% in the 4th quarter. Invesco Ltd. now owns 7,711,727 shares of the basic materials company's stock worth $312,556,000 after buying an additional 347,235 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Teck Resources by 21.7% during the 3rd quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company's stock worth $388,507,000 after buying an additional 1,326,241 shares in the last quarter. Institutional investors and hedge funds own 78.06% of the company's stock.
Teck Resources Company Profile
(
Get Free Report)
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.
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