Teck Resources (NYSE:TECK) Price Target Lowered to C$57.00 at BMO Capital Markets

Teck Resources (NYSE:TECKGet Rating) (TSE:TECK) had its price objective decreased by BMO Capital Markets from C$61.00 to C$57.00 in a report issued on Tuesday morning, The Fly reports.

TECK has been the subject of a number of other research reports. Raymond James raised their price objective on Teck Resources from C$52.00 to C$58.00 in a research report on Thursday, March 31st. StockNews.com began coverage on Teck Resources in a research report on Thursday, March 31st. They set a buy rating for the company. National Bank Financial raised their price objective on Teck Resources from C$55.00 to C$60.00 in a research report on Friday, April 8th. The Goldman Sachs Group upgraded Teck Resources from a neutral rating to a buy rating and set a $51.00 price objective for the company in a research report on Wednesday, March 9th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Teck Resources from $40.00 to $50.00 in a research report on Thursday, March 10th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Buy and an average target price of $47.64.

NYSE:TECK opened at $40.14 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 1.62 and a debt-to-equity ratio of 0.30. The business’s 50-day simple moving average is $38.02 and its two-hundred day simple moving average is $31.80. The stock has a market cap of $21.18 billion, a PE ratio of 9.53, a P/E/G ratio of 0.15 and a beta of 1.19. Teck Resources has a 52 week low of $19.32 and a 52 week high of $43.18.

Teck Resources (NYSE:TECKGet Rating) (TSE:TECK) last posted its quarterly earnings results 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). The business had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.54 billion. Teck Resources had a net margin of 21.23% and a return on equity of 13.80%. Teck Resources’s revenue was up 72.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.35 earnings per share. Sell-side analysts anticipate that Teck Resources will post 7.12 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 31st. Stockholders of record on Tuesday, March 15th were paid a dividend of $0.0981 per share. This is a boost from Teck Resources’s previous quarterly dividend of $0.04. The ex-dividend date was Monday, March 14th. This represents a $0.39 dividend on an annualized basis and a dividend yield of 0.98%. Teck Resources’s dividend payout ratio is currently 9.26%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in TECK. Soroban Capital Partners LP bought a new position in shares of Teck Resources during the fourth quarter valued at approximately $318,590,000. Norges Bank bought a new position in shares of Teck Resources during the fourth quarter valued at approximately $127,516,000. Natixis bought a new position in shares of Teck Resources during the third quarter valued at approximately $67,513,000. Davis Selected Advisers bought a new position in shares of Teck Resources during the third quarter valued at approximately $62,145,000. Finally, Alberta Investment Management Corp grew its stake in shares of Teck Resources by 168.6% during the fourth quarter. Alberta Investment Management Corp now owns 3,114,703 shares of the basic materials company’s stock valued at $89,830,000 after buying an additional 1,955,186 shares during the last quarter. 54.12% of the stock is currently owned by hedge funds and other institutional investors.

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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