Teck Resources Limited (NYSE:TECK) Receives $65.22 Average PT from Analysts

Shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) have received an average recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $65.22.

TECK has been the topic of a number of analyst reports. Raymond James lowered their price objective on Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, January 22nd. JPMorgan Chase & Co. lowered their price target on Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Bank of America boosted their price objective on shares of Teck Resources from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Finally, National Bank Financial lowered shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th.

Teck Resources Price Performance

NYSE TECK opened at $42.75 on Friday. The company has a 50 day moving average price of $41.79 and a two-hundred day moving average price of $44.76. Teck Resources has a 12-month low of $36.54 and a 12-month high of $55.13. The stock has a market capitalization of $21.52 billion, a PE ratio of 77.73 and a beta of 0.93. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2.58 billion. As a group, equities analysts predict that Teck Resources will post 1.53 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.0879 dividend. This represents a $0.35 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend is Friday, March 14th. Teck Resources’s dividend payout ratio is 61.82%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TECK. Stonebridge Financial Group LLC acquired a new position in shares of Teck Resources in the 4th quarter worth approximately $25,000. FPC Investment Advisory Inc. acquired a new stake in shares of Teck Resources in the 4th quarter valued at $27,000. Global Trust Asset Management LLC bought a new stake in shares of Teck Resources in the 4th quarter worth about $27,000. Wilmington Savings Fund Society FSB bought a new position in Teck Resources during the 3rd quarter valued at about $40,000. Finally, Community Bank N.A. acquired a new position in Teck Resources in the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

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.