Teck Resources Ltd (NYSE:TECK) Given Consensus Rating of “Hold” by Analysts

Shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) have received an average rating of “Hold” from the twenty-three research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $55.7143.

Several research analysts have recently commented on TECK shares. Citigroup reaffirmed a “neutral” rating on shares of Teck Resources in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $46.00 target price on shares of Teck Resources in a research note on Wednesday, November 26th. Benchmark reiterated a “buy” rating on shares of Teck Resources in a research report on Thursday, October 23rd. Veritas cut shares of Teck Resources from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Finally, Canaccord Genuity Group cut shares of Teck Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, October 8th.

Teck Resources Trading Up 4.7%

Shares of Teck Resources stock opened at $52.13 on Thursday. Teck Resources has a 1-year low of $28.32 and a 1-year high of $52.34. The company’s fifty day simple moving average is $44.79 and its 200-day simple moving average is $40.56. 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 stock has a market capitalization of $25.05 billion, a PE ratio of 29.28, a P/E/G ratio of 0.54 and a beta of 0.79.

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

Teck Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were issued a $0.125 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.50 dividend on an annualized basis and a yield of 1.0%. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s payout ratio is presently 20.22%.

Institutional Investors Weigh In On Teck Resources

Institutional investors have recently added to or reduced their stakes in the stock. Chesley Taft & Associates LLC purchased a new position in shares of Teck Resources in the fourth quarter worth $229,000. Wealth Enhancement Advisory Services LLC increased its holdings in Teck Resources by 25.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,272 shares of the basic materials company’s stock valued at $322,000 after acquiring an additional 1,266 shares during the last quarter. Leibman Financial Services Inc. lifted its stake in Teck Resources by 6.1% in the 4th quarter. Leibman Financial Services Inc. now owns 99,097 shares of the basic materials company’s stock worth $4,746,000 after purchasing an additional 5,690 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in shares of Teck Resources by 44.9% during the 4th quarter. Park Avenue Securities LLC now owns 23,261 shares of the basic materials company’s stock valued at $1,114,000 after purchasing an additional 7,203 shares during the last quarter. Finally, Union Bancaire Privee UBP SA grew its position in shares of Teck Resources by 172.8% during the fourth quarter. Union Bancaire Privee UBP SA now owns 23,560 shares of the basic materials company’s stock valued at $1,128,000 after purchasing an additional 14,924 shares in the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

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.