Brokerages Set Teck Resources Limited (NYSE:TECK) PT at $64.11

Teck Resources Limited (NYSE:TECK - Get Free Report) TSE: TECK has earned an average recommendation of "Moderate Buy" from the sixteen research firms that are currently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $64.11.

TECK has been the topic of several recent research reports. JPMorgan Chase & Co. decreased their price target on Teck Resources from $50.00 to $41.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. National Bankshares upgraded Teck Resources from a "sector perform" rating to an "outperform" rating in a report on Thursday, April 24th. Bank of America raised their price target on Teck Resources from $62.00 to $64.00 and gave the company a "buy" rating in a report on Monday, March 10th. Raymond James decreased their price target on Teck Resources from $75.00 to $70.00 and set an "outperform" rating on the stock in a report on Wednesday, January 22nd. Finally, National Bank Financial raised Teck Resources from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th.

Teck Resources Price Performance

Teck Resources stock traded down $0.80 during mid-day trading on Friday, hitting $36.30. 1,063,195 shares of the company were exchanged, compared to its average volume of 3,141,929. The company has a market capitalization of $17.89 billion, a PE ratio of 66.04 and a beta of 0.79. The business has a fifty day moving average of $36.17 and a 200 day moving average of $40.98. Teck Resources has a 1-year low of $28.32 and a 1-year high of $55.13. 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 announced its earnings results on Thursday, April 24th. The basic materials company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.24 by $0.18. The company had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $2.19 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The business's revenue for the quarter was up 41.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.75 earnings per share. As a group, sell-side analysts expect that Teck Resources will post 1.53 earnings per share for the current year.

Teck Resources Increases Dividend

The company 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 yield of 0.99%. The ex-dividend date is Monday, June 16th. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's dividend payout ratio (DPR) is currently 58.62%.

Institutional Investors Weigh In On Teck Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Teck Resources by 1.1% in the first quarter. Vanguard Group Inc. now owns 19,531,542 shares of the basic materials company's stock valued at $711,475,000 after purchasing an additional 215,410 shares in the last quarter. Amundi grew its stake in Teck Resources by 5.6% in the fourth quarter. Amundi now owns 14,949,233 shares of the basic materials company's stock valued at $619,765,000 after purchasing an additional 791,725 shares in the last quarter. Norges Bank bought a new position in Teck Resources in the fourth quarter valued at approximately $470,101,000. Principal Financial Group Inc. grew its stake in Teck Resources by 56.9% in the first quarter. Principal Financial Group Inc. now owns 11,530,742 shares of the basic materials company's stock valued at $419,970,000 after purchasing an additional 4,180,623 shares in the last quarter. Finally, Boston Partners grew its stake in Teck Resources by 1.9% in the first quarter. Boston Partners now owns 9,251,775 shares of the basic materials company's stock valued at $337,042,000 after purchasing an additional 173,203 shares in 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.