Teck Resources Ltd (NYSE:TECK) Stock Has Average Target Price of $75.25 According to Analysts

Shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) have been assigned a consensus recommendation of “Hold” from the sixteen ratings firms that are presently covering the company, Marketbeat reports. Ten research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $75.25.

Several equities analysts have recently weighed in on TECK shares. JPMorgan Chase & Co. increased their price target on Teck Resources from $47.00 to $63.00 and gave the company a “neutral” rating in a report on Friday, October 30th. Raymond James Financial upgraded Teck Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday, July 23rd. Canaccord Genuity Group dropped their target price on Teck Resources from $96.50 to $87.00 and set a “hold” rating on the stock in a research report on Friday, October 30th. Stifel Nicolaus boosted their price target on Teck Resources from $82.00 to $95.00 and gave the company a “hold” rating in a research note on Tuesday, October 20th. Finally, Wall Street Zen lowered shares of Teck Resources from a “buy” rating to a “hold” rating in a research report on Saturday, October 31st.

Teck Resources Trading Down 1.6%

Teck Resources stock opened at $60.23 on Wednesday. Teck Resources has a 12 month low of $38.00 and a 12 month high of $72.56. The company has a market capitalization of $29.11 billion, a price-to-earnings ratio of 10.77, a price-to-earnings-growth ratio of 1.87 and a beta of 1.01. The business’s fifty day simple moving average is $64.74 and its two-hundred day simple moving average is $60.94. The company has a current ratio of 2.80, a quick ratio of 2.18 and a debt-to-equity ratio of 0.11.

Teck Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 15th will be issued a dividend of C$0.12 per share. This represents a $0.50 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, December 15th. Teck Resources’s dividend payout ratio is currently 6.44%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. raised its holdings in Teck Resources by 17.1% during the first quarter. Principal Financial Group Inc. now owns 22,044,284 shares of the basic materials company’s stock valued at $1,139,051,000 after acquiring an additional 3,211,985 shares during the period. HBK Investments L P boosted its stake in Teck Resources by 264.2% during the second quarter. HBK Investments L P now owns 5,773,121 shares of the basic materials company’s stock valued at $343,270,000 after buying an additional 4,188,029 shares during the last quarter. Temasek Holdings Private Ltd boosted its stake in Teck Resources by 7.1% during the first quarter. Temasek Holdings Private Ltd now owns 5,685,453 shares of the basic materials company’s stock valued at $294,015,000 after buying an additional 378,069 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Teck Resources by 48.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,270,386 shares of the basic materials company’s stock valued at $272,955,000 after buying an additional 1,720,066 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Teck Resources by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,185,349 shares of the basic materials company’s stock worth $268,261,000 after acquiring an additional 28,531 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Company Profile

Teck Resources Limited is a Canadian mining company focused primarily on copper and zinc. Its activities include exploring, developing, mining, processing and marketing metals used in construction, manufacturing and other industrial applications. The company has operations and interests in Canada, the United States, Chile and Peru. Its portfolio includes copper mines and projects, zinc mining at the Red Dog operation in Alaska, and Trail Operations in British Columbia, which processes zinc and lead concentrates and produces refined metals and related products.