Shares of Teck Resources Limited (NYSE:TECK - Get Free Report) TSE: TECK reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $35.14 and last traded at $35.68, with a volume of 521600 shares. The stock had previously closed at $37.45.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on TECK. Raymond James reduced their target price on Teck Resources from $75.00 to $70.00 and set an "outperform" rating for the company in a report on Wednesday, January 22nd. JPMorgan Chase & Co. reduced their price objective on Teck Resources from $55.00 to $51.00 and set an "overweight" rating for the company in a research note on Thursday, January 16th. National Bank Financial cut shares of Teck Resources from an "outperform" rating to a "sector perform" rating in a research note on Tuesday, December 10th. Finally, Bank of America upped their target price on shares of Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a report on Monday, March 10th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $65.22.
Read Our Latest Research Report on TECK
Teck Resources Price Performance
The firm has a market cap of $16.86 billion, a price-to-earnings ratio of 61.94 and a beta of 0.93. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The stock's fifty day moving average price is $40.99 and its 200-day moving average price is $44.38.
Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The company had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $2.58 billion. As a group, equities research analysts forecast that Teck Resources Limited will post 1.53 earnings per share for the current fiscal year.
Teck Resources Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.0879 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a yield of 1.03%. Teck Resources's payout ratio is currently 61.82%.
Institutional Investors Weigh In On Teck Resources
A number of institutional investors have recently made changes to their positions in TECK. Vanguard Group Inc. boosted its position in shares of Teck Resources by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 19,316,132 shares of the basic materials company's stock worth $783,153,000 after purchasing an additional 58,985 shares during the period. Amundi boosted its position in shares of Teck Resources by 5.6% during the fourth quarter. Amundi now owns 14,949,233 shares of the basic materials company's stock worth $619,765,000 after buying an additional 791,725 shares during the period. Norges Bank acquired a new stake in shares of Teck Resources in the fourth quarter valued at $470,101,000. Invesco Ltd. raised its holdings in shares of Teck Resources by 4.7% in the 4th quarter. Invesco Ltd. now owns 7,711,727 shares of the basic materials company's stock valued at $312,556,000 after buying an additional 347,235 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in shares of Teck Resources by 21.7% in the 3rd quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company's stock valued at $388,507,000 after buying an additional 1,326,241 shares during the period. 78.06% of the stock is currently owned by institutional investors and hedge funds.
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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