Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK - Raymond James raised their Q2 2024 earnings per share estimates for Teck Resources in a research report issued on Thursday, April 25th. Raymond James analyst B. Macarthur now forecasts that the basic materials company will post earnings of $0.69 per share for the quarter, up from their previous estimate of $0.64. The consensus estimate for Teck Resources' current full-year earnings is $2.87 per share. Raymond James also issued estimates for Teck Resources' Q4 2024 earnings at $0.41 EPS, Q1 2025 earnings at $0.37 EPS, Q2 2025 earnings at $0.39 EPS, Q3 2025 earnings at $0.41 EPS, Q4 2025 earnings at $0.42 EPS and FY2025 earnings at $1.58 EPS.
Several other research firms have also commented on TECK. UBS Group initiated coverage on shares of Teck Resources in a research note on Tuesday, January 16th. They set a "buy" rating for the company. JPMorgan Chase & Co. raised 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. Benchmark lifted their price target on shares of Teck Resources from $50.00 to $52.00 and gave the stock a "buy" rating in a report on Monday, April 8th. Finally, Morgan Stanley restated an "overweight" rating and set a $55.00 price objective on shares of Teck Resources in a report on Thursday, April 11th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $57.86.
Read Our Latest Report on Teck Resources
Teck Resources Price Performance
Shares of Teck Resources stock traded up $0.69 on Monday, hitting $51.07. 4,139,685 shares of the company traded hands, compared to its average volume of 4,094,332. The stock has a market capitalization of $26.07 billion, a P/E ratio of 22.29, a price-to-earnings-growth ratio of 8.48 and a beta of 1.15. The business has a 50-day simple moving average of $43.94 and a 200 day simple moving average of $40.39. 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 has a 52 week low of $34.38 and a 52 week high of $51.65.
Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its quarterly 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 business 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 7.52% and a net margin of 10.59%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wealthsource Partners LLC boosted its holdings in Teck Resources by 4.0% in the third quarter. Wealthsource Partners LLC now owns 7,747 shares of the basic materials company's stock valued at $334,000 after acquiring an additional 300 shares during the last quarter. First Hawaiian Bank raised its holdings in Teck Resources by 6.0% in the first quarter. First Hawaiian Bank now owns 5,552 shares of the basic materials company's stock valued at $254,000 after acquiring an additional 313 shares in the last quarter. Verdence Capital Advisors LLC boosted its stake in Teck Resources by 3.3% during the 1st quarter. Verdence Capital Advisors LLC now owns 10,981 shares of the basic materials company's stock valued at $503,000 after acquiring an additional 353 shares during the last quarter. Shell Asset Management Co. increased its position in shares of Teck Resources by 2.9% in the 3rd quarter. Shell Asset Management Co. now owns 13,649 shares of the basic materials company's stock worth $590,000 after purchasing an additional 386 shares during the last quarter. Finally, Hexagon Capital Partners LLC raised its stake in shares of Teck Resources by 143.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company's stock valued at $30,000 after purchasing an additional 386 shares in the last quarter. Institutional investors and hedge funds own 78.06% of the company's stock.
Teck Resources Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 17th will be paid a $0.0911 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.36 annualized dividend and a yield of 0.71%. Teck Resources's dividend payout ratio is currently 16.37%.
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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