Teck Resources Ltd (TECK) Given “Outperform” Rating at Royal Bank of Canada
Teck Resources Ltd (NYSE:TECK) (TSE:TECK)‘s stock had its “outperform” rating reissued by equities research analysts at Royal Bank of Canada in a report released on Friday. They currently have a $38.00 price target on the basic materials company’s stock, down from their prior price target of $39.00. Royal Bank of Canada’s target price indicates a potential upside of 154.35% from the stock’s previous close.
Several other research analysts also recently commented on TECK. Zacks Investment Research downgraded Teck Resources from a “buy” rating to a “hold” rating in a report on Tuesday, February 21st. Berenberg Bank reiterated a “hold” rating and issued a $25.50 price objective on shares of Teck Resources in a report on Thursday, February 16th. Bank of America Corporation downgraded Teck Resources from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $27.00 to $19.00 in a report on Friday, June 9th. Clarkson Capital reiterated a “buy” rating on shares of Teck Resources in a report on Friday, May 19th. Finally, Deutsche Bank AG downgraded Teck Resources from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $26.00 to $24.00 in a report on Thursday, February 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty have issued a buy rating to the company. Teck Resources has a consensus rating of “Buy” and an average price target of $26.00.
Teck Resources (TECK) traded down 8.23% during midday trading on Friday, hitting $14.94. The company’s stock had a trading volume of 13,754,877 shares. The stock has a 50 day moving average of $18.45 and a 200 day moving average of $21.43. The company has a market cap of $8.63 billion, a PE ratio of 7.75 and a beta of 1.22. Teck Resources has a 52-week low of $11.04 and a 52-week high of $26.60.
Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Tuesday, April 25th. The basic materials company reported $0.88 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by $0.16. The company had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Teck Resources had a return on equity of 10.02% and a net margin of 14.37%. The company’s quarterly revenue was up 70.4% compared to the same quarter last year. On average, equities analysts expect that Teck Resources will post $3.38 EPS for the current year.
The company also recently disclosed a semiannual dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be given a dividend of $0.0741 per share. This represents a yield of 0.72%. This is a boost from Teck Resources’s previous semiannual dividend of $0.04. The ex-dividend date is Tuesday, June 13th. Teck Resources’s payout ratio is presently 7.69%.
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About Teck Resources
Teck Resources Ltd is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company’s activities are organized into business units that are focused on steelmaking coal, copper, zinc and energy. It operates in five segments: steelmaking coal, copper, zinc, energy and corporate.
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