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

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) has received an average recommendation of “Hold” from the nineteen analysts that are covering the stock, MarketBeat Ratings reports. Fourteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $59.1667.

Several equities research analysts have weighed in on TECK shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Teck Resources in a report on Friday, May 15th. Scotiabank reiterated a “sector perform” rating on shares of Teck Resources in a report on Tuesday, April 14th. Weiss Ratings upgraded Teck Resources from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, April 24th. TD Securities reiterated a “hold” rating on shares of Teck Resources in a report on Friday, April 24th. Finally, JPMorgan Chase & Co. increased their price objective on Teck Resources from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, May 1st.

Teck Resources Stock Up 1.9%

NYSE TECK opened at $64.80 on Friday. Teck Resources has a 1 year low of $30.98 and a 1 year high of $71.25. The stock has a market capitalization of $31.24 billion, a PE ratio of 23.74, a PEG ratio of 3.93 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.83 and a quick ratio of 2.16. The business’s 50-day moving average is $60.94 and its 200 day moving average is $54.35.

Teck Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a $0.125 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.50 annualized dividend and a yield of 0.8%. Teck Resources’s dividend payout ratio (DPR) is 13.55%.

Institutional Investors Weigh In On Teck Resources

Several institutional investors and hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. lifted its holdings in Teck Resources by 17.1% in the 1st quarter. Principal Financial Group Inc. now owns 22,044,284 shares of the basic materials company’s stock worth $1,139,051,000 after buying an additional 3,211,985 shares during the period. Vanguard Group Inc. boosted its position in Teck Resources by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 20,185,694 shares of the basic materials company’s stock valued at $966,370,000 after acquiring an additional 278,481 shares in the last quarter. Davis Selected Advisers boosted its position in Teck Resources by 9.0% during the 4th quarter. Davis Selected Advisers now owns 12,019,609 shares of the basic materials company’s stock valued at $575,620,000 after acquiring an additional 995,947 shares in the last quarter. Hancock Prospecting Pty Ltd boosted its position in Teck Resources by 31.7% during the 4th quarter. Hancock Prospecting Pty Ltd now owns 10,298,293 shares of the basic materials company’s stock valued at $493,185,000 after acquiring an additional 2,477,344 shares in the last quarter. Finally, Norges Bank bought a new stake in Teck Resources during the 4th quarter valued at approximately $404,880,000. Hedge funds and other 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.