Teck Resources (NYSE:TECK) Price Target Lowered to $43.00 at Deutsche Bank Aktiengesellschaft

Teck Resources (NYSE:TECKGet Rating) (TSE:TECK) had its price objective reduced by Deutsche Bank Aktiengesellschaft from $45.00 to $43.00 in a research note published on Wednesday morning, The Fly reports. They currently have a buy rating on the basic materials company’s stock.

Several other brokerages also recently commented on TECK. Scotiabank dropped their target price on Teck Resources from C$57.00 to C$54.00 in a report on Thursday, July 28th. CIBC upgraded Teck Resources from a neutral rating to an outperform rating in a report on Wednesday, June 15th. Canaccord Genuity Group upgraded Teck Resources from a hold rating to a buy rating in a report on Thursday, July 28th. Raymond James lifted their price objective on Teck Resources from C$56.00 to C$57.00 in a report on Monday. Finally, Stifel Nicolaus dropped their price objective on Teck Resources from C$62.00 to C$59.00 in a report on Tuesday, August 16th. Two 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 has a consensus rating of Moderate Buy and a consensus target price of $50.50.

Teck Resources Stock Performance

NYSE TECK opened at $30.72 on Wednesday. The firm has a market capitalization of $16.03 billion, a P/E ratio of 3.82, a P/E/G ratio of 1.12 and a beta of 1.09. Teck Resources has a 1-year low of $23.88 and a 1-year high of $45.90. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.25. The business’s 50-day simple moving average is $31.55 and its 200-day simple moving average is $36.05.

Teck Resources (NYSE:TECKGet Rating) (TSE:TECK) last announced its earnings results on Wednesday, July 27th. The basic materials company reported $3.25 EPS for the quarter, beating the consensus estimate of $2.01 by $1.24. The business had revenue of $5.79 billion for the quarter, compared to the consensus estimate of $5.59 billion. Teck Resources had a return on equity of 23.73% and a net margin of 28.90%. The company’s revenue was up 126.2% on a year-over-year basis. During the same period last year, the business posted $0.51 EPS. Equities analysts predict that Teck Resources will post 6.83 EPS for the current year.

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be given a dividend of $0.097 per share. The ex-dividend date is Wednesday, September 14th. This represents a $0.39 dividend on an annualized basis and a yield of 1.26%. Teck Resources’s dividend payout ratio is currently 4.72%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Atlas Capital Advisors LLC grew its stake in shares of Teck Resources by 4.5% in the first quarter. Atlas Capital Advisors LLC now owns 6,777 shares of the basic materials company’s stock worth $274,000 after purchasing an additional 289 shares in the last quarter. Wetherby Asset Management Inc. grew its stake in shares of Teck Resources by 1.0% in the first quarter. Wetherby Asset Management Inc. now owns 33,971 shares of the basic materials company’s stock worth $1,372,000 after purchasing an additional 323 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Teck Resources by 4.4% in the first quarter. PNC Financial Services Group Inc. now owns 8,067 shares of the basic materials company’s stock worth $327,000 after purchasing an additional 341 shares in the last quarter. RBA Wealth Management LLC grew its stake in shares of Teck Resources by 0.3% in the second quarter. RBA Wealth Management LLC now owns 132,789 shares of the basic materials company’s stock worth $4,059,000 after purchasing an additional 387 shares in the last quarter. Finally, Advisory Services Network LLC grew its stake in shares of Teck Resources by 2.3% in the first quarter. Advisory Services Network LLC now owns 17,629 shares of the basic materials company’s stock worth $712,000 after purchasing an additional 391 shares in the last quarter. Institutional investors own 55.01% of the company’s stock.

Teck Resources Company Profile

(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, and Energy segments. The company's principal products include copper, zinc, steelmaking coal, and blended bitumen.

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