Teck Resources Ltd (NYSE:TECK) Given Consensus Recommendation of “Hold” by Analysts

Shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) have been given an average recommendation of “Hold” by the thirteen ratings firms that are covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $62.25.

A number of research firms have commented on TECK. JPMorgan Chase & Co. boosted their target price on Teck Resources from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Teck Resources from $64.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Scotiabank reaffirmed a “sector perform” rating on shares of Teck Resources in a research note on Monday, June 15th. Veritas downgraded Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 4th. Finally, Weiss Ratings upgraded shares of Teck Resources from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 4th.

Hedge Funds Weigh In On Teck Resources

Several institutional investors have recently made changes to their positions in TECK. Brown Brothers Harriman & Co. acquired a new position in shares of Teck Resources during the fourth quarter valued at $25,000. Blue Trust Inc. increased its position in shares of Teck Resources by 411.8% during the 1st quarter. Blue Trust Inc. now owns 563 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 453 shares during the period. Geneos Wealth Management Inc. raised its position in Teck Resources by 117.4% in the first quarter. Geneos Wealth Management Inc. now owns 561 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 303 shares in the last quarter. Oslo Pensjonsforsikring AS acquired a new stake in Teck Resources during the first quarter valued at approximately $83,000. Finally, Versant Capital Management Inc boosted its stake in shares of Teck Resources by 86.5% during the 2nd quarter. Versant Capital Management Inc now owns 1,587 shares of the basic materials company’s stock worth $94,000 after acquiring an additional 736 shares in the last quarter. 78.06% of the stock is owned by institutional investors.

Teck Resources Stock Performance

Shares of TECK stock opened at $68.84 on Friday. The stock has a 50 day simple moving average of $62.59 and a 200-day simple moving average of $59.92. The company has a market cap of $33.25 billion, a price-to-earnings ratio of 18.66, a price-to-earnings-growth ratio of 2.42 and a beta of 0.94. The company has a current ratio of 3.12, a quick ratio of 2.33 and a debt-to-equity ratio of 0.12. Teck Resources has a 12-month low of $31.68 and a 12-month high of $71.93.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its earnings results on Thursday, July 23rd. The basic materials company reported $1.35 EPS for the quarter, topping the consensus estimate of $0.95 by $0.40. The company had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.38 billion. Teck Resources had a net margin of 17.85% and a return on equity of 10.42%. The business’s revenue was up 78.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.38 EPS. On average, equities analysts forecast that Teck Resources will post 3.48 EPS for the current year.

Teck Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Teck Resources’s dividend payout ratio (DPR) is currently 9.76%.

About Teck Resources

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.