Teck Resources Ltd (NYSE:TECK) (TSE:TECK) – Equities researchers at National Bank Financial raised their Q2 2019 earnings per share (EPS) estimates for shares of Teck Resources in a research report issued on Tuesday, June 11th. National Bank Financial analyst S. Nagle now expects that the basic materials company will post earnings of $0.75 per share for the quarter, up from their prior forecast of $0.70. National Bank Financial also issued estimates for Teck Resources’ Q3 2019 earnings at $0.74 EPS, Q4 2019 earnings at $0.72 EPS, FY2019 earnings at $2.96 EPS, FY2020 earnings at $3.08 EPS and FY2021 earnings at $2.45 EPS.
A number of other equities research analysts have also recently commented on TECK. ValuEngine upgraded Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, March 21st. Bank of America set a $30.00 target price on Teck Resources and gave the stock a “buy” rating in a research note on Thursday, April 4th. MKM Partners set a $26.00 target price on Teck Resources and gave the stock a “buy” rating in a research note on Thursday, April 4th. Raymond James reiterated a “buy” rating on shares of Teck Resources in a research note on Thursday, April 4th. Finally, Barclays cut Teck Resources to a “positive” rating in a research note on Tuesday, April 9th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $29.29.
NYSE TECK opened at $21.81 on Friday. The firm has a market cap of $12.29 billion, a PE ratio of 7.68 and a beta of 1.34. Teck Resources has a one year low of $18.17 and a one year high of $29.23. The company has a current ratio of 2.95, a quick ratio of 2.06 and a debt-to-equity ratio of 0.23.
Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Tuesday, April 23rd. The basic materials company reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.01. The company had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Teck Resources had a return on equity of 9.59% and a net margin of 23.71%. During the same period in the previous year, the business posted $1.31 EPS.
A number of institutional investors have recently made changes to their positions in TECK. Norges Bank bought a new stake in Teck Resources in the 4th quarter valued at about $285,156,000. Hexavest Inc. bought a new stake in Teck Resources in the 1st quarter valued at about $66,603,000. BlackRock Inc. raised its stake in Teck Resources by 46.0% in the 4th quarter. BlackRock Inc. now owns 6,240,453 shares of the basic materials company’s stock valued at $134,420,000 after acquiring an additional 1,967,067 shares during the period. CIBC Asset Management Inc raised its stake in Teck Resources by 26.7% in the 4th quarter. CIBC Asset Management Inc now owns 8,553,875 shares of the basic materials company’s stock valued at $184,199,000 after acquiring an additional 1,801,837 shares during the period. Finally, AQR Capital Management LLC raised its stake in Teck Resources by 821.2% in the 1st quarter. AQR Capital Management LLC now owns 1,758,552 shares of the basic materials company’s stock valued at $40,694,000 after acquiring an additional 1,567,661 shares during the period. Institutional investors and hedge funds own 55.01% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.037 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Thursday, June 13th. Teck Resources’s dividend payout ratio is currently 4.78%.
About Teck Resources
Teck Resources Limited researches, explores for, develops, and produces natural resources in the Asia Pacific, the Americas, and Europe. It operates through five segments: Steelmaking, Coal, Copper, Zinc, Energy, and Corporate. The company's principal products include steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.
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