Teck Resources Limited (NYSE:TECK) Receives $65.29 Average Target Price from Analysts

Teck Resources Limited (NYSE:TECK) (TSE:TECK) has earned a consensus rating of “Moderate Buy” from the ten analysts that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $65.29.

TECK has been the topic of a number of research reports. Benchmark restated a “buy” rating and issued a $55.00 price objective on shares of Teck Resources in a report on Thursday, July 25th. JPMorgan Chase & Co. cut their price target on shares of Teck Resources from $57.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. StockNews.com raised shares of Teck Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Citigroup upgraded shares of Teck Resources to a “hold” rating in a report on Wednesday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft cut shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a research report on Friday, October 25th.

Teck Resources Stock Performance

Shares of TECK stock opened at $46.27 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. The firm has a market capitalization of $23.28 billion, a price-to-earnings ratio of 69.96 and a beta of 1.04. Teck Resources has a one year low of $35.25 and a one year high of $55.13. The company has a 50 day moving average price of $48.73 and a 200 day moving average price of $48.66.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.24. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.09 billion. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The business’s revenue for the quarter was down 20.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.57 EPS. Sell-side analysts anticipate that Teck Resources will post 1.84 EPS for the current year.

Teck Resources Cuts Dividend

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 issued a $0.0895 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.77%. Teck Resources’s dividend payout ratio is currently 56.06%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TECK. Daymark Wealth Partners LLC raised its position in shares of Teck Resources by 2.8% in the 3rd quarter. Daymark Wealth Partners LLC now owns 8,774 shares of the basic materials company’s stock valued at $458,000 after purchasing an additional 242 shares in the last quarter. Cigna Investments Inc. New increased its stake in shares of Teck Resources by 3.8% in the second quarter. Cigna Investments Inc. New now owns 8,762 shares of the basic materials company’s stock worth $420,000 after buying an additional 317 shares during the last quarter. Candriam S.C.A. raised its holdings in Teck Resources by 4.0% in the second quarter. Candriam S.C.A. now owns 8,897 shares of the basic materials company’s stock valued at $426,000 after acquiring an additional 343 shares in the last quarter. Evergreen Capital Management LLC raised its holdings in Teck Resources by 7.8% in the second quarter. Evergreen Capital Management LLC now owns 5,064 shares of the basic materials company’s stock valued at $243,000 after acquiring an additional 365 shares in the last quarter. Finally, Bruce G. Allen Investments LLC boosted its stake in Teck Resources by 77.4% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 383 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Company Profile

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.