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

Shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) have received a consensus rating of “Hold” from the eighteen research firms that are presently covering the firm, MarketBeat Ratings reports. Thirteen investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $60.1667.

Several analysts have weighed in on the company. JPMorgan Chase & Co. boosted 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. TD Securities reaffirmed a “hold” rating on shares of Teck Resources in a research note on Friday, April 24th. Scotiabank restated a “sector perform” rating on shares of Teck Resources in a report on Monday, June 15th. Zacks Research cut shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Finally, Wall Street Zen raised shares of Teck Resources to a “buy” rating in a report on Saturday, May 16th.

Institutional Investors Weigh In On Teck Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Welch Group LLC lifted its stake in Teck Resources by 3.5% in the fourth quarter. Welch Group LLC now owns 5,899 shares of the basic materials company’s stock valued at $283,000 after buying an additional 199 shares during the period. Geneos Wealth Management Inc. grew its position in shares of Teck Resources by 117.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 561 shares of the basic materials company’s stock worth $29,000 after buying an additional 303 shares during the period. Compound Planning Inc. raised its position in shares of Teck Resources by 1.0% in the 4th quarter. Compound Planning Inc. now owns 32,266 shares of the basic materials company’s stock valued at $1,545,000 after acquiring an additional 333 shares during the period. 44 Wealth Management LLC boosted its stake in Teck Resources by 1.3% during the 4th quarter. 44 Wealth Management LLC now owns 31,488 shares of the basic materials company’s stock worth $1,508,000 after acquiring an additional 411 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its position in shares of Teck Resources by 5.5% during the third quarter. NewEdge Advisors LLC now owns 8,635 shares of the basic materials company’s stock worth $379,000 after purchasing an additional 452 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

Teck Resources Trading Down 3.7%

Shares of TECK opened at $56.23 on Thursday. The company has a quick ratio of 2.16, a current ratio of 2.83 and a debt-to-equity ratio of 0.13. Teck Resources has a 12-month low of $30.98 and a 12-month high of $71.25. The firm has a market capitalization of $27.15 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 3.44 and a beta of 0.92. The stock’s fifty day simple moving average is $62.41 and its 200-day simple moving average is $56.63.

Teck Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Monday, June 15th. Teck Resources’s dividend payout ratio (DPR) is currently 13.19%.

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.