Teck Resources (NYSE:TECK) Reaches New 12-Month High at $53.03

Teck Resources Limited (NYSE:TECK - Get Free Report) TSE: TECK's stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $53.03 and last traded at $51.99, with a volume of 372093 shares changing hands. The stock had previously closed at $52.54.

Analyst Ratings Changes

A number of brokerages have weighed in on TECK. UBS Group started coverage on Teck Resources in a research report on Tuesday, January 16th. They issued a "buy" rating for the company. Morgan Stanley restated an "overweight" rating and issued a $55.00 target price on shares of Teck Resources in a report on Thursday, April 11th. Benchmark boosted their target price on shares of Teck Resources from $50.00 to $52.00 and gave the company a "buy" rating in a research note on Monday, April 8th. Finally, JPMorgan Chase & Co. upped their price objective on Teck Resources from $44.00 to $50.00 and gave the company an "overweight" rating in a research report on Wednesday, April 17th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $57.86.

Teck Resources Trading Down 0.7 %

The stock has a 50-day moving average price of $46.74 and a two-hundred day moving average price of $41.39. The stock has a market capitalization of $26.67 billion, a PE ratio of 23.11, a PEG ratio of 11.41 and a beta of 1.12. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 1.49.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $1.02 EPS for the quarter, beating the consensus estimate of $1.01 by $0.01. The firm had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.11 billion. Teck Resources had a net margin of 10.59% and a return on equity of 7.52%. As a group, equities analysts forecast that Teck Resources Limited will post 2.18 earnings per share for the current year.

Teck Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be paid a $0.0911 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Monday, June 17th. Teck Resources's dividend payout ratio (DPR) is 16.37%.

Institutional Investors Weigh In On Teck Resources

Several institutional investors and hedge funds have recently modified their holdings of TECK. Ninety One SA PTY Ltd grew its holdings in Teck Resources by 45.1% during the 4th quarter. Ninety One SA PTY Ltd now owns 147,093 shares of the basic materials company's stock valued at $6,236,000 after buying an additional 45,750 shares in the last quarter. Mackenzie Financial Corp grew its position in Teck Resources by 45.7% in the fourth quarter. Mackenzie Financial Corp now owns 6,632,418 shares of the basic materials company's stock worth $280,491,000 after acquiring an additional 2,080,295 shares in the last quarter. AGF Management Ltd. grew its holdings in Teck Resources by 13.4% during the 4th quarter. AGF Management Ltd. now owns 136,376 shares of the basic materials company's stock valued at $5,785,000 after purchasing an additional 16,141 shares during the last quarter. Douglas Lane & Associates LLC grew its stake in shares of Teck Resources by 54.3% during the fourth quarter. Douglas Lane & Associates LLC now owns 663,366 shares of the basic materials company's stock valued at $28,040,000 after buying an additional 233,361 shares during the last quarter. Finally, Pantechnicon Advisors LLP increased its stake in Teck Resources by 40.1% in the third quarter. Pantechnicon Advisors LLP now owns 465,000 shares of the basic materials company's stock worth $20,037,000 after purchasing an additional 133,000 shares during the period. Institutional investors own 78.06% of the company's stock.

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.