Teck Resources Ltd (TECK) Receives Consensus Rating of “Buy” from Brokerages
Shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) have been given a consensus recommendation of “Buy” by the twenty-six ratings firms that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and twenty-three have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $32.44.
TECK has been the topic of a number of research analyst reports. Bank of America Corporation cut Teck Resources from a “buy” rating to a “neutral” rating and cut their price target for the stock from $27.00 to $19.00 in a report on Friday, June 9th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $38.00 price objective (down previously from $39.00) on shares of Teck Resources in a research note on Friday, June 16th. Deutsche Bank AG reiterated a “buy” rating and issued a $23.00 price objective (down previously from $24.00) on shares of Teck Resources in a research note on Sunday, June 25th. Zacks Investment Research downgraded shares of Teck Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Finally, Raymond James Financial, Inc. reiterated an “outperform” rating on shares of Teck Resources in a research report on Tuesday, August 15th.
Shares of Teck Resources (NYSE:TECK) traded down 0.13% on Wednesday, reaching $22.40. 680,124 shares of the company’s stock were exchanged. Teck Resources has a 52-week low of $14.56 and a 52-week high of $26.60. The company’s 50 day moving average price is $23.00 and its 200-day moving average price is $20.55. The stock has a market cap of $12.94 billion, a P/E ratio of 7.70 and a beta of 1.20.
Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Thursday, July 27th. The basic materials company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.71 by $0.02. The business had revenue of $2.82 billion during the quarter, compared to analysts’ expectations of $2.75 billion. Teck Resources had a return on equity of 13.01% and a net margin of 17.93%. The business’s quarterly revenue was up 62.0% compared to the same quarter last year. Equities analysts forecast that Teck Resources will post $3.55 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were issued a dividend of $0.0399 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend was Thursday, September 14th. Teck Resources’s dividend payout ratio is 3.01%.
Hedge funds have recently made changes to their positions in the company. Capital Analysts LLC bought a new position in shares of Teck Resources during the second quarter valued at about $100,000. Winslow Evans & Crocker Inc. purchased a new position in Teck Resources during the second quarter worth about $108,000. Financial Architects Inc purchased a new position in Teck Resources during the second quarter worth about $123,000. PNC Financial Services Group Inc. purchased a new position in Teck Resources during the second quarter worth about $124,000. Finally, Tower Research Capital LLC TRC bought a new stake in Teck Resources in the 2nd quarter worth about $164,000. Institutional investors own 46.80% of the company’s stock.
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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