Teck Resources (NYSE:TECK) Issues Earnings Results, Beats Expectations By $0.32 EPS

Teck Resources (NYSE:TECK) (TSE:TECK) announced its quarterly earnings results on Wednesday. The basic materials company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.32, Briefing.com reports. Teck Resources had a net margin of 9.40% and a return on equity of 6.61%. The business had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter in the prior year, the company posted $0.91 EPS. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year.

Teck Resources Stock Up 4.9 %

Shares of NYSE:TECK traded up $2.26 on Friday, hitting $47.96. 5,554,688 shares of the company traded hands, compared to its average volume of 3,631,192. The stock has a 50 day simple moving average of $49.20 and a 200-day simple moving average of $45.32. The company has a quick ratio of 0.86, a current ratio of 1.49 and a debt-to-equity ratio of 0.20. The company has a market cap of $24.50 billion, a PE ratio of 21.12, a PEG ratio of 10.40 and a beta of 1.05. Teck Resources has a 52 week low of $34.38 and a 52 week high of $55.13.

Teck Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 5.21%. This is an increase from Teck Resources’s previous quarterly dividend of $0.09. The ex-dividend date is Friday, September 13th. Teck Resources’s payout ratio is 16.37%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Morgan Stanley boosted their price target on Teck Resources from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, June 21st. BMO Capital Markets initiated coverage on shares of Teck Resources in a research report on Monday, July 15th. They issued an “outperform” rating for the company. JPMorgan Chase & Co. reduced their price target on shares of Teck Resources from $56.00 to $54.00 and set an “overweight” rating on the stock in a research report on Thursday. CIBC raised their price objective on shares of Teck Resources from $70.00 to $80.00 and gave the stock an “outperformer” rating in a report on Friday, July 12th. Finally, Benchmark reiterated a “buy” rating and set a $55.00 target price on shares of Teck Resources in a report on Thursday. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Teck Resources has a consensus rating of “Moderate Buy” and a consensus target price of $63.50.

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.