Teck Resources Ltd (TECK) Given Average Rating of “Buy” by Analysts
Teck Resources Ltd (NYSE:TECK) (TSE:TECK) has received an average rating of “Buy” from the twenty-seven brokerages that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and twenty-one have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $28.18.
TECK has been the topic of a number of research reports. J P Morgan Chase & Co raised Teck Resources from a “neutral” rating to an “overweight” rating in a report on Tuesday, May 30th. Bank of America Corporation raised Teck Resources from a “neutral” rating to a “buy” rating in a report on Friday, June 30th. Royal Bank Of Canada reissued an “outperform” rating and set a $38.00 price objective (down from $39.00) on shares of Teck Resources in a report on Friday, June 16th. Deutsche Bank AG restated a “buy” rating and set a $23.00 price target (down from $24.00) on shares of Teck Resources in a research report on Sunday, June 25th. Finally, Credit Suisse Group restated an “outperform” rating on shares of Teck Resources in a research report on Tuesday, April 18th.
Several large investors have recently added to or reduced their stakes in the stock. US Bancorp DE purchased a new stake in Teck Resources during the second quarter valued at $320,000. Exane Asset Management purchased a new stake in Teck Resources during the second quarter valued at $877,000. Aperio Group LLC purchased a new stake in Teck Resources during the second quarter valued at $8,772,000. Foundation Resource Management Inc. purchased a new stake in Teck Resources during the second quarter valued at $27,915,000. Finally, Regent Investment Management LLC purchased a new stake in Teck Resources during the second quarter valued at $430,000. Institutional investors own 45.52% of the company’s stock.
Teck Resources (NYSE:TECK) traded up 0.67% during mid-day trading on Friday, hitting $19.40. The stock had a trading volume of 998,983 shares. Teck Resources has a 52 week low of $13.01 and a 52 week high of $26.60. The company’s 50 day moving average price is $17.54 and its 200 day moving average price is $20.54. The firm has a market cap of $11.21 billion, a PE ratio of 9.71 and a beta of 1.22.
Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Tuesday, April 25th. The basic materials company reported $0.88 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.04 by $0.16. The firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $3.05 billion. Teck Resources had a net margin of 14.37% and a return on equity of 10.02%. Teck Resources’s revenue for the quarter was up 70.4% on a year-over-year basis. Analysts anticipate that Teck Resources will post $3.10 earnings per share for the current year.
The company also recently declared a semiannual dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 15th were given a dividend of $0.0741 per share. The ex-dividend date of this dividend was Tuesday, June 13th. This is a positive change from Teck Resources’s previous semiannual dividend of $0.04. This represents a dividend yield of 0.72%. Teck Resources’s payout ratio is currently 7.69%.
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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