Teck Resources Limited (NYSE:TECK) to Post FY2023 Earnings of $10.32 Per Share, National Bank Financial Forecasts

Teck Resources Limited (NYSE:TECKGet Rating) (TSE:TECK) – Equities research analysts at National Bank Financial boosted their FY2023 EPS estimates for Teck Resources in a note issued to investors on Monday, April 18th. National Bank Financial analyst S. Nagle now expects that the basic materials company will post earnings of $10.32 per share for the year, up from their prior estimate of $10.28.

Several other research firms have also issued reports on TECK. Deutsche Bank Aktiengesellschaft raised their price target on Teck Resources from $40.00 to $50.00 in a research report on Thursday, March 10th. Stifel Nicolaus raised their target price on Teck Resources from C$57.00 to C$68.00 in a research note on Thursday, March 17th. BMO Capital Markets lowered their target price on Teck Resources from C$61.00 to C$57.00 in a research note on Tuesday, April 12th. StockNews.com initiated coverage on Teck Resources in a research note on Thursday, March 31st. They set a “buy” rating for the company. Finally, B. Riley lifted their price objective on Teck Resources from C$42.00 to C$48.00 in a research note on Thursday, February 3rd. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Teck Resources currently has a consensus rating of “Buy” and an average price target of $50.13.

Shares of NYSE TECK opened at $43.18 on Wednesday. The stock’s 50-day moving average is $39.10 and its 200 day moving average is $32.51. The company has a current ratio of 1.62, a quick ratio of 0.99 and a debt-to-equity ratio of 0.30. Teck Resources has a 1-year low of $19.32 and a 1-year high of $44.93. The stock has a market cap of $22.78 billion, a price-to-earnings ratio of 10.26, a P/E/G ratio of 0.15 and a beta of 1.19.

Teck Resources (NYSE:TECKGet Rating) (TSE:TECK) last released its quarterly earnings results on Thursday, February 24th. The basic materials company reported $2.02 earnings per share for the quarter, missing the consensus estimate of $2.04 by ($0.02). The business had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.54 billion. Teck Resources had a net margin of 21.23% and a return on equity of 13.80%. The business’s revenue was up 72.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.35 EPS.

Several institutional investors have recently bought and sold shares of the company. Optimum Investment Advisors acquired a new stake in Teck Resources during the 1st quarter worth about $40,000. DeDora Capital Inc. acquired a new stake in Teck Resources during the 1st quarter worth about $45,000. Cornerstone Advisory LLC acquired a new stake in Teck Resources during the 4th quarter worth about $46,000. Penserra Capital Management LLC acquired a new stake in Teck Resources during the 4th quarter worth about $68,000. Finally, Ahrens Investment Partners LLC acquired a new stake in Teck Resources during the 4th quarter worth about $72,000. 54.12% of the stock is owned by hedge funds and other institutional investors.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 31st. Stockholders of record on Tuesday, March 15th were given a $0.0981 dividend. This is a boost from Teck Resources’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Monday, March 14th. This represents a $0.39 dividend on an annualized basis and a dividend yield of 0.91%. Teck Resources’s dividend payout ratio (DPR) is presently 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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Earnings History and Estimates for Teck Resources (NYSE:TECK)

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