Teck Resources Ltd (NYSE:TECK) Stock Has Consensus Target Price of $75.25 According to Analysts

Key Points

• Analyst consensus on Teck Resources is “Hold”: Of 16 brokerages covering the stock, 10 rate it Hold and six rate it Buy; the average one-year price target is $75.25.
• TECK shares opened at $62.90, below the consensus target, and recently traded down 2.7%. The stock’s reported 52-week range is $38.00 to $72.56.
• Teck announced a quarterly dividend of C$0.12 per share, equivalent to about C$0.50 annually and a reported yield of 0.8%.

Shares of Teck Resources Ltd (NYSE:TECK - Get Free Report) TSE: TECK have been given a consensus recommendation of "Hold" by the sixteen brokerages that are currently covering the stock, Marketbeat.com reports. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $75.25.

Several analysts have recently weighed in on TECK shares. Weiss Ratings upgraded shares of Teck Resources from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, November 4th. Wall Street Zen lowered shares of Teck Resources from a "buy" rating to a "hold" rating in a research report on Saturday, October 31st. Scotia increased their price target on shares of Teck Resources from $83.00 to $88.00 and gave the stock a "sector perform" rating in a research report on Friday, October 30th. Canaccord Genuity Group cut their price target on shares of Teck Resources from $96.50 to $87.00 and set a "hold" rating for the company in a research note on Friday, October 30th. Finally, JPMorgan Chase & Co. lifted their price objective on Teck Resources from $47.00 to $63.00 and gave the company a "neutral" rating in a report on Friday, October 30th.

Teck Resources Stock Down 2.7%

Shares of TECK stock opened at $62.90 on Wednesday. Teck Resources has a one year low of $38.00 and a one year high of $72.56. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.80 and a quick ratio of 2.18. The stock has a fifty day moving average price of $65.09 and a 200 day moving average price of $60.83. The stock has a market cap of $30.40 billion, a P/E ratio of 11.25, a price-to-earnings-growth ratio of 1.98 and a beta of 1.01.

Teck Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 15th will be issued a C$0.12 dividend. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.8%. Teck Resources's dividend payout ratio is presently 6.44%.

Hedge Funds Weigh In On Teck Resources

Several institutional investors have recently added to or reduced their stakes in TECK. Private Advisor Group LLC acquired a new stake in Teck Resources during the 3rd quarter valued at $291,000. Boston Partners raised its position in Teck Resources by 10.6% in the 3rd quarter. Boston Partners now owns 4,179,114 shares of the basic materials company's stock valued at $274,944,000 after purchasing an additional 402,046 shares during the last quarter. HighTower Advisors LLC boosted its stake in Teck Resources by 274.7% in the third quarter. HighTower Advisors LLC now owns 58,708 shares of the basic materials company's stock worth $3,862,000 after purchasing an additional 43,041 shares in the last quarter. Intech Investment Management LLC boosted its stake in Teck Resources by 87.4% in the third quarter. Intech Investment Management LLC now owns 47,656 shares of the basic materials company's stock worth $3,145,000 after purchasing an additional 22,224 shares in the last quarter. Finally, Alberta Investment Management Corp boosted its stake in Teck Resources by 1.0% in the third quarter. Alberta Investment Management Corp now owns 890,870 shares of the basic materials company's stock worth $58,658,000 after purchasing an additional 8,830 shares in the last quarter. 78.06% of the stock is owned by institutional investors.

About Teck Resources

Teck Resources Limited is a Canadian mining company focused primarily on copper and zinc. Its activities include exploring, developing, mining, processing and marketing metals used in construction, manufacturing and other industrial applications. The company has operations and interests in Canada, the United States, Chile and Peru. Its portfolio includes copper mines and projects, zinc mining at the Red Dog operation in Alaska, and Trail Operations in British Columbia, which processes zinc and lead concentrates and produces refined metals and related products.

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