Teck Resources (NYSE:TECK) Cut to “Hold” at Desjardins

Desjardins lowered shares of Teck Resources (NYSE:TECK) (TSE:TECK) from a buy rating to a hold rating in a research report report published on Friday, MarketBeat Ratings reports. Desjardins also issued estimates for Teck Resources’ Q2 2025 earnings at $0.14 EPS.

Other analysts also recently issued research reports about the stock. Stifel Nicolaus initiated coverage on shares of Teck Resources in a report on Wednesday, July 9th. They set a “hold” rating for the company. BMO Capital Markets initiated coverage on shares of Teck Resources in a report on Wednesday, April 16th. They set an “outperform” rating for the company. Stifel Canada upgraded shares of Teck Resources to a “hold” rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. raised their price objective on shares of Teck Resources from $41.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, July 9th. Finally, UBS Group restated a “neutral” rating on shares of Teck Resources in a report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $60.75.

Teck Resources Stock Performance

Shares of TECK stock opened at $37.55 on Friday. The firm has a 50-day moving average of $38.21 and a 200-day moving average of $38.70. The company has a market cap of $18.14 billion, a P/E ratio of 64.74, a P/E/G ratio of 0.57 and a beta of 0.80. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.36 and a quick ratio of 2.57. Teck Resources has a one year low of $28.32 and a one year high of $54.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Thursday, April 24th. The basic materials company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.24 by $0.18. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $2.19 billion. Teck Resources had a net margin of 3.48% and a return on equity of 4.53%. The firm’s revenue for the quarter was up 41.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.75 earnings per share. Equities research analysts forecast that Teck Resources will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a $0.0901 dividend. This is a positive change from Teck Resources’s previous quarterly dividend of $0.09. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date was Monday, June 16th. Teck Resources’s dividend payout ratio (DPR) is 62.07%.

Hedge Funds Weigh In On Teck Resources

A number of large investors have recently modified their holdings of TECK. Norges Bank bought a new position in shares of Teck Resources in the fourth quarter valued at approximately $470,101,000. Principal Financial Group Inc. raised its stake in Teck Resources by 56.9% in the first quarter. Principal Financial Group Inc. now owns 11,530,742 shares of the basic materials company’s stock valued at $419,970,000 after purchasing an additional 4,180,623 shares in the last quarter. Canoe Financial LP purchased a new stake in Teck Resources in the second quarter valued at approximately $97,536,000. Arrowstreet Capital Limited Partnership purchased a new stake in Teck Resources in the fourth quarter valued at approximately $65,197,000. Finally, Temasek Holdings Private Ltd raised its stake in Teck Resources by 125.8% in the first quarter. Temasek Holdings Private Ltd now owns 2,479,555 shares of the basic materials company’s stock valued at $90,330,000 after purchasing an additional 1,381,355 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors.

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.