Analysts Set Teck Resources Limited (NYSE:TECK) PT at $50.00

Shares of Teck Resources Limited (NYSE:TECK - Get Free Report) TSE: TECK have been assigned an average rating of "Moderate Buy" from the eight brokerages that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $50.00.

TECK has been the topic of a number of research reports. Morgan Stanley reiterated an "overweight" rating and set a $55.00 target price on shares of Teck Resources in a research report on Thursday, April 11th. Benchmark upped their target price on shares of Teck Resources from $50.00 to $52.00 and gave the stock a "buy" rating in a research report on Monday, April 8th. UBS Group began coverage on shares of Teck Resources in a research report on Tuesday, January 16th. They set a "buy" rating on the stock. Finally, JPMorgan Chase & Co. increased their price objective on shares of Teck Resources from $44.00 to $50.00 and gave the company an "overweight" rating in a report on Wednesday, April 17th.

Institutional Investors Weigh In On Teck Resources

Several large investors have recently bought and sold shares of TECK. Van ECK Associates Corp increased its position in shares of Teck Resources by 92.6% during the first quarter. Van ECK Associates Corp now owns 792,647 shares of the basic materials company's stock worth $36,276,000 after acquiring an additional 381,148 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Teck Resources by 115.4% during the first quarter. Principal Financial Group Inc. now owns 5,687,670 shares of the basic materials company's stock worth $260,584,000 after acquiring an additional 3,047,570 shares in the last quarter. K.J. Harrison & Partners Inc increased its position in shares of Teck Resources by 7.9% during the first quarter. K.J. Harrison & Partners Inc now owns 192,125 shares of the basic materials company's stock worth $8,791,000 after acquiring an additional 14,120 shares in the last quarter. Verdence Capital Advisors LLC increased its position in shares of Teck Resources by 3.3% during the first quarter. Verdence Capital Advisors LLC now owns 10,981 shares of the basic materials company's stock worth $503,000 after acquiring an additional 353 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Teck Resources by 0.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 193,168 shares of the basic materials company's stock worth $8,850,000 after acquiring an additional 1,734 shares in the last quarter. Institutional investors own 78.06% of the company's stock.

Teck Resources Price Performance

Teck Resources stock traded down $1.88 during trading hours on Tuesday, hitting $49.19. 3,224,458 shares of the stock were exchanged, compared to its average volume of 4,084,174. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 1.49. The stock has a market capitalization of $25.11 billion, a P/E ratio of 21.77, a P/E/G ratio of 8.48 and a beta of 1.15. Teck Resources has a 12 month low of $34.38 and a 12 month high of $51.65. The business's 50-day moving average is $44.19 and its two-hundred day moving average is $40.48.

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, topping the consensus estimate 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 net margin of 10.59% and a return on equity of 7.52%. Equities research analysts expect that Teck Resources will post 2.87 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The company also recently announced 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. This represents a $0.36 annualized dividend and a yield of 0.74%. The ex-dividend date is Monday, June 17th. Teck Resources's payout ratio is presently 16.37%.

Teck Resources Company Profile

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.