Teck Resources Ltd (NYSE:TECK) Receives Consensus Rating of “Hold” from Brokerages

Shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) have been assigned a consensus rating of “Hold” from the twenty ratings firms that are currently covering the stock, MarketBeat reports. Twelve equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $60.1111.

A number of equities analysts have commented on TECK shares. National Bankshares upgraded shares of Teck Resources from a “sector perform” rating to an “outperform” rating in a report on Thursday, April 24th. Benchmark reduced their target price on shares of Teck Resources from $55.00 to $48.00 and set a “buy” rating for the company in a report on Monday, July 28th. B. Riley downgraded shares of Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, July 28th. Stifel Nicolaus started coverage on shares of Teck Resources in a report on Wednesday, July 9th. They issued a “hold” rating for the company. Finally, Stifel Canada upgraded shares of Teck Resources to a “hold” rating in a report on Tuesday, July 8th.

Hedge Funds Weigh In On Teck Resources

Several hedge funds and other institutional investors have recently bought and sold shares of TECK. Raymond James Financial Inc. acquired a new position in Teck Resources in the 4th quarter worth approximately $14,344,000. Rockefeller Capital Management L.P. increased its holdings in Teck Resources by 2.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 13,511 shares of the basic materials company’s stock worth $548,000 after buying an additional 335 shares during the period. First Trust Advisors LP increased its holdings in Teck Resources by 1.6% in the 4th quarter. First Trust Advisors LP now owns 65,749 shares of the basic materials company’s stock worth $2,665,000 after buying an additional 1,027 shares during the period. TD Waterhouse Canada Inc. increased its holdings in Teck Resources by 0.8% in the 4th quarter. TD Waterhouse Canada Inc. now owns 1,815,851 shares of the basic materials company’s stock worth $73,418,000 after buying an additional 14,737 shares during the period. Finally, Senator Investment Group LP increased its holdings in Teck Resources by 147.0% in the 4th quarter. Senator Investment Group LP now owns 870,988 shares of the basic materials company’s stock worth $35,301,000 after buying an additional 518,377 shares during the period. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Price Performance

NYSE:TECK opened at $32.27 on Monday. Teck Resources has a 1-year low of $28.32 and a 1-year high of $54.13. The company has a 50-day moving average of $36.86 and a 200 day moving average of $37.50. The firm has a market cap of $15.59 billion, a PE ratio of 84.92, a price-to-earnings-growth ratio of 0.51 and a beta of 0.81. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.47 and a quick ratio of 2.45.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Thursday, July 24th. The basic materials company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.07. The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $2.25 billion. Teck Resources had a net margin of 2.51% and a return on equity of 3.91%. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.79 earnings per share. As a group, research analysts anticipate that Teck Resources will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.0918 per share. This represents a $0.37 annualized dividend and a dividend yield of 1.1%. This is an increase from Teck Resources’s previous quarterly dividend of $0.09. The ex-dividend date is Monday, September 15th. Teck Resources’s dividend payout ratio is currently 94.74%.

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.