Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK - Equities research analysts at Raymond James lowered their Q1 2024 earnings per share (EPS) estimates for shares of Teck Resources in a research note issued to investors on Monday, April 22nd. Raymond James analyst B. Macarthur now anticipates that the basic materials company will post earnings of $0.47 per share for the quarter, down from their previous forecast of $0.49. The consensus estimate for Teck Resources' current full-year earnings is $3.33 per share.
Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share for the quarter, beating analysts' consensus estimates of $1.01 by $0.01. The business had revenue of $3.02 billion for the quarter, compared to analysts' expectations of $3.11 billion. Teck Resources had a net margin of 16.21% and a return on equity of 9.67%.
Several other equities research analysts have also recently commented on the company. Morgan Stanley reissued an "overweight" rating and set a $55.00 target price on shares of Teck Resources in a report on Thursday, April 11th. Benchmark upped their price objective on Teck Resources from $50.00 to $52.00 and gave the company a "buy" rating in a report on Monday, April 8th. JPMorgan Chase & Co. lifted their target price on Teck Resources from $44.00 to $50.00 and gave the stock 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 issued a "buy" rating for the company. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Teck Resources currently has a consensus rating of "Moderate Buy" and an average target price of $62.80.
View Our Latest Stock Report on TECK
Teck Resources Price Performance
Shares of TECK stock traded down $0.09 during midday trading on Wednesday, reaching $45.44. 3,641,127 shares of the company were exchanged, compared to its average volume of 3,997,562. The company's 50 day moving average price is $43.33 and its two-hundred day moving average price is $40.24. The company has a market cap of $23.20 billion, a P/E ratio of 13.27, a PEG ratio of 6.66 and a beta of 1.15. 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 quick ratio of 0.60 and a current ratio of 1.10.
Teck Resources Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a $0.0925 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.37 dividend on an annualized basis and a yield of 0.81%. Teck Resources's dividend payout ratio (DPR) is currently 10.79%.
Institutional Investors Weigh In On Teck Resources
Several institutional investors have recently made changes to their positions in TECK. Ninety One SA PTY Ltd raised its position in Teck Resources by 45.1% during the fourth quarter. Ninety One SA PTY Ltd now owns 147,093 shares of the basic materials company's stock valued at $6,236,000 after acquiring an additional 45,750 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of Teck Resources by 45.7% during 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 purchasing an additional 2,080,295 shares in the last quarter. Douglas Lane & Associates LLC lifted its stake in shares of Teck Resources by 54.3% in the 4th quarter. Douglas Lane & Associates LLC now owns 663,366 shares of the basic materials company's stock valued at $28,040,000 after purchasing an additional 233,361 shares during the last quarter. Pantechnicon Advisors LLP lifted its stake in shares of Teck Resources by 40.1% in the 3rd quarter. Pantechnicon Advisors LLP now owns 465,000 shares of the basic materials company's stock valued at $20,037,000 after purchasing an additional 133,000 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in Teck Resources by 4.6% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 120,841 shares of the basic materials company's stock worth $5,191,000 after purchasing an additional 5,304 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.
About Teck Resources
(
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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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