Teck Resources Ltd (NYSE:TECK) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) have earned an average rating of “Moderate Buy” from the twenty ratings firms that are currently covering the stock, Marketbeat.com reports. Twelve analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $57.00.

Several brokerages have issued reports on TECK. Benchmark increased their target price on Teck Resources from $48.00 to $67.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. Truist Financial set a $67.00 price target on Teck Resources in a research report on Monday, February 23rd. TD Securities reaffirmed a “hold” rating on shares of Teck Resources in a research report on Monday, February 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Teck Resources in a research note on Wednesday, January 21st. Finally, Raymond James Financial lowered Teck Resources from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 14th.

Institutional Investors Weigh In On Teck Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of TECK. Welch Group LLC grew its holdings in Teck Resources by 3.5% in the fourth quarter. Welch Group LLC now owns 5,899 shares of the basic materials company’s stock worth $283,000 after purchasing an additional 199 shares during the last quarter. ASR Vermogensbeheer N.V. lifted its holdings in shares of Teck Resources by 1.6% during the 3rd quarter. ASR Vermogensbeheer N.V. now owns 16,721 shares of the basic materials company’s stock valued at $734,000 after purchasing an additional 270 shares during the last quarter. Compound Planning Inc. boosted its position in shares of Teck Resources by 1.0% in the 4th quarter. Compound Planning Inc. now owns 32,266 shares of the basic materials company’s stock worth $1,545,000 after purchasing an additional 333 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Teck Resources by 72.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 351 shares in the last quarter. Finally, CWM LLC grew its stake in Teck Resources by 22.7% during the 3rd quarter. CWM LLC now owns 2,078 shares of the basic materials company’s stock worth $91,000 after buying an additional 384 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Price Performance

Shares of TECK opened at $48.28 on Tuesday. The company has a 50 day moving average price of $54.38 and a 200-day moving average price of $47.60. Teck Resources has a fifty-two week low of $28.32 and a fifty-two week high of $62.41. The stock has a market capitalization of $23.24 billion, a PE ratio of 23.90, a PEG ratio of 3.01 and a beta of 0.77. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.54.

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

Teck Resources Dividend Announcement

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 $0.125 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.0%. Teck Resources’s payout ratio is presently 18.32%.

About Teck Resources

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.