Brokerages Set Teck Resources Limited (NYSE:TECK) Price Target at $65.38

Shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) have received an average rating of “Moderate Buy” from the twelve ratings firms that are presently covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $65.38.

Several research firms have recently weighed in on TECK. National Bank Financial lowered shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. StockNews.com upgraded Teck Resources from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. decreased their price objective on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Scotiabank upped their target price on shares of Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, October 8th. Finally, UBS Group cut shares of Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th.

Institutional Investors Weigh In On Teck Resources

Several hedge funds have recently bought and sold shares of the company. Stonebridge Financial Group LLC bought a new stake in shares of Teck Resources in the 4th quarter valued at $25,000. Global Trust Asset Management LLC bought a new stake in shares of Teck Resources in the fourth quarter worth about $27,000. Eastern Bank acquired a new stake in shares of Teck Resources during the third quarter worth about $39,000. Wilmington Savings Fund Society FSB bought a new position in shares of Teck Resources during the 3rd quarter valued at about $40,000. Finally, Bruce G. Allen Investments LLC grew its position in shares of 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 purchasing an additional 383 shares during the period. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Stock Down 2.2 %

Shares of NYSE TECK opened at $40.80 on Thursday. Teck Resources has a 52-week low of $36.50 and a 52-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 has a fifty day moving average of $42.94 and a two-hundred day moving average of $46.13. The stock has a market cap of $20.35 billion, a PE ratio of 61.82 and a beta of 1.05.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders 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 dividend yield of 0.88%. Teck Resources’s payout ratio is currently 53.03%.

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.