Teck Resources Ltd (NYSE:TECK) Given Average Rating of “Hold” by Analysts

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) has been assigned an average recommendation of “Hold” from the twenty ratings firms that are presently covering the stock, MarketBeat reports. Twelve investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $58.00.

TECK has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their target price on Teck Resources from $43.00 to $51.00 and gave the company a “neutral” rating in a research report on Friday, December 5th. Truist Financial set a $67.00 price objective on Teck Resources in a research note on Monday, February 23rd. Veritas raised Teck Resources from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 15th. Benchmark increased their target price on shares of Teck Resources from $48.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Finally, National Bank Financial cut shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 5th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TECK. Principal Financial Group Inc. grew its stake in shares of Teck Resources by 36.1% during the third quarter. Principal Financial Group Inc. now owns 16,879,229 shares of the basic materials company’s stock valued at $740,604,000 after buying an additional 4,474,637 shares during the last quarter. Norges Bank purchased a new position in Teck Resources during the 2nd quarter valued at $437,657,000. Northwest & Ethical Investments L.P. boosted its holdings in Teck Resources by 16.1% during the 2nd quarter. Northwest & Ethical Investments L.P. now owns 157,645 shares of the basic materials company’s stock valued at $6,402,000 after acquiring an additional 21,900 shares during the period. Alps Advisors Inc. grew its position in Teck Resources by 37.3% in the 3rd quarter. Alps Advisors Inc. now owns 166,334 shares of the basic materials company’s stock valued at $7,300,000 after acquiring an additional 45,194 shares during the last quarter. Finally, Swiss National Bank increased its stake in Teck Resources by 6.0% in the second quarter. Swiss National Bank now owns 1,428,679 shares of the basic materials company’s stock worth $57,555,000 after purchasing an additional 80,300 shares during the period. Institutional investors own 78.06% of the company’s stock.

Teck Resources Stock Down 3.7%

Shares of TECK stock opened at $53.42 on Friday. The company has a current ratio of 2.54, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. Teck Resources has a 12 month low of $28.32 and a 12 month high of $62.41. The stock has a market cap of $25.72 billion, a P/E ratio of 26.45, a P/E/G ratio of 3.38 and a beta of 0.77. The company has a 50 day simple moving average of $54.39 and a two-hundred day simple moving average of $45.62.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Thursday, February 19th. The basic materials company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.39. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.28 billion. Teck Resources had a net margin of 12.98% and a return on equity of 5.90%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.45 EPS. On average, research analysts expect that Teck Resources will post 1.53 earnings per share for the current year.

Teck Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, March 13th. Teck Resources’s dividend payout ratio (DPR) is presently 17.82%.

Teck Resources Company Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.