Teck Resources Ltd (NYSE:TECK) Receives Consensus Recommendation of “Hold” from Analysts

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) has been given a consensus recommendation of “Hold” by the twenty-three research firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, thirteen have issued a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $55.7143.

Several equities research analysts have weighed in on the company. Raymond James Financial reaffirmed an “outperform” rating on shares of Teck Resources in a research report on Friday, October 10th. Weiss Ratings upgraded Teck Resources from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, October 24th. Scotiabank restated a “sector perform” rating on shares of Teck Resources in a research report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $46.00 target price on shares of Teck Resources in a report on Wednesday, November 26th. Finally, UBS Group raised shares of Teck Resources from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 3rd.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Union Bancaire Privee UBP SA raised its stake in Teck Resources by 4.3% during the 2nd quarter. Union Bancaire Privee UBP SA now owns 6,402 shares of the basic materials company’s stock worth $259,000 after acquiring an additional 264 shares in the last quarter. ASR Vermogensbeheer N.V. lifted its position in Teck Resources by 1.6% in the third quarter. ASR Vermogensbeheer N.V. now owns 16,721 shares of the basic materials company’s stock valued at $734,000 after purchasing an additional 270 shares during the period. Stephens Inc. AR grew its holdings in Teck Resources by 4.8% during the second quarter. Stephens Inc. AR now owns 7,189 shares of the basic materials company’s stock worth $290,000 after acquiring an additional 329 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of Teck Resources by 69.2% in the first quarter. Smartleaf Asset Management LLC now owns 856 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 350 shares during the period. Finally, CWM LLC increased its stake in Teck Resources by 22.7% in the 3rd quarter. CWM LLC now owns 2,078 shares of the basic materials company’s stock valued at $91,000 after purchasing an additional 384 shares in the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Teck Resources Price Performance

Shares of TECK stock opened at $44.73 on Friday. Teck Resources has a 1-year low of $28.32 and a 1-year high of $46.46. The stock’s 50-day moving average is $42.79 and its 200 day moving average is $39.32. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.78 and a quick ratio of 2.08. The company has a market cap of $21.50 billion, a P/E ratio of 25.13, a PEG ratio of 0.64 and a beta of 0.83.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Wednesday, October 22nd. The basic materials company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.16. Teck Resources had a return on equity of 4.14% and a net margin of 11.93%.The firm had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same period in the previous year, the business earned $0.60 EPS. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. Research analysts predict that Teck Resources will post 1.53 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.1%. This is a positive change from Teck Resources’s previous quarterly dividend of $0.09. The ex-dividend date is Monday, December 15th. Teck Resources’s payout ratio is presently 20.22%.

Teck Resources Company Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.