Teck Resources Ltd (NYSE:TECK) Receives Average Rating of "Hold" from Analysts

Key Points

• Analysts rate Teck Resources “Hold” on average: Seven of 13 analysts recommend holding the stock, while six recommend buying it. The average 12-month price target is $62.25, below the reported share price of $66.76.
• Recent financial results exceeded expectations: Teck reported quarterly earnings of $1.35 per share versus the $0.95 consensus estimate, while revenue rose 78.2% year over year to $2.54 billion.
• Institutional ownership remains strong: Institutional investors own 78.06% of the company, with HBK Investments increasing its holdings by 264.2% during the second quarter. Teck also declared a quarterly dividend of $0.125 per share, equivalent to a 0.7% annual yield.

Shares of Teck Resources Ltd (NYSE:TECK - Get Free Report) TSE: TECK have received an average recommendation of "Hold" from the thirteen research firms that are presently covering the firm, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $62.25.

Several research firms have recently commented on TECK. Raymond James Financial raised shares of Teck Resources from a "market perform" rating to an "outperform" rating in a research note on Thursday, July 23rd. Weiss Ratings raised Teck Resources from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft increased their price objective on Teck Resources from $64.00 to $68.00 and gave the company a "buy" rating in a research report on Thursday, July 2nd. Veritas downgraded Teck Resources from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 4th. Finally, JPMorgan Chase & Co. raised their price target on Teck Resources from $46.00 to $47.00 and gave the company a "neutral" rating in a report on Tuesday, July 28th.

Institutional Investors Weigh In On Teck Resources

A number of institutional investors and hedge funds have recently modified their holdings of TECK. HBK Investments L P lifted its holdings in Teck Resources by 264.2% in the second quarter. HBK Investments L P now owns 5,773,121 shares of the basic materials company's stock valued at $343,270,000 after buying an additional 4,188,029 shares during the period. Sequoia Financial Advisors LLC raised its position in shares of Teck Resources by 13.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 16,451 shares of the basic materials company's stock valued at $978,000 after acquiring an additional 1,920 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of Teck Resources by 9.0% in the 2nd quarter. Tidal Investments LLC now owns 166,945 shares of the basic materials company's stock valued at $9,789,000 after purchasing an additional 13,811 shares during the period. RFG Advisory LLC bought a new position in shares of Teck Resources in the 2nd quarter worth $207,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Teck Resources during the second quarter worth $7,952,000. 78.06% of the stock is owned by institutional investors.

Teck Resources Trading Up 1.9%

Shares of TECK opened at $66.76 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.33 and a current ratio of 3.12. The company has a market cap of $32.24 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 2.03 and a beta of 0.94. The stock has a fifty day moving average price of $64.52 and a two-hundred day moving average price of $60.60. Teck Resources has a 52-week low of $38.00 and a 52-week high of $72.56.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its earnings results on Thursday, July 23rd. The basic materials company reported $1.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.95 by $0.40. The company had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.38 billion. Teck Resources had a return on equity of 10.42% and a net margin of 17.85%.The firm's quarterly revenue was up 78.2% compared to the same quarter last year. During the same period last year, the company posted $0.38 earnings per share. Analysts predict that Teck Resources will post 4.03 EPS for the current fiscal year.

Teck Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Teck Resources's dividend payout ratio (DPR) is 9.76%.

Teck Resources Company Profile

Teck Resources Limited is a Canadian mining and metals company focused primarily on the exploration, development and production of base metals. Its principal products include copper, zinc and lead, along with associated by-products such as molybdenum, silver and germanium. Copper is an increasingly important part of Teck's business as the metal is used in electrical infrastructure, renewable energy systems, transportation and industrial applications.

Teck operates and develops mining assets in Canada, Chile and Peru.

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