TECK has been the subject of a number of other research reports. TheStreet raised Teck Resources from a c+ rating to a b- rating in a report on Friday, May 27th. Canaccord Genuity Group raised Teck Resources from a hold rating to a buy rating in a report on Thursday, July 28th. Morgan Stanley raised Teck Resources from an equal weight rating to an overweight rating and lifted their target price for the stock from $41.00 to $51.00 in a report on Friday. Royal Bank of Canada dropped their target price on Teck Resources from C$67.00 to C$60.00 in a report on Thursday, July 28th. Finally, BMO Capital Markets dropped their price target on Teck Resources from C$67.00 to C$61.00 in a research note on Friday, July 8th. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $50.71.
Teck Resources Trading Up 3.9 %
Shares of Teck Resources stock opened at $33.32 on Monday. The business has a fifty day simple moving average of $31.35 and a two-hundred day simple moving average of $36.12. Teck Resources has a 1 year low of $22.75 and a 1 year high of $45.90. The company has a market capitalization of $17.38 billion, a price-to-earnings ratio of 4.14, a P/E/G ratio of 1.07 and a beta of 1.09. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.25.
Teck Resources Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th will be issued a dividend of $0.097 per share. This represents a $0.39 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Wednesday, September 14th. Teck Resources’s dividend payout ratio (DPR) is currently 4.72%.
Institutional Trading of Teck Resources
Hedge funds and other institutional investors have recently made changes to their positions in the company. Assetmark Inc. bought a new stake in shares of Teck Resources during the second quarter worth about $26,000. Optiver Holding B.V. bought a new stake in shares of Teck Resources during the second quarter worth about $33,000. Achmea Investment Management B.V. bought a new stake in shares of Teck Resources during the first quarter worth about $37,000. Optimum Investment Advisors acquired a new position in shares of Teck Resources in the first quarter worth approximately $40,000. Finally, Kistler Tiffany Companies LLC lifted its stake in shares of Teck Resources by 95.9% in the first quarter. Kistler Tiffany Companies LLC now owns 1,056 shares of the basic materials company’s stock worth $43,000 after acquiring an additional 517 shares during the period. 55.01% of the stock is currently owned by institutional investors.
About Teck Resources
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, and Energy segments. The company's principal products include copper, zinc, steelmaking coal, and blended bitumen.
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