Teck Resources (TECK) Set to Announce Quarterly Earnings on Thursday

Teck Resources (NYSE:TECK) (TSE:TECK) will announce its earnings results before the market opens on Thursday, April 25th. Analysts expect the company to announce earnings of $1.05 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly 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 business had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $3.11 billion. Teck Resources had a return on equity of 9.67% and a net margin of 16.21%. On average, analysts expect Teck Resources to post $4 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Teck Resources Stock Performance

Shares of Teck Resources stock opened at $47.20 on Thursday. Teck Resources has a 52 week low of $34.38 and a 52 week high of $50.46. The company has a quick ratio of 0.60, a current ratio of 1.10 and a debt-to-equity ratio of 0.21. The business has a 50 day moving average price of $42.60 and a 200-day moving average price of $40.07. The company has a market cap of $24.09 billion, a PE ratio of 13.76, a price-to-earnings-growth ratio of 6.49 and a beta of 1.15.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a $0.0925 dividend. This represents a $0.37 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend was Thursday, March 14th. Teck Resources’s payout ratio is currently 10.50%.

Hedge Funds Weigh In On Teck Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bornite Capital Management LP bought a new position in shares of Teck Resources in the first quarter valued at approximately $14,136,000. Raymond James Financial Services Advisors Inc. boosted its position in shares of Teck Resources by 8.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 39,024 shares of the basic materials company’s stock valued at $1,576,000 after acquiring an additional 2,966 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Teck Resources by 0.7% in the first quarter. Bank of New York Mellon Corp now owns 527,062 shares of the basic materials company’s stock valued at $21,288,000 after acquiring an additional 3,812 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of Teck Resources by 10.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 17,270 shares of the basic materials company’s stock valued at $698,000 after acquiring an additional 1,591 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position 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 valued at $327,000 after acquiring an additional 341 shares during the period. Institutional investors own 78.06% of the company’s stock.

Analyst Ratings Changes

TECK has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their target price on shares of Teck Resources from $44.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday. Benchmark lifted their target price on shares of Teck Resources from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. UBS Group initiated coverage on Teck Resources in a report on Tuesday, January 16th. They issued a “buy” rating for the company. Finally, Morgan Stanley reiterated an “overweight” rating and set a $55.00 price target on shares of Teck Resources in a report on Thursday, April 11th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $65.04.

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.