Teck Resources (NYSE:TECK) Shares Up 5.7%

Shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) shot up 5.7% on Wednesday . The company traded as high as $15.96 and last traded at $15.83, 4,738,700 shares traded hands during trading. An increase of 71% from the average session volume of 2,777,452 shares. The stock had previously closed at $14.97.

A number of research firms recently weighed in on TECK. Clarkson Capital reaffirmed a “neutral” rating on shares of Teck Resources in a report on Monday, September 23rd. Bank of America cut Teck Resources from a “buy” rating to an “underperform” rating in a report on Wednesday, November 13th. ValuEngine cut Teck Resources from a “hold” rating to a “sell” rating in a report on Friday, November 1st. BMO Capital Markets cut Teck Resources from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 27th. Finally, Barclays set a $33.00 price target on Teck Resources and gave the company a “buy” rating in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. Teck Resources has a consensus rating of “Hold” and an average target price of $32.22.

The stock has a market capitalization of $8.50 billion, a P/E ratio of 5.04 and a beta of 1.45. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.28 and a current ratio of 2.08. The stock has a 50-day simple moving average of $16.25 and a 200 day simple moving average of $18.54.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.11. The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.31 billion. Teck Resources had a return on equity of 8.07% and a net margin of 13.28%. During the same period last year, the company earned $0.80 EPS. Equities analysts predict that Teck Resources Ltd will post 2.31 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a $0.038 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 0.96%. This is a positive change from Teck Resources’s previous quarterly dividend of $0.04. The ex-dividend date is Thursday, December 12th. Teck Resources’s dividend payout ratio (DPR) is presently 4.78%.

Institutional investors and hedge funds have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC bought a new position in Teck Resources in the 2nd quarter valued at $32,000. Kempen Capital Management N.V. bought a new position in shares of Teck Resources in the 2nd quarter worth $53,000. CWM LLC bought a new position in shares of Teck Resources in the 2nd quarter worth $66,000. Winslow Evans & Crocker Inc. boosted its position in shares of Teck Resources by 12.8% in the 3rd quarter. Winslow Evans & Crocker Inc. now owns 6,672 shares of the basic materials company’s stock worth $110,000 after purchasing an additional 756 shares during the last quarter. Finally, Glen Harbor Capital Management LLC boosted its position in shares of Teck Resources by 18.0% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 5,192 shares of the basic materials company’s stock worth $115,000 after purchasing an additional 792 shares during the last quarter. Hedge funds and other institutional investors own 52.95% of the company’s stock.

Teck Resources Company Profile (NYSE:TECK)

Teck Resources Limited researches, explores for, develops, and produces natural resources in the Asia Pacific, the Americas, and Europe. It operates through five segments: Steelmaking, Coal, Copper, Zinc, Energy, and Corporate. The company's principal products include steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.

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