Teck Resources (NYSE:TECK) Shares Up 2.9% – Time to Buy?

Shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) traded up 2.9% during mid-day trading on Friday . The stock traded as high as $47.94 and last traded at $47.8910. 544,508 shares were traded during trading, a decline of 87% from the average session volume of 4,187,324 shares. The stock had previously closed at $46.55.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Scotiabank reissued a “sector perform” rating on shares of Teck Resources in a research note on Tuesday, November 25th. UBS Group raised shares of Teck Resources from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 3rd. Weiss Ratings upgraded shares of Teck Resources from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, October 24th. Citigroup reaffirmed a “neutral” rating on shares of Teck Resources in a research note on Wednesday, October 8th. Finally, Veritas cut shares of Teck Resources from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Teck Resources currently has an average rating of “Hold” and an average target price of $55.71.

Teck Resources Trading Up 3.1%

The business has a 50-day moving average price of $42.96 and a 200-day moving average price of $39.53. The company has a quick ratio of 2.08, a current ratio of 2.78 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $23.07 billion, a P/E ratio of 26.96, a PEG ratio of 0.67 and a beta of 0.83.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its earnings results on Wednesday, October 22nd. The basic materials company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.16. The business had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.93 billion. Teck Resources had a net margin of 11.93% and a return on equity of 4.14%. During the same quarter in the previous year, the firm posted $0.60 earnings per share. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. Analysts anticipate that Teck Resources Ltd will post 1.53 earnings per share for the current year.

Teck Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Monday, December 15th. This is an increase from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s dividend payout ratio is presently 20.22%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Union Bancaire Privee UBP SA boosted its position in shares of Teck Resources by 4.3% during the second quarter. Union Bancaire Privee UBP SA now owns 6,402 shares of the basic materials company’s stock worth $259,000 after purchasing an additional 264 shares in the last quarter. ASR Vermogensbeheer N.V. grew its holdings in shares of Teck Resources by 1.6% in the 3rd quarter. ASR Vermogensbeheer N.V. now owns 16,721 shares of the basic materials company’s stock valued at $734,000 after acquiring an additional 270 shares in the last quarter. Stephens Inc. AR increased its holdings in Teck Resources by 4.8% during the second quarter. Stephens Inc. AR now owns 7,189 shares of the basic materials company’s stock worth $290,000 after buying an additional 329 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in Teck Resources by 69.2% in the 1st quarter. Smartleaf Asset Management LLC now owns 856 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 350 shares during the last quarter. Finally, CWM LLC boosted its stake in shares of Teck Resources by 22.7% during the 3rd quarter. CWM LLC now owns 2,078 shares of the basic materials company’s stock worth $91,000 after acquiring an additional 384 shares during the period. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Company Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.