National Bank Financial Estimates Teck Resources Q4 Earnings

Teck Resources Limited (NYSE:TECK) (TSE:TECK) – Investment analysts at National Bank Financial dropped their Q4 2024 EPS estimates for shares of Teck Resources in a report released on Tuesday, January 21st. National Bank Financial analyst S. Nagle now forecasts that the basic materials company will post earnings of $0.21 per share for the quarter, down from their prior estimate of $0.29. National Bank Financial has a “Sector Perform” rating on the stock. The consensus estimate for Teck Resources’ current full-year earnings is $1.69 per share. National Bank Financial also issued estimates for Teck Resources’ FY2025 earnings at $1.06 EPS and FY2026 earnings at $1.32 EPS.

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

Several other research firms have also recently commented on TECK. Deutsche Bank Aktiengesellschaft cut Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a research report on Friday, October 25th. Citigroup raised shares of Teck Resources to a “hold” rating in a research note on Wednesday, October 2nd. StockNews.com upgraded shares of Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. reduced their price objective on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Finally, UBS Group cut Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. Six analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $65.38.

Teck Resources Price Performance

Shares of TECK stock opened at $43.35 on Thursday. Teck Resources has a fifty-two week low of $36.50 and a fifty-two week high of $55.13. 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 business’s 50 day moving average price is $43.56 and its 200-day moving average price is $46.50. The firm has a market cap of $21.62 billion, a P/E ratio of 65.68 and a beta of 1.05.

Institutional Investors Weigh In On Teck Resources

A number of hedge funds and other institutional investors have recently modified their holdings of TECK. Global Trust Asset Management LLC bought a new stake in shares of Teck Resources during the 4th quarter worth $27,000. Eastern Bank acquired a new position in shares of Teck Resources in the 3rd quarter valued at about $39,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Teck Resources in the third quarter worth approximately $40,000. Bruce G. Allen Investments LLC increased its stake in Teck Resources by 77.4% in the 3rd 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 boosted its stake in shares of Teck Resources by 69.7% during the 3rd 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 during the period. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were given a $0.0895 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.36 annualized dividend and a yield of 0.83%. Teck Resources’s dividend payout ratio is presently 53.03%.

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.