Teck Resources Ltd (NYSE:TECK) Stock Has Consensus Price Target of $62.25 According to Analysts

Shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) have earned an average recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $62.25.

A number of brokerages recently issued reports on TECK. Raymond James Financial upgraded shares of Teck Resources from a “market perform” rating to an “outperform” rating in a report on Thursday, July 23rd. 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 report on Thursday, July 2nd. Weiss Ratings raised shares of Teck Resources from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. JPMorgan Chase & Co. boosted their target price on shares of Teck Resources from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, July 28th. Finally, Wall Street Zen cut shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 26th.

Institutional Trading of Teck Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vontobel Holding Ltd. lifted its stake in shares of Teck Resources by 8.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 111,052 shares of the basic materials company’s stock valued at $7,312,000 after acquiring an additional 8,503 shares during the last quarter. Triasima Portfolio Management inc. grew its position in Teck Resources by 43.4% during the 3rd quarter. Triasima Portfolio Management inc. now owns 39,350 shares of the basic materials company’s stock worth $2,597,000 after acquiring an additional 11,900 shares during the last quarter. Ninety One UK Ltd grew its position in Teck Resources by 119.2% during the 3rd quarter. Ninety One UK Ltd now owns 374,409 shares of the basic materials company’s stock worth $24,632,000 after acquiring an additional 203,568 shares during the last quarter. Fortitude Family Office LLC bought a new position in Teck Resources during the 3rd quarter worth approximately $46,000. Finally, Pacifica Partners Inc. increased its stake in Teck Resources by 25.4% in the 3rd quarter. Pacifica Partners Inc. now owns 32,623 shares of the basic materials company’s stock worth $2,119,000 after purchasing an additional 6,615 shares during the period. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Price Performance

Teck Resources stock opened at $63.44 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.33 and a current ratio of 3.12. Teck Resources has a 52 week low of $38.00 and a 52 week high of $72.56. The stock has a market capitalization of $30.65 billion, a P/E ratio of 17.19, a price-to-earnings-growth ratio of 2.08 and a beta of 1.01. The stock has a fifty day moving average of $66.86 and a 200-day moving average of $62.87.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $1.35 earnings per share (EPS) for the quarter, beating 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 firm’s revenue was up 78.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.38 EPS. On average, sell-side analysts expect that Teck Resources will post 4.28 earnings per share for the current fiscal year.

Teck Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th were paid a C$0.12 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, September 15th. Teck Resources’s payout ratio is currently 9.76%.

Teck Resources Company Profile

Teck Resources Limited is a Canadian mining and mineral development company focused primarily on copper and zinc, commodities used in electrification, infrastructure, manufacturing and other industrial applications. The company explores for, develops and operates mines, mineral processing facilities and related infrastructure.

Teck’s copper assets include Highland Valley Copper in British Columbia, Canada; Carmen de Andacollo in Chile; and Quebrada Blanca in northern Chile. Its zinc operations include the Red Dog mine in Alaska and the Trail Operations metallurgical complex in British Columbia, which produces refined metals, alloys and other related products.