B. Riley Estimates Teck Resources’ Q4 Earnings (NYSE:TECK)

Teck Resources Limited (NYSE:TECK) (TSE:TECK) – B. Riley reduced their Q4 2024 EPS estimates for Teck Resources in a research note issued on Tuesday, January 28th. B. Riley analyst N. Giles now forecasts that the basic materials company will post earnings per share of $0.23 for the quarter, down from their prior estimate of $0.26. The consensus estimate for Teck Resources’ current full-year earnings is $1.69 per share. B. Riley also issued estimates for Teck Resources’ FY2025 earnings at $1.53 EPS and FY2026 earnings at $1.39 EPS.

Several other brokerages have also issued reports on TECK. UBS Group lowered Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. National Bank Financial downgraded Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. Scotiabank lifted their target price on Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, October 8th. StockNews.com upgraded shares of Teck Resources from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Raymond James lowered their price objective on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, January 22nd. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $65.38.

Teck Resources Stock Performance

NYSE:TECK opened at $41.71 on Wednesday. The firm has a market capitalization of $20.80 billion, a PE ratio of 63.20 and a beta of 1.05. The stock’s fifty day moving average is $43.06 and its 200 day moving average is $46.22. 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.

Teck Resources Cuts Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.36 annualized dividend and a yield of 0.86%. Teck Resources’s dividend payout ratio (DPR) is presently 53.03%.

Hedge Funds Weigh In On Teck Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in TECK. Stonebridge Financial Group LLC acquired a new position in shares of Teck Resources during the fourth quarter worth $25,000. Global Trust Asset Management LLC acquired a new position in Teck Resources during the 4th quarter valued at about $27,000. Eastern Bank purchased a new stake in Teck Resources in the third quarter valued at about $39,000. Wilmington Savings Fund Society FSB purchased a new stake in Teck Resources in the third quarter valued at about $40,000. Finally, Bruce G. Allen Investments LLC boosted its holdings 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 acquiring an additional 383 shares in 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.