Teck Resources Limited (NYSE:TECK) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) have been assigned an average rating of “Moderate Buy” from the eleven brokerages that are presently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $65.29.

Several research firms have commented on TECK. UBS Group lowered Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. Scotiabank raised their price objective on Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. cut their price objective on Teck Resources from $57.00 to $55.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. National Bank Financial lowered Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. Finally, Deutsche Bank Aktiengesellschaft lowered Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 target price on the stock. in a research report on Friday, October 25th.

Institutional Trading of Teck Resources

Several institutional investors and hedge funds have recently bought and sold shares of the company. Daymark Wealth Partners LLC raised its stake in Teck Resources by 2.8% during the third quarter. Daymark Wealth Partners LLC now owns 8,774 shares of the basic materials company’s stock valued at $458,000 after buying an additional 242 shares in the last quarter. Cigna Investments Inc. New raised its stake in Teck Resources by 3.8% during the second quarter. Cigna Investments Inc. New now owns 8,762 shares of the basic materials company’s stock valued at $420,000 after buying an additional 317 shares in the last quarter. Candriam S.C.A. raised its stake in Teck Resources by 4.0% during the second quarter. Candriam S.C.A. now owns 8,897 shares of the basic materials company’s stock valued at $426,000 after buying an additional 343 shares in the last quarter. Evergreen Capital Management LLC raised its stake in Teck Resources by 7.8% during the second quarter. Evergreen Capital Management LLC now owns 5,064 shares of the basic materials company’s stock valued at $243,000 after buying an additional 365 shares in the last quarter. Finally, Bruce G. Allen Investments LLC raised its stake in Teck Resources by 77.4% during the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock valued at $46,000 after buying an additional 383 shares in the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Price Performance

Shares of Teck Resources stock opened at $44.09 on Wednesday. Teck Resources has a twelve month low of $36.50 and a twelve month high of $55.13. The stock has a market capitalization of $22.59 billion, a P/E ratio of 66.80 and a beta of 1.03. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The business’s fifty day moving average price is $47.57 and its 200 day moving average price is $47.91.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.36 by $0.24. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same period last year, the company posted $0.57 earnings per share. The firm’s revenue was down 20.6% compared to the same quarter last year. As a group, research analysts anticipate that Teck Resources will post 1.81 earnings per share for the current year.

Teck Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a dividend of $0.0895 per share. This represents a $0.36 annualized dividend and a yield of 0.81%. The ex-dividend date is Friday, December 13th. Teck Resources’s payout ratio is currently 56.06%.

About Teck Resources

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.