Teck Resources Limited (NYSE:TECK) Receives $65.00 Consensus Price Target from Analysts

Teck Resources Limited (NYSE:TECK) (TSE:TECK) has been given an average recommendation of “Moderate Buy” by the ten ratings firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $65.00.

TECK has been the subject of several recent analyst reports. CIBC boosted their price target 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. BMO Capital Markets initiated coverage on shares of Teck Resources in a report on Monday, July 15th. They issued an “outperform” rating for the company. StockNews.com lowered shares of Teck Resources from a “hold” rating to a “sell” rating in a report on Wednesday, September 25th. Benchmark reissued a “buy” rating and issued a $55.00 price target on shares of Teck Resources in a report on Thursday, July 25th. Finally, Morgan Stanley boosted their price target on shares of Teck Resources from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, June 21st.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Hexagon Capital Partners LLC boosted its position in shares of Teck Resources by 143.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 386 shares during the last quarter. Headlands Technologies LLC acquired a new position in Teck Resources in the second quarter valued at about $38,000. Creekmur Asset Management LLC acquired a new position in Teck Resources in the fourth quarter valued at about $35,000. Optiver Holding B.V. lifted its position in Teck Resources by 81.9% in the fourth quarter. Optiver Holding B.V. now owns 973 shares of the basic materials company’s stock valued at $41,000 after buying an additional 438 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its position in Teck Resources by 69.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock valued at $52,000 after buying an additional 409 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Price Performance

NYSE:TECK opened at $51.34 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 0.77. The firm has a market cap of $26.23 billion, a price-to-earnings ratio of 22.72 and a beta of 1.02. The company has a 50 day moving average price of $47.67 and a 200-day moving average price of $48.22. Teck Resources has a 1-year low of $34.38 and a 1-year high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its earnings results on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.32. The firm had revenue of $3.87 billion during the quarter, compared to analyst estimates of $2.67 billion. Teck Resources had a net margin of 9.40% and a return on equity of 6.52%. The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 EPS. Equities research analysts forecast that Teck Resources will post 1.98 EPS for the current year.

Teck Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.625 per share. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. The ex-dividend date was Friday, September 13th. This represents a $2.50 annualized dividend and a dividend yield of 4.87%. Teck Resources’s payout ratio is presently 16.37%.

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.