Teck Resources Ltd (NYSE:TECK) Given Average Rating of “Moderate Buy” by Analysts

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) has been assigned a consensus rating of “Moderate Buy” from the twenty analysts that are currently covering the stock, MarketBeat Ratings reports. Twelve equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $57.00.

A number of research firms have commented on TECK. Veritas upgraded shares of Teck Resources from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 15th. Raymond James Financial cut shares of Teck Resources from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 14th. Weiss Ratings restated a “hold (c)” rating on shares of Teck Resources in a report on Wednesday, January 21st. Truist Financial set a $67.00 price target on shares of Teck Resources in a report on Monday, February 23rd. Finally, Zacks Research upgraded shares of Teck Resources from a “hold” rating to a “strong-buy” rating in a report on Monday, March 23rd.

Teck Resources Trading Up 0.0%

TECK opened at $52.86 on Tuesday. Teck Resources has a twelve month low of $28.32 and a twelve month high of $62.41. The company has a quick ratio of 1.91, a current ratio of 2.54 and a debt-to-equity ratio of 0.13. The company has a fifty day moving average of $54.40 and a 200-day moving average of $48.03. The stock has a market cap of $25.47 billion, a PE ratio of 26.17, a price-to-earnings-growth ratio of 2.76 and a beta of 0.85.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Thursday, February 19th. The basic materials company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.39. Teck Resources had a net margin of 12.98% and a return on equity of 5.90%. The company had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same period in the prior year, the company posted $0.45 earnings per share. Teck Resources’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, sell-side analysts predict that Teck Resources will post 1.53 EPS for the current year.

Teck Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Friday, March 13th. Teck Resources’s dividend payout ratio (DPR) is presently 18.32%.

Institutional Investors Weigh In On Teck Resources

Large investors have recently bought and sold shares of the stock. Brown Brothers Harriman & Co. acquired a new stake in Teck Resources in the fourth quarter worth $25,000. Versant Capital Management Inc acquired a new stake in Teck Resources in the third quarter worth $26,000. Smartleaf Asset Management LLC lifted its stake in shares of Teck Resources by 72.4% in the third quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock valued at $37,000 after buying an additional 351 shares in the last quarter. SouthState Bank Corp acquired a new position in shares of Teck Resources during the third quarter valued at about $50,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Teck Resources by 43.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,741 shares of the basic materials company’s stock valued at $76,000 after buying an additional 524 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Company Profile

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.