Q4 2024 EPS Estimates for Teck Resources Limited Reduced by Raymond James (NYSE:TECK)

Teck Resources Limited (NYSE:TECK) (TSE:TECK) – Equities research analysts at Raymond James decreased their Q4 2024 earnings per share (EPS) estimates for Teck Resources in a note issued to investors on Tuesday, April 9th. Raymond James analyst B. Macarthur now forecasts that the basic materials company will post earnings per share of $0.29 for the quarter, down from their previous forecast of $0.34. The consensus estimate for Teck Resources’ current full-year earnings is $3.77 per share.

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

A number of other research analysts have also issued reports on the company. UBS Group began coverage on Teck Resources in a report on Tuesday, January 16th. They set a “buy” rating on the stock. Morgan Stanley reissued an “overweight” rating and issued a $55.00 price target on shares of Teck Resources in a research note on Thursday. Finally, Benchmark lifted their price target on Teck Resources from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Teck Resources currently has a consensus rating of “Moderate Buy” and an average price target of $65.21.

Teck Resources Price Performance

Shares of TECK opened at $48.57 on Thursday. The firm has a market capitalization of $24.79 billion, a price-to-earnings ratio of 14.16, a price-to-earnings-growth ratio of 6.02 and a beta of 1.15. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.60 and a current ratio of 1.10. Teck Resources has a one year low of $34.38 and a one year high of $50.30. The stock’s fifty day moving average is $41.90 and its 200-day moving average is $39.91.

Teck Resources Cuts Dividend

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

Hedge Funds Weigh In On Teck Resources

Several hedge funds and other institutional investors have recently made changes to their positions in TECK. Norges Bank acquired a new stake in Teck Resources during the 4th quarter valued at $291,283,000. FIL Ltd lifted its holdings in shares of Teck Resources by 98.8% during the fourth quarter. FIL Ltd now owns 11,937,233 shares of the basic materials company’s stock worth $504,588,000 after buying an additional 5,933,226 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Teck Resources by 1,833.3% during the second quarter. Alliancebernstein L.P. now owns 3,234,380 shares of the basic materials company’s stock worth $136,167,000 after buying an additional 3,067,080 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Teck Resources by 16,855.2% during the fourth quarter. Principal Financial Group Inc. now owns 2,640,100 shares of the basic materials company’s stock worth $112,143,000 after buying an additional 2,624,529 shares in the last quarter. Finally, Boston Partners lifted its holdings in shares of Teck Resources by 28.8% during the fourth quarter. Boston Partners now owns 10,881,781 shares of the basic materials company’s stock worth $484,995,000 after buying an additional 2,432,378 shares in the last quarter. 78.06% of the stock is 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. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.