Analysts Set Teck Resources Ltd (TECK) PT at $32.44
Shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) have been given an average recommendation of “Buy” by the twenty-six ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, twenty-two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $32.10.
Several research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Teck Resources from a “buy” rating to a “hold” rating in a research note on Friday. ValuEngine raised shares of Teck Resources from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Bank of America Corporation raised their price target on shares of Teck Resources from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, October 4th. BMO Capital Markets raised their price target on shares of Teck Resources from $40.00 to $41.00 and gave the stock an “outperform” rating in a research note on Monday, September 25th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $26.00 price target (up previously from $24.00) on shares of Teck Resources in a research note on Monday, September 25th.
Several institutional investors have recently modified their holdings of the company. Capital Analysts LLC purchased a new position in shares of Teck Resources in the 2nd quarter worth approximately $100,000. Winslow Evans & Crocker Inc. purchased a new position in shares of Teck Resources in the 2nd quarter worth approximately $108,000. Financial Architects Inc purchased a new position in shares of Teck Resources in the 2nd quarter worth approximately $123,000. PNC Financial Services Group Inc. purchased a new position in shares of Teck Resources in the 2nd quarter worth approximately $124,000. Finally, Tower Research Capital LLC TRC purchased a new position in shares of Teck Resources in the 2nd quarter worth approximately $164,000. 46.80% of the stock is currently owned by hedge funds and other institutional investors.
Teck Resources (NYSE:TECK) traded down 3.61% during mid-day trading on Wednesday, reaching $22.14. Teck Resources has a one year low of $14.56 and a one year high of $26.60. The stock has a market capitalization of $12.63 billion, a P/E ratio of 7.61 and a beta of 1.21. The firm has a 50-day moving average price of $22.94 and a 200 day moving average price of $20.60.
Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.02. The company had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.75 billion. Teck Resources had a net margin of 17.93% and a return on equity of 13.01%. The business’s quarterly revenue was up 62.0% compared to the same quarter last year. Equities analysts forecast that Teck Resources will post $3.50 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were given a $0.0399 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date was Thursday, September 14th. Teck Resources’s payout ratio is currently 3.01%.
About Teck Resources
Teck Resources Ltd is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company’s activities are organized into business units that are focused on steelmaking coal, copper, zinc and energy. It operates in five segments: steelmaking coal, copper, zinc, energy and corporate.
Receive News & Stock Ratings for Teck Resources Ltd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teck Resources Ltd and related stocks with our FREE daily email newsletter.