Analysts Set Teck Resources Limited (NYSE:TECK) PT at $50.00

Teck Resources Limited (NYSE:TECK) (TSE:TECK) has received an average rating of “Moderate Buy” from the eight research firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $50.00.

Several analysts have commented on TECK shares. UBS Group began coverage on shares of Teck Resources in a research report on Tuesday, January 16th. They set a “buy” rating for the company. Benchmark upped their price objective on Teck Resources from $50.00 to $52.00 and gave the company a “buy” rating in a report on Monday, April 8th. Morgan Stanley restated an “overweight” rating and set a $55.00 target price on shares of Teck Resources in a report on Thursday, April 11th. Finally, JPMorgan Chase & Co. upped their price target on Teck Resources from $44.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Hexagon Capital Partners LLC lifted its position in Teck Resources by 143.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 386 shares in the last quarter. Baystate Wealth Management LLC acquired a new position in shares of Teck Resources during the third quarter worth about $31,000. Creekmur Asset Management LLC bought a new position in shares of Teck Resources during the fourth quarter worth about $35,000. JFS Wealth Advisors LLC raised its position in Teck Resources by 249.0% in the 3rd quarter. JFS Wealth Advisors LLC now owns 841 shares of the basic materials company’s stock valued at $36,000 after buying an additional 600 shares during the last quarter. Finally, Optiver Holding B.V. lifted its stake in Teck Resources by 81.9% in the 4th quarter. Optiver Holding B.V. now owns 973 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 438 shares in the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Price Performance

Teck Resources stock opened at $49.29 on Tuesday. The business’s 50-day simple moving average is $45.01 and its 200 day simple moving average is $40.72. The company has a quick ratio of 0.86, a current ratio of 1.49 and a debt-to-equity ratio of 0.20. The stock has a market cap of $25.22 billion, a price-to-earnings ratio of 21.81, a P/E/G ratio of 8.76 and a beta of 1.12. Teck Resources has a 12-month low of $34.38 and a 12-month high of $51.65.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.01. Teck Resources had a net margin of 10.59% and a return on equity of 7.52%. The company had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.11 billion. As a group, research analysts anticipate that Teck Resources will post 2.67 earnings per share for the current year.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 17th will be issued a dividend of $0.0911 per share. The ex-dividend date is Monday, June 17th. This represents a $0.36 annualized dividend and a yield of 0.74%. Teck Resources’s dividend payout ratio (DPR) is currently 16.37%.

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.