Equities Analysts Issue Forecasts for Teck Resources Limited’s FY2024 Earnings (NYSE:TECK)

Teck Resources Limited (NYSE:TECK) (TSE:TECK) – Stock analysts at Raymond James lifted their FY2024 EPS estimates for shares of Teck Resources in a report issued on Monday, September 23rd. Raymond James analyst B. Macarthur now expects that the basic materials company will post earnings of $1.92 per share for the year, up from their prior estimate of $1.84. The consensus estimate for Teck Resources’ current full-year earnings is $1.98 per share. Raymond James also issued estimates for Teck Resources’ Q2 2025 earnings at $0.41 EPS, Q3 2025 earnings at $0.38 EPS, Q4 2025 earnings at $0.37 EPS and FY2025 earnings at $1.61 EPS.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.32. Teck Resources had a net margin of 9.40% and a return on equity of 6.52%. The company had revenue of $3.87 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same period in the prior year, the business posted $0.91 EPS. The firm’s revenue was up 10.1% compared to the same quarter last year.

Several other analysts have also commented on the stock. Eight Capital lowered shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 11th. Benchmark restated a “buy” rating and issued a $55.00 target price on shares of Teck Resources in a research note on Thursday, July 25th. CIBC upped their price target on Teck Resources from $70.00 to $80.00 and gave the stock an “outperformer” rating in a research note on Friday, July 12th. Paradigm Capital upgraded Teck Resources to a “moderate buy” rating in a report on Friday, July 26th. Finally, UBS Group raised shares of Teck Resources from a “neutral” rating to a “buy” rating and upped their target price for the stock from $76.00 to $78.00 in a research report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $65.00.

Teck Resources Trading Down 0.8 %

NYSE TECK opened at $50.58 on Thursday. The stock has a market cap of $25.88 billion, a P/E ratio of 22.38 and a beta of 1.01. Teck Resources has a fifty-two week low of $34.38 and a fifty-two week high of $55.13. The stock has a 50 day simple moving average of $46.90 and a two-hundred day simple moving average of $47.89. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 1.48.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TECK. PNC Financial Services Group Inc. grew its holdings in shares of Teck Resources by 8.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,357 shares of the basic materials company’s stock valued at $480,000 after purchasing an additional 865 shares in the last quarter. Corient Private Wealth LLC raised its position in Teck Resources by 7.4% during the fourth quarter. Corient Private Wealth LLC now owns 38,713 shares of the basic materials company’s stock valued at $1,636,000 after purchasing an additional 2,653 shares during the period. Trexquant Investment LP purchased a new position in shares of Teck Resources in the 4th quarter worth approximately $737,000. Franklin Resources Inc. lifted its position in Teck Resources by 4.8% in the fourth quarter. Franklin Resources Inc. now owns 294,513 shares of the basic materials company’s stock worth $12,449,000 after buying an additional 13,503 shares during the last quarter. Finally, US Bancorp DE boosted its stake in Teck Resources by 22.1% during the fourth quarter. US Bancorp DE now owns 19,028 shares of the basic materials company’s stock worth $804,000 after buying an additional 3,438 shares during the period. Institutional investors own 78.06% of the company’s stock.

Teck Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.625 dividend. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. This represents a $2.50 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date of this dividend is Friday, September 13th. Teck Resources’s dividend payout ratio (DPR) is currently 16.37%.

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.