Teck Resources Limited (NYSE:TECK – Get Rating) (TSE:TECK) – Analysts at Raymond James reduced their Q1 2023 EPS estimates for Teck Resources in a note issued to investors on Wednesday, April 27th. Raymond James analyst B. Macarthur now anticipates that the basic materials company will post earnings of $1.25 per share for the quarter, down from their previous estimate of $1.34. Raymond James also issued estimates for Teck Resources’ Q2 2023 earnings at $1.17 EPS, Q3 2023 earnings at $1.12 EPS and Q4 2023 earnings at $1.01 EPS.
Teck Resources (NYSE:TECK – Get Rating) (TSE:TECK) last issued its quarterly earnings results on Wednesday, April 27th. The basic materials company reported $2.96 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.87 by $1.09. Teck Resources had a net margin of 21.23% and a return on equity of 13.80%. The company had revenue of $5.03 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same period in the prior year, the company earned $0.48 EPS. Teck Resources’s revenue was up 97.6% on a year-over-year basis.
Shares of NYSE TECK opened at $38.89 on Friday. The business has a fifty day simple moving average of $39.46 and a 200-day simple moving average of $33.07. 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 company has a market cap of $20.52 billion, a price-to-earnings ratio of 9.24, a P/E/G ratio of 0.14 and a beta of 1.19. Teck Resources has a 12 month low of $19.32 and a 12 month high of $44.93.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Wednesday, June 15th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Tuesday, June 14th. This is a boost from Teck Resources’s previous quarterly dividend of $0.10. Teck Resources’s dividend payout ratio (DPR) is presently 9.26%.
A number of hedge funds have recently modified their holdings of TECK. Capital Asset Advisory Services LLC bought a new stake in Teck Resources in the 1st quarter valued at $363,000. Welch Group LLC acquired a new stake in shares of Teck Resources during the 1st quarter valued at about $230,000. Krilogy Financial LLC bought a new stake in Teck Resources in the first quarter valued at about $220,000. Hillsdale Investment Management Inc. increased its stake in Teck Resources by 9.5% in the first quarter. Hillsdale Investment Management Inc. now owns 411,088 shares of the basic materials company’s stock valued at $16,590,000 after acquiring an additional 35,688 shares during the period. Finally, Keybank National Association OH acquired a new position in Teck Resources in the first quarter worth about $234,000. 54.12% of the stock is 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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