Teck Resources (NYSE:TECK) Reaches New 1-Year High at $50.93

Teck Resources Limited (NYSE:TECK - Get Free Report) TSE: TECK's stock price reached a new 52-week high on Friday . The stock traded as high as $50.93 and last traded at $50.46, with a volume of 896570 shares trading hands. The stock had previously closed at $49.54.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on TECK shares. Benchmark raised their target price on shares of Teck Resources from $50.00 to $52.00 and gave the company a "buy" rating in a report on Monday, April 8th. Morgan Stanley restated an "overweight" rating and set a $55.00 target price on shares of Teck Resources in a report on Thursday, April 11th. JPMorgan Chase & Co. raised their target price on shares of Teck Resources from $44.00 to $50.00 and gave the company an "overweight" rating in a report on Wednesday, April 17th. Finally, UBS Group started coverage on shares of Teck Resources in a report on Tuesday, January 16th. They set a "buy" rating for the company. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Teck Resources currently has an average rating of "Moderate Buy" and a consensus target price of $62.80.

Teck Resources Price Performance

The company's 50-day moving average is $43.71 and its 200-day moving average is $40.34. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.10 and a quick ratio of 0.60. The firm has a market capitalization of $25.72 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 6.57 and a beta of 1.15.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its earnings results on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.01. Teck Resources had a net margin of 16.21% and a return on equity of 9.67%. The business had revenue of $3.02 billion for the quarter, compared to analysts' expectations of $3.11 billion. On average, research analysts expect that Teck Resources Limited will post 3.34 earnings per share for the current year.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a $0.0925 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.37 annualized dividend and a dividend yield of 0.73%. Teck Resources's dividend payout ratio is presently 10.50%.

Institutional Investors Weigh In On Teck Resources

Hedge funds have recently modified their holdings of the stock. Verdence Capital Advisors LLC lifted its position in Teck Resources by 3.3% during the first quarter. Verdence Capital Advisors LLC now owns 10,981 shares of the basic materials company's stock valued at $503,000 after buying an additional 353 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Teck Resources by 0.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 193,168 shares of the basic materials company's stock valued at $8,850,000 after buying an additional 1,734 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Teck Resources by 3.2% during the first quarter. Assenagon Asset Management S.A. now owns 15,263 shares of the basic materials company's stock valued at $699,000 after buying an additional 470 shares in the last quarter. Mason & Associates Inc acquired a new position in Teck Resources during the first quarter valued at approximately $348,000. Finally, Raymond James & Associates lifted its position in Teck Resources by 1.1% during the first quarter. Raymond James & Associates now owns 315,825 shares of the basic materials company's stock valued at $14,458,000 after buying an additional 3,485 shares in the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

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.