Teck Resources (NYSE:TECK) Announces Earnings Results, Beats Estimates By $0.07 EPS

Teck Resources (NYSE:TECK) (TSE:TECK) issued its quarterly earnings data on Thursday. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07, Zacks reports. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%.

Teck Resources Stock Performance

Shares of NYSE TECK traded up $0.98 during mid-day trading on Thursday, reaching $43.68. 1,272,430 shares of the company were exchanged, compared to its average volume of 2,798,544. The company’s 50-day simple moving average is $42.05 and its 200-day simple moving average is $45.75. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $21.78 billion, a P/E ratio of 66.15 and a beta of 1.02. Teck Resources has a twelve month low of $37.30 and a twelve month high of $55.13.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on TECK shares. UBS Group cut shares of Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. JPMorgan Chase & Co. cut their price target on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Raymond James cut their price target on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, January 22nd. 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 note on Friday, October 25th. Finally, StockNews.com upgraded shares of Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $65.38.

About Teck Resources

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.