Teck Resources Limited (NYSE:TECK) Receives $65.38 Consensus Price Target from Analysts

Shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) have earned an average rating of “Moderate Buy” from the twelve brokerages that are presently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $65.38.

A number of equities analysts recently weighed in on TECK shares. National Bank Financial downgraded shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. Raymond James reduced their price objective on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, January 22nd. UBS Group cut shares of Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th.

Teck Resources Price Performance

Shares of TECK opened at $40.33 on Monday. The company has a market cap of $20.11 billion, a price-to-earnings ratio of 73.32 and a beta of 1.02. Teck Resources has a 1-year low of $37.80 and a 1-year high of $55.13. The company’s fifty day simple moving average is $41.91 and its 200 day simple moving average is $45.60. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2.58 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. On average, research analysts forecast that Teck Resources will post 1.53 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $0.0879 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 0.87%. Teck Resources’s payout ratio is presently 61.82%.

Institutional Investors Weigh In On Teck Resources

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Teck Resources by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 19,316,132 shares of the basic materials company’s stock valued at $783,153,000 after acquiring an additional 58,985 shares during the period. Amundi raised its stake in Teck Resources by 5.6% in the fourth quarter. Amundi now owns 14,949,233 shares of the basic materials company’s stock valued at $619,765,000 after purchasing an additional 791,725 shares in the last quarter. Norges Bank acquired a new position in Teck Resources in the fourth quarter valued at about $470,101,000. Invesco Ltd. raised its stake in Teck Resources by 4.7% in the fourth quarter. Invesco Ltd. now owns 7,711,727 shares of the basic materials company’s stock valued at $312,556,000 after purchasing an additional 347,235 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in Teck Resources by 21.7% in the third quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company’s stock valued at $388,507,000 after purchasing an additional 1,326,241 shares in the last quarter. 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.