Teck Resources Limited (NYSE:TECK - Get Free Report) TSE: TECK's share price reached a new 52-week high during mid-day trading on Tuesday after Benchmark raised their price target on the stock from $50.00 to $52.00. Benchmark currently has a buy rating on the stock. Teck Resources traded as high as $49.34 and last traded at $49.24, with a volume of 4894672 shares. The stock had previously closed at $46.96.
TECK has been the subject of several other research reports. StockNews.com assumed coverage on shares of Teck Resources in a research note on Monday, December 11th. They set a "hold" rating for the company. UBS Group assumed coverage on shares of Teck Resources in a research note on Tuesday, January 16th. They set a "buy" rating for the company. Finally, Morgan Stanley lowered their target price on shares of Teck Resources from $45.00 to $44.00 and set an "overweight" rating for the company in a research note on Monday, February 26th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Teck Resources currently has a consensus rating of "Moderate Buy" and an average price target of $64.29.
Read Our Latest Stock Analysis on TECK
Institutional Trading of Teck Resources
Several hedge funds have recently made changes to their positions in the business. Norges Bank acquired a new stake in Teck Resources in the fourth quarter valued at approximately $291,283,000. FIL Ltd raised its holdings in Teck Resources by 98.8% in the fourth quarter. FIL Ltd now owns 11,937,233 shares of the basic materials company's stock valued at $504,588,000 after acquiring an additional 5,933,226 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Teck Resources by 1,833.3% in the second quarter. Alliancebernstein L.P. now owns 3,234,380 shares of the basic materials company's stock valued at $136,167,000 after acquiring an additional 3,067,080 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Teck Resources by 16,855.2% in the fourth quarter. Principal Financial Group Inc. now owns 2,640,100 shares of the basic materials company's stock valued at $112,143,000 after acquiring an additional 2,624,529 shares in the last quarter. Finally, Boston Partners raised its holdings in Teck Resources by 28.8% in the fourth quarter. Boston Partners now owns 10,881,781 shares of the basic materials company's stock valued at $484,995,000 after acquiring an additional 2,432,378 shares in the last quarter. Institutional investors and hedge funds own 78.06% of the company's stock.
Teck Resources Trading Up 4.6 %
The company's fifty day moving average is $41.55 and its two-hundred day moving average is $39.78. The stock has a market cap of $25.09 billion, a price-to-earnings ratio of 14.33, a PEG ratio of 5.75 and a beta of 1.15. The company has a quick ratio of 0.60, a current ratio of 1.10 and a debt-to-equity ratio of 0.21.
Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share for the quarter, topping analysts' consensus estimates of $1.01 by $0.01. Teck Resources had a net margin of 16.21% and a return on equity of 9.67%. The company had revenue of $3.02 billion for the quarter, compared to analysts' expectations of $3.11 billion. On average, research analysts predict that Teck Resources Limited will post 3.93 EPS for the current fiscal year.
Teck Resources Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $0.0925 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.37 dividend on an annualized basis and a yield of 0.75%. Teck Resources's payout ratio is currently 10.79%.
About Teck Resources
(
Get Free Report)
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.
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