Teck Resources Limited (NYSE:TECK) Receives Consensus Rating of “Buy” from Brokerages

Shares of Teck Resources Limited (NYSE:TECKGet Rating) (TSE:TECK) have been assigned a consensus rating of “Buy” from the twenty-one ratings firms that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $47.42.

Several research analysts have commented on the company. StockNews.com assumed coverage on Teck Resources in a report on Thursday, March 31st. They set a “buy” rating on the stock. B. Riley boosted their target price on Teck Resources from C$42.00 to C$48.00 in a research report on Thursday, February 3rd. National Bank Financial boosted their target price on Teck Resources from C$55.00 to C$60.00 in a research report on Friday. The Goldman Sachs Group raised Teck Resources from a “neutral” rating to a “buy” rating and set a $51.00 price objective for the company in a report on Wednesday, March 9th. Finally, Canaccord Genuity Group raised Teck Resources from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Monday, January 10th.

Hedge funds have recently modified their holdings of the company. Dodge & Cox lifted its stake in Teck Resources by 3.6% in the 4th quarter. Dodge & Cox now owns 24,098,340 shares of the basic materials company’s stock worth $694,514,000 after purchasing an additional 829,000 shares in the last quarter. Soroban Capital Partners LP bought a new position in Teck Resources in the 4th quarter worth about $318,590,000. Janus Henderson Group PLC grew its stake in Teck Resources by 4.7% in the 3rd quarter. Janus Henderson Group PLC now owns 9,265,488 shares of the basic materials company’s stock worth $230,607,000 after acquiring an additional 417,123 shares in the last quarter. ANTIPODES PARTNERS Ltd grew its stake in Teck Resources by 9.7% in the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 7,212,034 shares of the basic materials company’s stock worth $179,651,000 after acquiring an additional 639,153 shares in the last quarter. Finally, Mackenzie Financial Corp grew its stake in Teck Resources by 22.2% in the 3rd quarter. Mackenzie Financial Corp now owns 5,793,954 shares of the basic materials company’s stock worth $143,993,000 after acquiring an additional 1,053,127 shares in the last quarter. 54.12% of the stock is owned by hedge funds and other institutional investors.

NYSE:TECK opened at $40.50 on Monday. The stock has a 50 day simple moving average of $37.88 and a 200 day simple moving average of $31.70. Teck Resources has a 1-year low of $19.32 and a 1-year high of $43.18. The company has a current ratio of 1.62, a quick ratio of 0.99 and a debt-to-equity ratio of 0.30. The stock has a market cap of $21.37 billion, a P/E ratio of 9.74, a PEG ratio of 0.15 and a beta of 1.19.

Teck Resources (NYSE:TECKGet Rating) (TSE:TECK) last posted its quarterly earnings data on Thursday, February 24th. The basic materials company reported $2.02 EPS for the quarter, missing the Zacks’ consensus estimate of $2.04 by ($0.02). Teck Resources had a return on equity of 13.80% and a net margin of 21.23%. The company had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter last year, the business earned $0.35 EPS. Teck Resources’s revenue was up 72.1% on a year-over-year basis. As a group, sell-side analysts forecast that Teck Resources will post 7.12 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 31st. Shareholders of record on Tuesday, March 15th were given a $0.0981 dividend. This represents a $0.39 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date was Monday, March 14th. This is an increase from Teck Resources’s previous quarterly dividend of $0.04. Teck Resources’s payout ratio is 9.26%.

About Teck Resources (Get Rating)

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. It operates through Steelmaking Coal, Copper, Zinc, Energy, and Corporate segments. The company's principal products include steelmaking coal; copper, gold, blended bitumen, lead, silver, molybdenum, zinc, and zinc concentrates; chemicals, fertilizers, and other metals.

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