Teck Resources (NYSE:TECK) Trading Up 2.9% – Should You Buy?

Teck Resources Ltd (NYSE:TECK) (TSE:TECK)’s stock price traded up 2.9% on Friday . The stock traded as high as $47.94 and last traded at $47.8910. 544,508 shares changed hands during trading, a decline of 87% from the average session volume of 4,187,324 shares. The stock had previously closed at $46.55.

Analysts Set New Price Targets

TECK has been the subject of several recent analyst reports. Natl Bk Canada lowered shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, December 5th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $46.00 target price on shares of Teck Resources in a report on Wednesday, November 26th. Benchmark reiterated a “buy” rating on shares of Teck Resources in a research report on Thursday, October 23rd. Veritas cut shares of Teck Resources from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Teck Resources in a research report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $55.71.

Teck Resources Trading Up 3.1%

The business’s fifty day simple moving average is $42.96 and its two-hundred day simple moving average is $39.53. The company has a quick ratio of 2.08, a current ratio of 2.78 and a debt-to-equity ratio of 0.15. The company has a market cap of $23.07 billion, a price-to-earnings ratio of 26.96, a PEG ratio of 0.67 and a beta of 0.83.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Wednesday, October 22nd. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.16. The firm had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.93 billion. Teck Resources had a return on equity of 4.14% and a net margin of 11.93%.The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 EPS. On average, equities analysts predict that Teck Resources Ltd will post 1.53 EPS for the current year.

Teck Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Monday, December 15th. This is an increase from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s dividend payout ratio is currently 20.22%.

Hedge Funds Weigh In On Teck Resources

A number of institutional investors have recently made changes to their positions in TECK. Union Bancaire Privee UBP SA raised its stake in Teck Resources by 4.3% in the 2nd quarter. Union Bancaire Privee UBP SA now owns 6,402 shares of the basic materials company’s stock valued at $259,000 after purchasing an additional 264 shares during the last quarter. ASR Vermogensbeheer N.V. lifted its stake in shares of Teck Resources by 1.6% during the third quarter. ASR Vermogensbeheer N.V. now owns 16,721 shares of the basic materials company’s stock valued at $734,000 after buying an additional 270 shares during the period. Stephens Inc. AR boosted its position in Teck Resources by 4.8% during the second quarter. Stephens Inc. AR now owns 7,189 shares of the basic materials company’s stock worth $290,000 after acquiring an additional 329 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in Teck Resources by 69.2% in the 1st quarter. Smartleaf Asset Management LLC now owns 856 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 350 shares during the period. Finally, CWM LLC grew its stake in Teck Resources by 22.7% in the 3rd quarter. CWM LLC now owns 2,078 shares of the basic materials company’s stock worth $91,000 after acquiring an additional 384 shares during the period. 78.06% of the stock is owned by institutional investors and hedge funds.

About Teck Resources

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.