Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK - Raymond James dropped their Q4 2024 earnings estimates for shares of Teck Resources in a report released on Tuesday, April 9th. Raymond James analyst B. Macarthur now anticipates that the basic materials company will post earnings of $0.29 per share for the quarter, down from their previous estimate of $0.34. The consensus estimate for Teck Resources' current full-year earnings is $3.77 per share.
Other analysts have also recently issued reports about the stock. UBS Group started coverage on shares of Teck Resources in a research report on Tuesday, January 16th. They set a "buy" rating for the company. Morgan Stanley reiterated an "overweight" rating and issued a $55.00 price objective on shares of Teck Resources in a report on Thursday. Finally, Benchmark boosted their price objective on shares of Teck Resources from $50.00 to $52.00 and gave the stock a "buy" rating in a report on Monday. Two investment 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 $65.21.
View Our Latest Stock Report on TECK
Teck Resources Stock Down 1.6 %
Teck Resources stock traded down $0.81 during trading on Thursday, reaching $48.57. 4,055,427 shares of the company's stock were exchanged, compared to its average volume of 3,941,193. The company's 50-day moving average is $41.90 and its two-hundred day moving average is $39.91. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.60 and a current ratio of 1.10. Teck Resources has a 52-week low of $34.38 and a 52-week high of $50.30. The firm has a market cap of $24.79 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 6.02 and a beta of 1.15.
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 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.02 billion during the quarter, compared to analysts' expectations of $3.11 billion.
Institutional Investors Weigh In On Teck Resources
A number of institutional investors have recently modified their holdings of TECK. Money Concepts Capital Corp bought a new position in Teck Resources in the 4th quarter worth about $29,000. Baystate Wealth Management LLC bought a new position in shares of Teck Resources in the third quarter valued at approximately $31,000. Creekmur Asset Management LLC bought a new position in shares of Teck Resources in the fourth quarter valued at approximately $35,000. JFS Wealth Advisors LLC boosted its holdings in shares of Teck Resources by 249.0% in the third quarter. JFS Wealth Advisors LLC now owns 841 shares of the basic materials company's stock valued at $36,000 after acquiring an additional 600 shares in the last quarter. Finally, Achmea Investment Management B.V. acquired a new stake in Teck Resources during the first quarter valued at approximately $37,000. Institutional investors own 78.06% of the company's stock.
Teck Resources Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $0.0925 per share. This represents a $0.37 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend was Thursday, March 14th. Teck Resources's dividend payout ratio is presently 10.79%.
Teck Resources Company Profile
(
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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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