B. Riley Analysts Reduce Earnings Estimates for Teck Resources Limited (NYSE:TECK)

Teck Resources Limited (NYSE:TECK) (TSE:TECK) – Stock analysts at B. Riley reduced their Q1 2024 EPS estimates for shares of Teck Resources in a research note issued to investors on Tuesday, April 9th. B. Riley analyst L. Pipes now forecasts that the basic materials company will post earnings of $0.70 per share for the quarter, down from their previous forecast of $0.84. The consensus estimate for Teck Resources’ current full-year earnings is $3.77 per share. B. Riley also issued estimates for Teck Resources’ Q4 2024 earnings at $0.47 EPS, FY2024 earnings at $2.78 EPS, FY2025 earnings at $1.69 EPS and FY2026 earnings at $1.35 EPS.

TECK has been the topic of a number of other reports. Benchmark upped their target price on shares of Teck Resources from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday. UBS Group initiated coverage on shares of Teck Resources in a research note on Tuesday, January 16th. They set a “buy” rating on the stock. Finally, Morgan Stanley restated an “overweight” rating and set a $55.00 target price on shares of Teck Resources in a research note on Thursday. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $65.21.

Teck Resources Stock Down 1.6 %

Shares of NYSE:TECK opened at $48.57 on Thursday. The firm’s 50-day moving average is $41.90 and its two-hundred day moving average is $39.91. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.10 and a quick ratio of 0.60. Teck Resources has a 1 year low of $34.38 and a 1 year high of $50.30. The firm has a market capitalization of $24.79 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 6.02 and a beta of 1.15.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.01. The firm had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $3.11 billion. Teck Resources had a net margin of 16.21% and a return on equity of 9.67%.

Teck Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $0.0925 dividend. This represents a $0.37 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend was Thursday, March 14th. Teck Resources’s payout ratio is currently 10.79%.

Institutional Investors Weigh In On Teck Resources

Large investors have recently modified their holdings of the company. Baystate Wealth Management LLC acquired a new stake in shares of Teck Resources in the third quarter valued at approximately $31,000. Money Concepts Capital Corp acquired a new stake in shares of Teck Resources in the fourth quarter valued at approximately $29,000. Creekmur Asset Management LLC acquired a new stake in shares of Teck Resources in the fourth quarter valued at approximately $35,000. JFS Wealth Advisors LLC boosted its holdings in shares of Teck Resources by 249.0% in the third quarter. JFS Wealth Advisors LLC now owns 841 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 600 shares during the period. Finally, Achmea Investment Management B.V. acquired a new stake in shares of Teck Resources in the first quarter valued at approximately $37,000. 78.06% of the stock is owned by institutional investors and hedge funds.

Teck Resources Company Profile

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.