Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK - Equities researchers at B. Riley decreased their Q1 2024 earnings per share (EPS) estimates for Teck Resources in a research note issued to investors on Tuesday, April 16th. B. Riley analyst L. Pipes now anticipates that the basic materials company will post earnings of $0.50 per share for the quarter, down from their previous forecast of $0.70. The consensus estimate for Teck Resources' current full-year earnings is $3.51 per share. B. Riley also issued estimates for Teck Resources' Q2 2024 earnings at $0.35 EPS, Q3 2024 earnings at $0.47 EPS, Q4 2024 earnings at $0.28 EPS and FY2024 earnings at $1.59 EPS.
A number of other research analysts have also recently commented on the company. UBS Group initiated coverage on Teck Resources in a research note on Tuesday, January 16th. They set a "buy" rating on the stock. Benchmark increased their price objective on Teck Resources from $50.00 to $52.00 and gave the stock a "buy" rating in a research note on Monday, April 8th. JPMorgan Chase & Co. increased their price objective on Teck Resources from $44.00 to $50.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, Morgan Stanley reissued an "overweight" rating and issued a $55.00 price objective on shares of Teck Resources in a research note on Thursday, April 11th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $65.04.
Read Our Latest Stock Analysis on Teck Resources
Teck Resources Trading Up 1.1 %
Shares of TECK traded up $0.53 during mid-day trading on Thursday, reaching $47.73. 3,175,676 shares of the company's stock traded hands, compared to its average volume of 3,966,529. The stock has a market cap of $24.37 billion, a P/E ratio of 13.92, a P/E/G ratio of 6.49 and a beta of 1.15. The stock's 50-day moving average is $42.79 and its two-hundred day moving average is $40.12. Teck Resources has a 12 month low of $34.38 and a 12 month high of $50.46. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.10 and a quick ratio of 0.60.
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 EPS for the quarter, beating analysts' consensus estimates of $1.01 by $0.01. The firm had revenue of $3.02 billion for the quarter, compared to analysts' expectations of $3.11 billion. Teck Resources had a return on equity of 9.67% and a net margin of 16.21%.
Teck Resources Cuts Dividend
The business also recently announced 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 0.78%. Teck Resources's dividend payout ratio is currently 10.79%.
Institutional Trading of Teck Resources
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Teck Resources by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 16,431,096 shares of the basic materials company's stock valued at $694,542,000 after purchasing an additional 457,592 shares during the last quarter. FIL Ltd lifted its holdings in shares of Teck Resources by 98.8% during the 4th quarter. FIL Ltd now owns 11,937,233 shares of the basic materials company's stock valued at $504,588,000 after purchasing an additional 5,933,226 shares during the last quarter. Boston Partners lifted its holdings in shares of Teck Resources by 28.8% during the 4th quarter. Boston Partners now owns 10,881,781 shares of the basic materials company's stock valued at $484,995,000 after purchasing an additional 2,432,378 shares during the last quarter. Norges Bank acquired a new position in shares of Teck Resources in the 4th quarter valued at $291,283,000. Finally, Mackenzie Financial Corp increased its position in shares of Teck Resources by 45.7% in the 4th quarter. Mackenzie Financial Corp now owns 6,632,418 shares of the basic materials company's stock valued at $280,491,000 after acquiring an additional 2,080,295 shares during the period. Hedge funds and other institutional investors own 78.06% of the company's stock.
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.
Featured Articles
Before you consider Teck Resources, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Teck Resources wasn't on the list.
While Teck Resources currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
