Teck Resources FY2025 EPS Forecast Lowered by Stifel Canada

Key Points

• Stifel Canada has lowered its FY2025 earnings forecast for Teck Resources to $1.45 per share, down from a previous estimate of $1.51, maintaining a "Hold" rating on the stock.
• Teck Resources has recently been upgraded by some analysts, with a target price increase from $41.00 to $43.00 by JPMorgan Chase & Co. while several others downgraded or maintained their ratings.
• The company has announced a quarterly dividend increase, with a new payment of $0.0918 per share, reflecting an annualized yield of 0.8%.

Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK - Stifel Canada reduced their FY2025 earnings estimates for Teck Resources in a research report issued to clients and investors on Wednesday, October 8th. Stifel Canada analyst R. Profiti now expects that the basic materials company will earn $1.45 per share for the year, down from their previous forecast of $1.51. Stifel Canada has a "Hold" rating on the stock. The consensus estimate for Teck Resources' current full-year earnings is $1.53 per share. Stifel Canada also issued estimates for Teck Resources' FY2027 earnings at $1.01 EPS.

Several other research firms have also recently commented on TECK. JPMorgan Chase & Co. upped their target price on shares of Teck Resources from $41.00 to $43.00 and gave the stock a "neutral" rating in a research report on Thursday. Stifel Nicolaus assumed coverage on shares of Teck Resources in a research report on Wednesday, July 9th. They issued a "hold" rating for the company. Morgan Stanley cut shares of Teck Resources from an "overweight" rating to an "equal weight" rating and upped their target price for the stock from $42.00 to $44.00 in a research report on Tuesday, July 15th. Canaccord Genuity Group cut shares of Teck Resources from a "buy" rating to a "hold" rating in a research report on Wednesday. Finally, Wall Street Zen upgraded shares of Teck Resources from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $54.00.

Teck Resources Price Performance

NYSE TECK opened at $43.88 on Friday. Teck Resources has a 52 week low of $28.32 and a 52 week high of $51.58. The company has a current ratio of 3.47, a quick ratio of 2.45 and a debt-to-equity ratio of 0.15. The stock has a market cap of $21.08 billion, a price-to-earnings ratio of 115.48, a price-to-earnings-growth ratio of 0.54 and a beta of 0.92. The company has a 50-day moving average price of $36.84 and a two-hundred day moving average price of $36.63.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its quarterly earnings data on Thursday, July 24th. The basic materials company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.07. Teck Resources had a net margin of 2.51% and a return on equity of 3.91%. The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same quarter in the prior year, the business earned $0.79 earnings per share. Teck Resources's quarterly revenue was up 12.3% on a year-over-year basis.

Institutional Trading of Teck Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC lifted its stake in Teck Resources by 5.6% during the first quarter. Sequoia Financial Advisors LLC now owns 10,354 shares of the basic materials company's stock valued at $377,000 after purchasing an additional 545 shares during the last quarter. Golden State Wealth Management LLC lifted its stake in Teck Resources by 7,560.0% during the first quarter. Golden State Wealth Management LLC now owns 1,149 shares of the basic materials company's stock valued at $42,000 after purchasing an additional 1,134 shares during the last quarter. Cetera Investment Advisers lifted its stake in Teck Resources by 20.9% during the first quarter. Cetera Investment Advisers now owns 69,885 shares of the basic materials company's stock valued at $2,546,000 after purchasing an additional 12,092 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in Teck Resources by 22.6% during the first quarter. Oppenheimer Asset Management Inc. now owns 12,141 shares of the basic materials company's stock valued at $442,000 after purchasing an additional 2,240 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in Teck Resources by 1,611.2% during the first quarter. Wellington Management Group LLP now owns 751,146 shares of the basic materials company's stock valued at $27,358,000 after purchasing an additional 707,249 shares during the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Teck Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were issued a $0.0918 dividend. This represents a $0.37 annualized dividend and a dividend yield of 0.8%. This is a boost from Teck Resources's previous quarterly dividend of $0.09. The ex-dividend date was Monday, September 15th. Teck Resources's payout ratio is 94.74%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.