Teck Resources Limited (NYSE:TECK) Receives Average Rating of "Moderate Buy" from Analysts

Teck Resources Limited (NYSE:TECK - Get Free Report) TSE: TECK has received a consensus recommendation of "Moderate Buy" from the sixteen research firms that are presently covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $64.11.

A number of analysts have recently weighed in on TECK shares. JPMorgan Chase & Co. cut their price objective on Teck Resources from $50.00 to $41.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. UBS Group restated a "neutral" rating on shares of Teck Resources in a report on Tuesday, April 15th. Desjardins initiated coverage on Teck Resources in a research report on Friday, April 4th. They issued a "buy" rating on the stock. BMO Capital Markets started coverage on Teck Resources in a research report on Wednesday, April 16th. They set an "outperform" rating for the company. Finally, National Bank Financial upgraded shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th.

Teck Resources Trading Up 3.5%

Shares of TECK traded up $1.30 during trading on Wednesday, reaching $38.57. 4,244,115 shares of the company traded hands, compared to its average volume of 3,543,904. The stock has a 50-day simple moving average of $34.93 and a 200-day simple moving average of $39.88. The stock has a market cap of $18.87 billion, a PE ratio of 70.13 and a beta of 0.79. Teck Resources has a twelve month low of $28.32 and a twelve month high of $54.13. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its quarterly earnings data on Thursday, April 24th. The basic materials company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.24 by $0.18. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $2.19 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The business's revenue for the quarter was up 41.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.75 earnings per share. On average, analysts anticipate that Teck Resources will post 1.53 earnings per share for the current year.

Teck Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a $0.0901 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.93%. This is an increase from Teck Resources's previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Monday, June 16th. Teck Resources's dividend payout ratio (DPR) is 58.62%.

Institutional Trading of Teck Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Impala Asset Management LLC purchased a new position in Teck Resources during the 1st quarter worth approximately $15,811,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Teck Resources by 1.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 465,861 shares of the basic materials company's stock worth $16,971,000 after acquiring an additional 8,146 shares during the last quarter. Caxton Associates LLP acquired a new position in shares of Teck Resources in the 1st quarter valued at $36,121,000. Sciencast Management LP acquired a new position in shares of Teck Resources in the 1st quarter valued at $2,587,000. Finally, Jones Financial Companies Lllp raised its position in Teck Resources by 453.0% in the 1st quarter. Jones Financial Companies Lllp now owns 9,721 shares of the basic materials company's stock valued at $354,000 after purchasing an additional 7,963 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company's stock.

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.