B. Riley Issues Negative Outlook for Teck Resources Earnings

Teck Resources Limited (NYSE:TECK) (TSE:TECK) – Investment analysts at B. Riley cut their Q4 2024 earnings per share (EPS) estimates for Teck Resources in a research note issued on Tuesday, January 28th. B. Riley analyst N. Giles now expects that the basic materials company will earn $0.23 per share for the quarter, down from their previous forecast of $0.26. The consensus estimate for Teck Resources’ current full-year earnings is $1.69 per share. B. Riley also issued estimates for Teck Resources’ FY2025 earnings at $1.53 EPS and FY2026 earnings at $1.39 EPS.

Several other equities analysts have also recently issued reports on TECK. Scotiabank lifted their price objective on shares of Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, October 8th. National Bank Financial cut Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft lowered Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a research note on Friday, October 25th. Citigroup upgraded Teck Resources to a “hold” rating in a report on Wednesday, October 2nd. Finally, UBS Group downgraded Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Teck Resources presently has a consensus rating of “Moderate Buy” and an average target price of $65.38.

Teck Resources Price Performance

Shares of Teck Resources stock opened at $40.82 on Wednesday. Teck Resources has a 52 week low of $36.50 and a 52 week high of $55.13. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The stock has a market cap of $20.36 billion, a PE ratio of 61.84 and a beta of 1.05. The company’s 50-day moving average price is $43.28 and its two-hundred day moving average price is $46.28.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were paid a dividend of $0.0895 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend was Friday, December 13th. Teck Resources’s dividend payout ratio (DPR) is currently 53.03%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Daymark Wealth Partners LLC lifted its holdings in shares of Teck Resources by 2.8% during the 3rd quarter. Daymark Wealth Partners LLC now owns 8,774 shares of the basic materials company’s stock valued at $458,000 after buying an additional 242 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in Teck Resources by 7.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 4,897 shares of the basic materials company’s stock valued at $198,000 after acquiring an additional 327 shares during the last quarter. OLD National Bancorp IN grew its position in Teck Resources by 7.4% in the fourth quarter. OLD National Bancorp IN now owns 4,955 shares of the basic materials company’s stock worth $201,000 after acquiring an additional 341 shares in the last quarter. Bruce G. Allen Investments LLC grew its position in Teck Resources by 77.4% in the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock worth $46,000 after acquiring an additional 383 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its stake in shares of Teck Resources by 69.7% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 409 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

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.