Teck Resources Ltd (NYSE:TECK) Given Average Rating of “Moderate Buy” by Brokerages

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) has been assigned an average rating of “Moderate Buy” from the twenty analysts that are presently covering the company, MarketBeat.com reports. Twelve investment analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $57.00.

Several analysts have weighed in on TECK shares. Weiss Ratings reissued a “hold (c)” rating on shares of Teck Resources in a research report on Wednesday, January 21st. Zacks Research raised shares of Teck Resources from a “hold” rating to a “strong-buy” rating in a report on Monday, March 23rd. UBS Group reiterated a “buy” rating on shares of Teck Resources in a research note on Tuesday, January 27th. Scotiabank reissued a “sector perform” rating on shares of Teck Resources in a report on Tuesday, February 24th. Finally, National Bank Financial downgraded Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 5th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. increased its holdings in Teck Resources by 36.1% in the 3rd quarter. Principal Financial Group Inc. now owns 16,879,229 shares of the basic materials company’s stock worth $740,604,000 after buying an additional 4,474,637 shares during the period. Alps Advisors Inc. lifted its stake in Teck Resources by 37.3% during the 3rd quarter. Alps Advisors Inc. now owns 166,334 shares of the basic materials company’s stock valued at $7,300,000 after acquiring an additional 45,194 shares during the period. Regal Partners Ltd lifted its stake in Teck Resources by 14.8% during the 3rd quarter. Regal Partners Ltd now owns 3,481,836 shares of the basic materials company’s stock valued at $152,818,000 after acquiring an additional 448,081 shares during the period. Invesco Ltd. boosted its holdings in shares of Teck Resources by 10.8% in the 2nd quarter. Invesco Ltd. now owns 5,565,955 shares of the basic materials company’s stock valued at $224,753,000 after acquiring an additional 543,554 shares during the last quarter. Finally, 44 Wealth Management LLC boosted its holdings in shares of Teck Resources by 250.8% in the 3rd quarter. 44 Wealth Management LLC now owns 31,077 shares of the basic materials company’s stock valued at $1,364,000 after acquiring an additional 22,219 shares during the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Teck Resources Price Performance

Shares of NYSE TECK opened at $48.28 on Tuesday. Teck Resources has a fifty-two week low of $28.32 and a fifty-two week high of $62.41. The company has a market cap of $23.24 billion, a PE ratio of 23.90, a P/E/G ratio of 3.01 and a beta of 0.77. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.54. The business has a 50-day simple moving average of $54.38 and a two-hundred day simple moving average of $47.60.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted 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 firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.28 billion. Teck Resources had a net margin of 12.98% and a return on equity of 5.90%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.45 earnings per share. As a group, equities analysts expect that Teck Resources will post 1.53 EPS for the current fiscal year.

Teck Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, March 13th. Teck Resources’s payout ratio is presently 18.32%.

About Teck Resources

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.