Teck Resources Limited (NYSE:TECK) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) have been assigned a consensus rating of “Moderate Buy” from the eleven ratings firms that are covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $65.29.

TECK has been the topic of several research reports. UBS Group cut Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Citigroup upgraded shares of Teck Resources to a “hold” rating in a report on Wednesday, October 2nd. StockNews.com raised Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. National Bank Financial downgraded Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday. Finally, Scotiabank increased their price target on Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a report on Tuesday, October 8th.

Institutional Investors Weigh In On Teck Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new position in shares of Teck Resources in the 2nd quarter worth approximately $38,000. Eastern Bank bought a new stake in Teck Resources during the third quarter worth $39,000. Wilmington Savings Fund Society FSB purchased a new position in Teck Resources in the third quarter worth $40,000. Bruce G. Allen Investments LLC boosted its position in Teck Resources by 77.4% in the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 383 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in Teck Resources by 583.1% in the 2nd quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 898 shares during the period. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Stock Down 2.8 %

Shares of NYSE TECK opened at $45.49 on Wednesday. The stock has a market capitalization of $23.30 billion, a P/E ratio of 68.92 and a beta of 1.03. The stock’s fifty day moving average is $47.97 and its 200 day moving average is $48.06. Teck Resources has a 52 week low of $36.50 and a 52 week high of $55.13. 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 (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.24. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.09 billion. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The company’s revenue for the quarter was down 20.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.57 EPS. Sell-side analysts forecast that Teck Resources will post 1.82 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a dividend of $0.0895 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date is Friday, December 13th. Teck Resources’s dividend payout ratio is 56.06%.

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.