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

Shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) have earned a consensus rating of “Moderate Buy” from the eleven ratings firms that are presently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $65.29.

A number of equities analysts recently commented on TECK shares. National Bank Financial cut Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. Citigroup raised Teck Resources to a “hold” rating in a research report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft lowered Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a research report on Friday, October 25th. JPMorgan Chase & Co. reduced their price target on Teck Resources from $57.00 to $55.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Finally, UBS Group lowered Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th.

Teck Resources Stock Performance

Shares of Teck Resources stock opened at $42.03 on Friday. The business has a 50-day moving average of $44.37 and a 200 day moving average of $46.84. Teck Resources has a 12 month low of $36.50 and a 12 month high of $55.13. The stock has a market capitalization of $21.07 billion, a price-to-earnings ratio of 63.68 and a beta of 1.05. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Thursday, October 24th. The basic materials company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.24. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same period last year, the business posted $0.57 EPS. Teck Resources’s revenue for the quarter was down 20.6% on a year-over-year basis. As a group, sell-side analysts forecast that Teck Resources will post 1.81 earnings per share for the current year.

Teck Resources Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were given a dividend of $0.0895 per share. This represents a $0.36 annualized dividend and a yield of 0.85%. The ex-dividend date was Friday, December 13th. Teck Resources’s dividend payout ratio (DPR) is 56.06%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Eastern Bank acquired a new position in Teck Resources during the third quarter worth approximately $39,000. Wilmington Savings Fund Society FSB acquired a new position in Teck Resources during the third quarter worth approximately $40,000. Headlands Technologies LLC acquired a new position in Teck Resources during the second quarter worth approximately $38,000. Bruce G. Allen Investments LLC increased its position in Teck Resources by 77.4% during the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock worth $46,000 after buying an additional 383 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its stake in shares of Teck Resources by 69.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 409 shares during the last quarter. Institutional investors and hedge funds 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.