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

Shares of Teck Resources Limited (NYSE:TECK - Get Free Report) TSE: TECK have been assigned a consensus rating of "Moderate Buy" from the sixteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $64.11.

A number of research analysts have issued reports on TECK shares. National Bank Financial upgraded shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. Bank of America boosted their price target on shares of Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. Desjardins assumed coverage on shares of Teck Resources in a research note on Friday, April 4th. They set a "buy" rating for the company. National Bankshares raised shares of Teck Resources from a "sector perform" rating to an "outperform" rating in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. reduced their price target 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.

Teck Resources Price Performance

Shares of Teck Resources stock traded up $0.01 during midday trading on Wednesday, reaching $38.61. The company had a trading volume of 3,077,220 shares, compared to its average volume of 3,149,805. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The stock has a fifty day simple moving average of $35.01 and a 200 day simple moving average of $39.76. Teck Resources has a 1-year low of $28.32 and a 1-year high of $54.13. The company has a market capitalization of $18.89 billion, a price-to-earnings ratio of 70.20 and a beta of 0.79.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its earnings results on Thursday, April 24th. The basic materials company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.18. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $2.19 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The firm's quarterly revenue was up 41.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.75 earnings per share. As a group, equities research analysts forecast that Teck Resources will post 1.53 earnings per share for the current year.

Teck Resources Increases Dividend

The firm also recently disclosed 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. The ex-dividend date is Monday, June 16th. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. This represents a $0.36 annualized dividend and a dividend yield of 0.93%. Teck Resources's payout ratio is currently 58.62%.

Institutional Trading of Teck Resources

Several hedge funds have recently bought and sold shares of the stock. Stonebridge Financial Group LLC bought a new stake in shares of Teck Resources during the fourth quarter worth $25,000. FPC Investment Advisory Inc. bought a new stake in Teck Resources in the 4th quarter valued at $27,000. Smartleaf Asset Management LLC lifted its position in Teck Resources by 69.2% in the 1st quarter. Smartleaf Asset Management LLC now owns 856 shares of the basic materials company's stock valued at $32,000 after acquiring an additional 350 shares in the last quarter. Community Bank N.A. bought a new stake in Teck Resources in the 4th quarter valued at $33,000. Finally, Costello Asset Management INC bought a new stake in shares of Teck Resources in the first quarter valued at about $33,000. 78.06% of the stock is currently owned by institutional investors and hedge funds.

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.