Teck Resources Ltd (NYSE:TECK) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Teck Resources has a consensus “Hold” rating from 13 brokerages, with seven holds and six buys. Analysts’ average 12-month price target is $62.25.
• The company reported quarterly EPS of $1.35, beating estimates of $0.95, while revenue rose 78.2% year over year to $2.54 billion.
• Institutional investors own 78.06% of Teck Resources, and the company declared a quarterly dividend of $0.125 per share, equivalent to a 0.7% annual yield.

Teck Resources Ltd (NYSE:TECK - Get Free Report) TSE: TECK has been assigned an average recommendation of "Hold" from the thirteen brokerages that are covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $62.25.

A number of research firms have recently commented on TECK. Wall Street Zen cut Teck Resources from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 26th. Weiss Ratings upgraded Teck Resources from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, August 4th. Veritas lowered Teck Resources from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 4th. Scotiabank restated a "sector perform" rating on shares of Teck Resources in a report on Monday, June 15th. Finally, Raymond James Financial raised shares of Teck Resources from a "market perform" rating to an "outperform" rating in a research report on Thursday, July 23rd.

Hedge Funds Weigh In On Teck Resources

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Brown Brothers Harriman & Co. bought a new stake in shares of Teck Resources in the 4th quarter worth approximately $25,000. Blue Trust Inc. increased its position in Teck Resources by 411.8% during the 1st quarter. Blue Trust Inc. now owns 563 shares of the basic materials company's stock valued at $29,000 after buying an additional 453 shares in the last quarter. Geneos Wealth Management Inc. increased its position in Teck Resources by 117.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 561 shares of the basic materials company's stock valued at $29,000 after buying an additional 303 shares in the last quarter. Oslo Pensjonsforsikring AS purchased a new position in Teck Resources during the first quarter valued at $83,000. Finally, Versant Capital Management Inc raised its stake in Teck Resources by 86.5% during the second quarter. Versant Capital Management Inc now owns 1,587 shares of the basic materials company's stock valued at $94,000 after buying an additional 736 shares during the last quarter. Institutional investors own 78.06% of the company's stock.

Teck Resources Price Performance

TECK stock opened at $70.56 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.12 and a quick ratio of 2.33. Teck Resources has a 1 year low of $31.68 and a 1 year high of $71.93. The firm has a 50-day moving average of $61.87 and a 200 day moving average of $59.59. The company has a market cap of $34.08 billion, a P/E ratio of 19.12, a PEG ratio of 2.56 and a beta of 0.92.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.40. Teck Resources had a return on equity of 10.42% and a net margin of 17.85%.The business had revenue of $2.54 billion for the quarter, compared to analysts' expectations of $2.38 billion. During the same period in the previous year, the firm posted $0.38 EPS. The business's revenue was up 78.2% on a year-over-year basis. On average, sell-side analysts forecast that Teck Resources will post 3.48 EPS for the current year.

Teck Resources Dividend Announcement

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

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.

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