Teck Resources (NYSE:TECK) Upgraded at StockNews.com

StockNews.com upgraded shares of Teck Resources (NYSE:TECK) (TSE:TECK) from a sell rating to a hold rating in a report issued on Tuesday morning.

Several other research analysts also recently weighed in on the company. TD Securities upgraded Teck Resources to a strong-buy rating in a research note on Tuesday, July 16th. CIBC raised their price target on Teck Resources from $70.00 to $80.00 and gave the company an outperformer rating in a report on Friday, July 12th. Benchmark reissued a buy rating and set a $55.00 price objective on shares of Teck Resources in a report on Thursday, July 25th. BMO Capital Markets started coverage on Teck Resources in a report on Monday, July 15th. They set an outperform rating on the stock. Finally, JPMorgan Chase & Co. reduced their price target on Teck Resources from $56.00 to $54.00 and set an overweight rating on the stock in a research report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $65.00.

Teck Resources Price Performance

Shares of NYSE:TECK opened at $49.00 on Tuesday. The stock’s 50 day moving average is $46.89 and its 200-day moving average is $47.56. Teck Resources has a twelve month low of $34.38 and a twelve month high of $55.13. The firm has a market capitalization of $25.07 billion, a price-to-earnings ratio of 21.68 and a beta of 1.01. The company has a quick ratio of 0.77, a current ratio of 1.48 and a debt-to-equity ratio of 0.19.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.32. The firm had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $2.67 billion. Teck Resources had a return on equity of 6.52% and a net margin of 9.40%. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 EPS. Sell-side analysts forecast that Teck Resources will post 2.02 EPS for the current fiscal year.

Teck Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.625 per share. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. The ex-dividend date is Friday, September 13th. This represents a $2.50 dividend on an annualized basis and a yield of 5.10%. Teck Resources’s payout ratio is presently 16.37%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC raised its stake in shares of Teck Resources by 143.0% in the first quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 386 shares during the last quarter. Creekmur Asset Management LLC purchased a new position in shares of Teck Resources in the fourth quarter worth $35,000. Headlands Technologies LLC purchased a new position in shares of Teck Resources in the second quarter worth $38,000. Optiver Holding B.V. raised its stake in shares of Teck Resources by 81.9% in the fourth quarter. Optiver Holding B.V. now owns 973 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 438 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Teck Resources by 583.1% in the second quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 898 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

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.