Q4 EPS Estimates for Teck Resources Lowered by Raymond James

Teck Resources Limited (NYSE:TECK) (TSE:TECK) – Equities research analysts at Raymond James reduced their Q4 2024 earnings per share estimates for shares of Teck Resources in a report issued on Tuesday, January 21st. Raymond James analyst B. Macarthur now expects that the basic materials company will earn $0.30 per share for the quarter, down from their previous estimate of $0.48. Raymond James currently has a “Outperform” rating and a $70.00 target price on the stock. The consensus estimate for Teck Resources’ current full-year earnings is $1.69 per share. Raymond James also issued estimates for Teck Resources’ Q1 2025 earnings at $0.32 EPS, Q2 2025 earnings at $0.39 EPS, Q3 2025 earnings at $0.44 EPS, Q4 2025 earnings at $0.42 EPS and FY2025 earnings at $1.56 EPS.

Several other research analysts have also recently weighed in on the stock. Citigroup upgraded shares of Teck Resources to a “hold” rating in a research report on Wednesday, October 2nd. StockNews.com upgraded shares of Teck Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. cut their target price on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Scotiabank raised their price target on Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research report on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft lowered Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a research note on Friday, October 25th. Six analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Teck Resources has a consensus rating of “Moderate Buy” and an average target price of $65.38.

Teck Resources Price Performance

Shares of NYSE TECK opened at $43.39 on Friday. The stock’s 50-day simple moving average is $43.49 and its two-hundred day simple moving average is $46.43. Teck Resources has a twelve month low of $36.50 and a twelve month high of $55.13. The firm has a market capitalization of $21.64 billion, a P/E ratio of 65.74 and a beta of 1.05. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share 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 business had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the previous year, the firm earned $0.57 EPS. The company’s quarterly revenue was down 20.6% compared to the same quarter last year.

Institutional Trading of Teck Resources

Institutional investors have recently modified their holdings of the company. Daymark Wealth Partners LLC raised its position in Teck Resources by 2.8% during the 3rd quarter. Daymark Wealth Partners LLC now owns 8,774 shares of the basic materials company’s stock valued at $458,000 after purchasing an additional 242 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Teck Resources by 7.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 4,897 shares of the basic materials company’s stock valued at $198,000 after acquiring an additional 327 shares in the last quarter. OLD National Bancorp IN lifted its stake in Teck Resources by 7.4% in the fourth quarter. OLD National Bancorp IN now owns 4,955 shares of the basic materials company’s stock worth $201,000 after acquiring an additional 341 shares during the period. Evergreen Capital Management LLC boosted its holdings in Teck Resources by 7.8% in the second quarter. Evergreen Capital Management LLC now owns 5,064 shares of the basic materials company’s stock valued at $243,000 after acquiring an additional 365 shares in the last quarter. Finally, Bruce G. Allen Investments LLC increased its position in 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 valued at $46,000 after purchasing an additional 383 shares during the period. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Teck Resources Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were given a dividend of $0.0895 per share. The ex-dividend date was Friday, December 13th. This represents a $0.36 annualized dividend and a yield of 0.83%. Teck Resources’s payout ratio is currently 53.03%.

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.