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

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) has been assigned an average rating of “Hold” from the twenty research firms that are covering the stock, MarketBeat.com reports. Twelve analysts have rated the stock with 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 objective among analysts that have issued ratings on the stock in the last year is $58.00.

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on Teck Resources from $43.00 to $51.00 and gave the company a “neutral” rating in a report on Friday, December 5th. Scotiabank restated a “sector perform” rating on shares of Teck Resources in a report on Tuesday, February 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Teck Resources in a research report on Wednesday, January 21st. 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, TD Securities restated a “hold” rating on shares of Teck Resources in a research note on Monday, February 23rd.

Teck Resources Trading Down 3.7%

TECK stock opened at $53.42 on Friday. Teck Resources has a 12 month low of $28.32 and a 12 month high of $62.41. The firm’s 50-day moving average is $54.39 and its 200 day moving average is $45.62. The company has a market capitalization of $25.72 billion, a PE ratio of 26.45, a P/E/G ratio of 3.38 and a beta of 0.77. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.54 and a quick ratio of 1.91.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Thursday, February 19th. The basic materials company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.39. The company had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Teck Resources had a net margin of 12.98% and a return on equity of 5.90%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.45 EPS. On average, research analysts anticipate that Teck Resources will post 1.53 EPS for the current year.

Teck Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, March 13th. Teck Resources’s dividend payout ratio is presently 17.82%.

Institutional Investors Weigh In On Teck Resources

Several large investors have recently modified their holdings of the business. AQR Capital Management LLC increased its holdings in Teck Resources by 11.1% during the first quarter. AQR Capital Management LLC now owns 34,705 shares of the basic materials company’s stock valued at $1,264,000 after buying an additional 3,458 shares during the period. Jones Financial Companies Lllp lifted its holdings in Teck Resources by 453.0% during the first quarter. Jones Financial Companies Lllp now owns 9,721 shares of the basic materials company’s stock worth $354,000 after buying an additional 7,963 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Teck Resources by 1.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 465,861 shares of the basic materials company’s stock valued at $16,971,000 after acquiring an additional 8,146 shares in the last quarter. Assetmark Inc. boosted its position in Teck Resources by 2.1% during the 2nd quarter. Assetmark Inc. now owns 20,360 shares of the basic materials company’s stock valued at $822,000 after acquiring an additional 415 shares in the last quarter. Finally, Atria Investments Inc increased its holdings in shares of Teck Resources by 27.1% in the 2nd quarter. Atria Investments Inc now owns 33,303 shares of the basic materials company’s stock valued at $1,345,000 after acquiring an additional 7,095 shares during the period. Institutional investors own 78.06% of the company’s stock.

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.