Teck Resources Limited (NYSE:TECK) Receives Consensus Rating of “Moderate Buy” from Analysts

Teck Resources Limited (NYSE:TECK) (TSE:TECK) has received a consensus rating of “Moderate Buy” from the eight brokerages that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $50.83.

A number of research firms have weighed in on TECK. Benchmark increased their price objective on Teck Resources from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Morgan Stanley increased their price objective on Teck Resources from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, June 21st. Finally, JPMorgan Chase & Co. increased their price objective on Teck Resources from $44.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th.

Teck Resources Trading Down 1.1 %

NYSE:TECK opened at $47.63 on Wednesday. The stock’s 50 day moving average price is $49.68 and its 200 day moving average price is $44.28. The company has a market capitalization of $24.33 billion, a PE ratio of 21.08, a P/E/G ratio of 10.68 and a beta of 1.08. The company has a quick ratio of 0.86, a current ratio of 1.49 and a debt-to-equity ratio of 0.20. Teck Resources has a 52-week low of $34.38 and a 52-week high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.31). The firm had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $2.99 billion. Teck Resources had a return on equity of 7.52% and a net margin of 10.59%. On average, research analysts anticipate that Teck Resources will post 2.18 EPS for the current year.

Teck Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be issued a $0.0911 dividend. The ex-dividend date is Monday, June 17th. This represents a $0.36 annualized dividend and a dividend yield of 0.77%. Teck Resources’s dividend payout ratio is currently 15.93%.

Institutional Trading of Teck Resources

Several hedge funds have recently modified their holdings of TECK. FIL Ltd raised its holdings in Teck Resources by 98.8% during the fourth quarter. FIL Ltd now owns 11,937,233 shares of the basic materials company’s stock worth $504,588,000 after purchasing an additional 5,933,226 shares during the last quarter. Norges Bank acquired a new position in Teck Resources during the fourth quarter worth $172,740,000. Asia Research & Capital Management Ltd acquired a new position in Teck Resources during the first quarter worth $158,976,000. Principal Financial Group Inc. raised its holdings in Teck Resources by 115.4% during the first quarter. Principal Financial Group Inc. now owns 5,687,670 shares of the basic materials company’s stock worth $260,584,000 after purchasing an additional 3,047,570 shares during the last quarter. Finally, Boston Partners raised its holdings in Teck Resources by 28.8% during the fourth quarter. Boston Partners now owns 10,881,781 shares of the basic materials company’s stock worth $484,995,000 after purchasing an additional 2,432,378 shares during the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

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.