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

Shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) have been assigned an average rating of “Moderate Buy” from the eleven research firms that are currently covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $65.29.

Several equities research analysts have weighed in on TECK shares. JPMorgan Chase & Co. lowered their price target on Teck Resources from $57.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, October 25th. StockNews.com upgraded shares of Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. National Bank Financial lowered shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. UBS Group downgraded shares of Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Finally, Citigroup raised Teck Resources to a “hold” rating in a research report on Wednesday, October 2nd.

Teck Resources Stock Up 0.5 %

NYSE:TECK opened at $41.39 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. The stock has a market capitalization of $20.75 billion, a P/E ratio of 62.71 and a beta of 1.05. The company’s 50-day simple moving average is $44.57 and its 200-day simple moving average is $46.92. Teck Resources has a fifty-two week low of $36.50 and a fifty-two week high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.24. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same period in the previous year, the company earned $0.57 earnings per share. The business’s revenue for the quarter was down 20.6% on a year-over-year basis. On average, equities analysts anticipate that Teck Resources will post 1.81 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were paid a dividend of $0.0895 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.86%. Teck Resources’s payout ratio is currently 56.06%.

Institutional Trading of Teck Resources

A number of hedge funds have recently modified their holdings of TECK. Eastern Bank purchased a new stake in Teck Resources in the 3rd quarter worth approximately $39,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Teck Resources in the 3rd quarter valued at $40,000. Headlands Technologies LLC purchased a new stake in Teck Resources during the second quarter worth $38,000. Bruce G. Allen Investments LLC grew 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 valued at $46,000 after buying an additional 383 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its holdings in Teck Resources by 69.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock valued at $52,000 after buying an additional 409 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

About Teck Resources

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.