Teck Resources Limited (NYSE:TECK) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) have earned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $65.22.

A number of research analysts have commented on TECK shares. National Bank Financial lowered Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. Raymond James decreased their price target on Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, January 22nd. JPMorgan Chase & Co. dropped their price objective on Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Finally, Bank of America upped their target price on shares of Teck Resources from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, March 10th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Teck Resources by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 19,316,132 shares of the basic materials company’s stock valued at $783,153,000 after purchasing an additional 58,985 shares in the last quarter. Amundi lifted its stake in Teck Resources by 5.6% in the fourth quarter. Amundi now owns 14,949,233 shares of the basic materials company’s stock valued at $619,765,000 after buying an additional 791,725 shares in the last quarter. Norges Bank acquired a new position in shares of Teck Resources in the fourth quarter valued at approximately $470,101,000. Invesco Ltd. increased its position in shares of Teck Resources by 4.7% during the fourth quarter. Invesco Ltd. now owns 7,711,727 shares of the basic materials company’s stock worth $312,556,000 after acquiring an additional 347,235 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Teck Resources by 21.7% during the third quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company’s stock worth $388,507,000 after acquiring an additional 1,326,241 shares during the period. 78.06% of the stock is owned by institutional investors and hedge funds.

Teck Resources Stock Performance

Shares of NYSE:TECK opened at $42.75 on Friday. The business has a fifty day moving average of $41.79 and a 200-day moving average of $44.76. The firm has a market cap of $21.52 billion, a PE ratio of 77.73 and a beta of 0.93. 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 has a twelve month low of $36.54 and a twelve month high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $2.58 billion. On average, equities research analysts predict that Teck Resources will post 1.53 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.0879 per share. This represents a $0.35 annualized dividend and a yield of 0.82%. The ex-dividend date is Friday, March 14th. Teck Resources’s payout ratio is presently 61.82%.

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.