Teck Resources Ltd (TECK) Stock Rating Reaffirmed by Deutsche Bank AG
Teck Resources Ltd (NYSE:TECK) (TSE:TECK)‘s stock had its “buy” rating reiterated by analysts at Deutsche Bank AG in a report released on Sunday. They presently have a $23.00 price target on the basic materials company’s stock, down from their previous price target of $24.00. Deutsche Bank AG’s target price points to a potential upside of 38.97% from the stock’s current price.
Other analysts have also issued reports about the stock. Clarkson Capital restated a “buy” rating on shares of Teck Resources in a research note on Friday, May 19th. Credit Suisse Group restated an “outperform” rating on shares of Teck Resources in a research note on Tuesday, April 18th. Royal Bank Of Canada restated an “outperform” rating and set a $38.00 target price (down from $39.00) on shares of Teck Resources in a research note on Friday, June 16th. J P Morgan Chase & Co upgraded shares of Teck Resources from a “neutral” rating to an “overweight” rating in a research note on Tuesday, May 30th. Finally, Berenberg Bank upgraded shares of Teck Resources from a “hold” rating to a “buy” rating in a research note on Wednesday, March 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $25.89.
Shares of Teck Resources (TECK) traded up 4.22% on Friday, reaching $16.55. 6,943,125 shares of the company’s stock traded hands. Teck Resources has a 52 week low of $11.04 and a 52 week high of $26.60. The firm’s 50 day moving average is $17.97 and its 200 day moving average is $21.15. The firm has a market capitalization of $9.56 billion, a P/E ratio of 8.42 and a beta of 1.22.
Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Tuesday, April 25th. The basic materials company reported $0.88 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.04 by $0.16. The business had revenue of $2.89 billion for 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 revenue was up 70.4% compared to the same quarter last year. Analysts expect that Teck Resources will post $3.22 earnings per share for the current fiscal year.
The company also recently disclosed a semiannual dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be issued a $0.0741 dividend. This is an increase from Teck Resources’s previous semiannual dividend of $0.04. This represents a dividend yield of 0.72%. The ex-dividend date is Tuesday, June 13th. Teck Resources’s dividend payout ratio is presently 7.69%.
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Teck Resources Company Profile
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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