Teck Resources (NYSE:TECK) Price Target Increased to $52.00 by Analysts at Benchmark

Teck Resources (NYSE:TECK - Free Report) TSE: TECK had its price objective hoisted by Benchmark from $50.00 to $52.00 in a research note published on Monday, Benzinga reports. The brokerage currently has a buy rating on the basic materials company's stock.

TECK has been the subject of a number of other reports. Morgan Stanley reduced their price objective on shares of Teck Resources from $45.00 to $44.00 and set an overweight rating for the company in a report on Monday, February 26th. UBS Group began coverage on shares of Teck Resources in a report on Tuesday, January 16th. They set a buy rating for the company. Finally, StockNews.com began coverage on shares of Teck Resources in a report on Monday, December 11th. They set a hold rating for the company. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $64.29.

Teck Resources Stock Performance

Shares of NYSE TECK traded up $0.23 during trading hours on Monday, hitting $46.96. 3,213,820 shares of the stock were exchanged, compared to its average volume of 3,875,651. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.10 and a quick ratio of 0.60. The company's 50 day moving average is $41.38 and its 200 day moving average is $39.72. The firm has a market capitalization of $23.97 billion, a P/E ratio of 13.69, a P/E/G ratio of 5.75 and a beta of 1.15. Teck Resources has a one year low of $34.38 and a one year high of $49.34.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its quarterly earnings results 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. Teck Resources had a net margin of 16.21% and a return on equity of 9.67%. The firm had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $3.11 billion. On average, research analysts expect that Teck Resources will post 3.93 EPS for the current year.

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a $0.0925 dividend. This represents a $0.37 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend was Thursday, March 14th. Teck Resources's payout ratio is presently 10.79%.

Institutional Investors Weigh In On Teck Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Douglas Lane & Associates LLC boosted 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 boosted 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. Caisse DE Depot ET Placement DU Quebec boosted its stake in Teck Resources by 29.3% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,303,700 shares of the basic materials company's stock worth $56,372,000 after acquiring an additional 295,700 shares during the last quarter. Schechter Investment Advisors LLC boosted its stake in Teck Resources by 17.7% during the 4th quarter. Schechter Investment Advisors LLC now owns 11,113 shares of the basic materials company's stock worth $470,000 after acquiring an additional 1,670 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in Teck Resources by 7.1% during the 3rd quarter. Hsbc Holdings PLC now owns 306,056 shares of the basic materials company's stock worth $13,181,000 after acquiring an additional 20,283 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company's stock.

About Teck Resources

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.