Teck Resources Limited (NYSE:TECK) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) have earned a consensus rating of “Moderate Buy” from the ten ratings firms that are covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $65.29.

A number of research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft downgraded Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a report on Friday, October 25th. StockNews.com raised shares of Teck Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Paradigm Capital raised Teck Resources to a “moderate buy” rating in a research report on Friday, July 26th. UBS Group cut Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. Finally, Citigroup raised shares of Teck Resources to a “hold” rating in a research note on Wednesday, October 2nd.

Teck Resources Stock Performance

Shares of Teck Resources stock opened at $46.65 on Friday. 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 52 week low of $35.25 and a 52 week high of $55.13. The firm has a fifty day moving average of $48.87 and a two-hundred day moving average of $48.61. The stock has a market capitalization of $23.47 billion, a price-to-earnings ratio of 70.68 and a beta of 1.04.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.24. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same period in the prior year, the business posted $0.57 EPS. Teck Resources’s revenue was down 20.6% on a year-over-year basis. As a group, equities research analysts predict that Teck Resources will post 1.84 EPS for the current year.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a $0.0895 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Friday, December 13th. Teck Resources’s payout ratio is currently 56.06%.

Institutional Investors Weigh In On Teck Resources

Large investors have recently bought and sold shares of the company. Eastern Bank acquired a new position in Teck Resources during the third quarter valued at approximately $39,000. Headlands Technologies LLC bought a new position in shares of Teck Resources in the 2nd quarter valued at $38,000. Bruce G. Allen Investments LLC raised its holdings in shares of Teck Resources by 77.4% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock worth $46,000 after buying an additional 383 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in Teck Resources by 69.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 409 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in Teck Resources by 583.1% during the second quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock worth $48,000 after acquiring an additional 898 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

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.