Equities analysts expect that Teck Resources Ltd (NYSE:TECK) (TSE:TECK) will report earnings per share of $0.35 for the current quarter, Zacks reports. Fifteen analysts have made estimates for Teck Resources’ earnings. The highest EPS estimate is $0.50 and the lowest is $0.23. Teck Resources posted earnings of $0.65 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 46.2%. The firm is expected to report its next quarterly earnings results before the market opens on Friday, February 21st.
According to Zacks, analysts expect that Teck Resources will report full year earnings of $2.28 per share for the current financial year, with EPS estimates ranging from $2.12 to $2.42. For the next year, analysts anticipate that the firm will report earnings of $2.01 per share, with EPS estimates ranging from $1.28 to $2.72. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that cover Teck Resources.
TECK has been the topic of a number of recent research reports. Citigroup upgraded shares of Teck Resources from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Monday, December 16th. BMO Capital Markets downgraded shares of Teck Resources from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 27th. B. Riley initiated coverage on shares of Teck Resources in a research note on Thursday, January 9th. They set a “buy” rating and a $35.00 price target on the stock. Zacks Investment Research downgraded shares of Teck Resources from a “hold” rating to a “strong sell” rating and set a $15.00 price target on the stock. in a research note on Friday, January 3rd. Finally, Bank of America downgraded shares of Teck Resources from a “buy” rating to an “underperform” rating in a research note on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $30.00.
TECK opened at $14.01 on Friday. Teck Resources has a fifty-two week low of $12.72 and a fifty-two week high of $25.75. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.08 and a quick ratio of 1.28. The firm’s fifty day moving average price is $15.27 and its two-hundred day moving average price is $16.44. The company has a market capitalization of $7.45 billion, a P/E ratio of 6.37 and a beta of 1.48.
Several hedge funds and other institutional investors have recently modified their holdings of the business. Advisory Services Network LLC raised its holdings in shares of Teck Resources by 47.6% in the fourth quarter. Advisory Services Network LLC now owns 2,501 shares of the basic materials company’s stock valued at $43,000 after buying an additional 806 shares during the last quarter. Aigen Investment Management LP acquired a new stake in Teck Resources in the fourth quarter worth about $56,000. Winslow Evans & Crocker Inc. increased its position in Teck Resources by 12.8% in the third quarter. Winslow Evans & Crocker Inc. now owns 6,672 shares of the basic materials company’s stock worth $110,000 after purchasing an additional 756 shares during the period. Bessemer Group Inc. grew its position in shares of Teck Resources by 60,907.1% during the 4th quarter. Bessemer Group Inc. now owns 8,541 shares of the basic materials company’s stock worth $148,000 after buying an additional 8,527 shares during the period. Finally, Stevens Capital Management LP acquired a new position in shares of Teck Resources during the 4th quarter worth about $181,000. 53.64% of the stock is owned by institutional investors.
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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