Brokers Set Expectations for Teck Resources Ltd’s FY2018 Earnings (TECK)

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) – B. Riley raised their FY2018 EPS estimates for Teck Resources in a report issued on Thursday. B. Riley analyst L. Pipes now anticipates that the basic materials company will post earnings per share of $2.18 for the year, up from their prior forecast of $1.63. B. Riley has a “Buy” rating on the stock.

Several other analysts have also commented on TECK. Raymond James Financial reiterated an “outperform” rating on shares of Teck Resources in a research report on Tuesday, August 15th. MKM Partners reissued a “buy” rating and set a $28.00 price objective (up previously from $25.00) on shares of Teck Resources in a research note on Thursday, August 24th. ValuEngine downgraded shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 6th. BidaskClub downgraded shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 15th. Finally, Axiom Securities assumed coverage on shares of Teck Resources in a research note on Monday, September 18th. They set a “sell” rating and a $16.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $30.65.

Shares of Teck Resources (TECK) opened at $23.31 on Monday. The company has a market cap of $13,298.35, a P/E ratio of 6.33, a PEG ratio of 0.85 and a beta of 1.30. Teck Resources has a 1 year low of $14.56 and a 1 year high of $33.76. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.17 and a quick ratio of 1.42.

A number of large investors have recently bought and sold shares of TECK. US Bancorp DE purchased a new position in Teck Resources during the second quarter worth approximately $320,000. Shell Asset Management Co. purchased a new position in Teck Resources during the second quarter worth approximately $1,247,000. Candriam Luxembourg S.C.A. purchased a new position in Teck Resources during the second quarter worth approximately $188,000. Korea Investment CORP purchased a new position in Teck Resources during the second quarter worth approximately $16,441,000. Finally, IFP Advisors Inc purchased a new position in Teck Resources during the second quarter worth approximately $372,000. 54.26% of the stock is currently owned by institutional investors.

The company also recently disclosed a special dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a dividend of $0.3141 per share. This represents a dividend yield of 0.72%. The ex-dividend date of this dividend is Thursday, December 14th. Teck Resources’s payout ratio is 2.53%.

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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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