Teck Resources Limited (NYSE:TECK) (TSE:TECK) – Stock analysts at B. Riley upped their Q2 2021 earnings per share estimates for shares of Teck Resources in a research report issued to clients and investors on Tuesday, April 13th. B. Riley analyst L. Pipes now anticipates that the basic materials company will earn $0.46 per share for the quarter, up from their prior estimate of $0.38. B. Riley currently has a “Buy” rating on the stock. B. Riley also issued estimates for Teck Resources’ FY2021 earnings at $2.30 EPS, FY2022 earnings at $2.63 EPS and FY2023 earnings at $3.42 EPS.
Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings results on Thursday, February 18th. The basic materials company reported $0.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.05. The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.94 billion. Teck Resources had a positive return on equity of 2.49% and a negative net margin of 14.37%.
Shares of NYSE:TECK opened at $22.23 on Thursday. The business’s 50 day simple moving average is $20.54 and its 200-day simple moving average is $17.93. The firm has a market capitalization of $11.64 billion, a price-to-earnings ratio of -12.49 and a beta of 1.27. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.34 and a quick ratio of 0.67. Teck Resources has a 12 month low of $6.79 and a 12 month high of $23.93.
A number of hedge funds and other institutional investors have recently made changes to their positions in TECK. Amundi Pioneer Asset Management Inc. increased its holdings in Teck Resources by 72.9% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 360,876 shares of the basic materials company’s stock valued at $8,365,000 after purchasing an additional 152,124 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Teck Resources by 62.0% in the 3rd quarter. Wells Fargo & Company MN now owns 31,857 shares of the basic materials company’s stock valued at $444,000 after purchasing an additional 12,198 shares in the last quarter. Advisor Partners LLC increased its holdings in Teck Resources by 4.8% in the 3rd quarter. Advisor Partners LLC now owns 17,766 shares of the basic materials company’s stock valued at $247,000 after purchasing an additional 820 shares in the last quarter. Van ECK Associates Corp increased its holdings in Teck Resources by 8.1% in the 3rd quarter. Van ECK Associates Corp now owns 202,892 shares of the basic materials company’s stock valued at $2,824,000 after purchasing an additional 15,237 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in Teck Resources by 63.6% in the 3rd quarter. Sei Investments Co. now owns 29,891 shares of the basic materials company’s stock valued at $416,000 after purchasing an additional 11,623 shares in the last quarter. Hedge funds and other institutional investors own 47.07% of the company’s stock.
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 31st. Investors of record on Monday, March 15th were issued a $0.0394 dividend. This is an increase from Teck Resources’s previous quarterly dividend of $0.04. This represents a $0.16 annualized dividend and a yield of 0.71%. The ex-dividend date was Friday, March 12th. Teck Resources’s dividend payout ratio is currently 6.76%.
Teck Resources Company Profile
Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. It operates through Steelmaking Coal, Copper, Zinc, and Energy segments. The company's principal products include steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead and molybdenum concentrates.
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