Teck Resources Q4 EPS Estimate Decreased by Raymond James

Teck Resources Limited (NYSE:TECK) (TSE:TECK) – Research analysts at Raymond James lowered their Q4 2024 earnings estimates for Teck Resources in a report released on Tuesday, January 21st. Raymond James analyst B. Macarthur now anticipates that the basic materials company will post earnings of $0.30 per share for the quarter, down from their previous forecast of $0.48. Raymond James has a “Outperform” rating and a $70.00 price target on the stock. The consensus estimate for Teck Resources’ current full-year earnings is $1.69 per share. Raymond James also issued estimates for Teck Resources’ Q1 2025 earnings at $0.32 EPS, Q2 2025 earnings at $0.39 EPS, Q3 2025 earnings at $0.44 EPS, Q4 2025 earnings at $0.42 EPS and FY2025 earnings at $1.56 EPS.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.24. The business had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.09 billion. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. Teck Resources’s revenue was down 20.6% compared to the same quarter last year. During the same period last year, the business earned $0.57 EPS.

Other equities research analysts have also recently issued reports about the company. National Bank Financial cut Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. Citigroup upgraded 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 report on Thursday, October 24th. JPMorgan Chase & Co. decreased their target price 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, Scotiabank increased their price target on Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a report on Tuesday, October 8th. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Teck Resources presently has an average rating of “Moderate Buy” and a consensus price target of $65.38.

Teck Resources Stock Up 0.1 %

Teck Resources stock opened at $43.39 on Friday. Teck Resources has a 12 month low of $36.50 and a 12 month high of $55.13. The stock has a fifty day simple moving average of $43.49 and a two-hundred day simple moving average of $46.43. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The firm has a market cap of $21.64 billion, a price-to-earnings ratio of 65.74 and a beta of 1.05.

Hedge Funds Weigh In On Teck Resources

Several institutional investors have recently added to or reduced their stakes in TECK. Global Trust Asset Management LLC bought a new position in shares of Teck Resources in the 4th quarter valued at about $27,000. Eastern Bank purchased a new position in shares of Teck Resources during the 3rd quarter worth about $39,000. Wilmington Savings Fund Society FSB bought a new position in shares of Teck Resources during the third quarter valued at approximately $40,000. Bruce G. Allen Investments LLC increased its stake in Teck Resources by 77.4% in the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 383 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its position in shares of Teck Resources by 69.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 409 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Cuts Dividend

The company also recently announced 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 of this dividend was Friday, December 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.83%. Teck Resources’s dividend payout ratio is currently 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.