Teck Resources Limited (NYSE:TECK) Receives Consensus Rating of “Moderate Buy” from Brokerages

Teck Resources Limited (NYSE:TECK) (TSE:TECK) has been given a consensus rating of “Moderate Buy” by the sixteen analysts that are currently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $64.11.

A number of equities research analysts recently commented on TECK shares. UBS Group reiterated a “neutral” rating on shares of Teck Resources in a report on Tuesday, April 15th. BMO Capital Markets assumed coverage on Teck Resources in a research note on Wednesday, April 16th. They issued an “outperform” rating for the company. Desjardins began coverage on shares of Teck Resources in a research report on Friday, April 4th. They issued a “buy” rating on the stock. National Bank Financial raised shares of Teck Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 24th. Finally, Veritas upgraded shares of Teck Resources to a “hold” rating in a report on Friday, April 11th.

Teck Resources Stock Performance

Teck Resources stock opened at $39.00 on Wednesday. The company has a market cap of $19.08 billion, a PE ratio of 70.92 and a beta of 0.79. 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 has a 1 year low of $28.32 and a 1 year high of $54.13. The company’s 50-day moving average is $35.14 and its two-hundred day moving average is $39.61.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Thursday, April 24th. The basic materials company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.18. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $2.19 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. Teck Resources’s revenue was up 41.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.75 earnings per share. Equities analysts anticipate that Teck Resources will post 1.53 earnings per share for the current year.

Teck Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a dividend of $0.0901 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.92%. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. The ex-dividend date is Monday, June 16th. Teck Resources’s payout ratio is 62.07%.

Institutional Trading of Teck Resources

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Teck Resources by 1.1% during the first quarter. Vanguard Group Inc. now owns 19,531,542 shares of the basic materials company’s stock worth $711,475,000 after acquiring an additional 215,410 shares during the last quarter. Amundi grew its position in shares of 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 during the last quarter. Norges Bank bought a new position in shares of Teck Resources during the fourth quarter worth approximately $470,101,000. Principal Financial Group Inc. lifted its holdings in Teck Resources by 56.9% during the 1st quarter. Principal Financial Group Inc. now owns 11,530,742 shares of the basic materials company’s stock worth $419,970,000 after purchasing an additional 4,180,623 shares during the last quarter. Finally, Boston Partners lifted its holdings in Teck Resources by 1.9% during the 1st quarter. Boston Partners now owns 9,251,775 shares of the basic materials company’s stock worth $337,042,000 after purchasing an additional 173,203 shares during the last quarter. Institutional investors 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.