Teck Resources Limited (NYSE:TECK) Receives $65.29 Consensus Target Price from Analysts

Teck Resources Limited (NYSE:TECK) (TSE:TECK) has received a consensus recommendation of “Moderate Buy” from the eleven analysts that are presently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $65.29.

Several equities analysts recently weighed in on the company. StockNews.com raised Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft downgraded Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a research report on Friday, October 25th. Scotiabank raised their price target on Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. dropped their price target 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. Finally, Citigroup raised Teck Resources to a “hold” rating in a research report on Wednesday, October 2nd.

Institutional Investors Weigh In On Teck Resources

Several hedge funds have recently made changes to their positions in the business. Daymark Wealth Partners LLC boosted its holdings in shares of Teck Resources by 2.8% during the third quarter. Daymark Wealth Partners LLC now owns 8,774 shares of the basic materials company’s stock worth $458,000 after purchasing an additional 242 shares during the last quarter. Cigna Investments Inc. New boosted its holdings in Teck Resources by 3.8% in the second quarter. Cigna Investments Inc. New now owns 8,762 shares of the basic materials company’s stock valued at $420,000 after acquiring an additional 317 shares during the last quarter. Candriam S.C.A. boosted its holdings in Teck Resources by 4.0% in the second quarter. Candriam S.C.A. now owns 8,897 shares of the basic materials company’s stock valued at $426,000 after acquiring an additional 343 shares during the last quarter. Evergreen Capital Management LLC boosted its holdings in Teck Resources by 7.8% in the second quarter. Evergreen Capital Management LLC now owns 5,064 shares of the basic materials company’s stock valued at $243,000 after acquiring an additional 365 shares during the last quarter. Finally, Bruce G. Allen Investments LLC boosted its holdings in Teck Resources by 77.4% in the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 383 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Stock Performance

NYSE TECK opened at $44.09 on Wednesday. Teck Resources has a 1-year low of $36.50 and a 1-year high of $55.13. The company has a market capitalization of $22.59 billion, a P/E ratio of 66.80 and a beta of 1.03. The business has a 50 day moving average price of $47.57 and a 200 day moving average price of $47.91. 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) (TSE:TECK) last released its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.60 earnings per share for the quarter, beating 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 the consensus estimate of $2.09 billion. During the same period last year, the business posted $0.57 EPS. Teck Resources’s quarterly revenue was down 20.6% on a year-over-year basis. Sell-side analysts expect that Teck Resources will post 1.81 EPS for the current fiscal 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 issued a dividend of $0.0895 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Friday, December 13th. Teck Resources’s dividend payout ratio (DPR) 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.