Teck Resources Ltd (NYSE:TECK) Given Average Rating of "Hold" by Analysts

Teck Resources Ltd (NYSE:TECK - Get Free Report) TSE: TECK has earned an average recommendation of "Hold" from the eighteen brokerages that are currently covering the company, MarketBeat reports. Eleven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $61.63.

A number of research firms have recently weighed in on TECK. Wall Street Zen raised Teck Resources from a "sell" rating to a "hold" rating in a research report on Saturday. Cibc World Mkts lowered Teck Resources from a "strong-buy" rating to a "hold" rating in a research report on Friday. Stifel Canada raised Teck Resources to a "hold" rating in a research report on Tuesday, July 8th. Stifel Nicolaus assumed coverage on Teck Resources in a report on Wednesday, July 9th. They issued a "hold" rating on the stock. Finally, Morgan Stanley lowered Teck Resources from an "overweight" rating to an "equal weight" rating and increased their target price for the company from $42.00 to $44.00 in a report on Tuesday, July 15th.

Teck Resources Trading Down 6.1%

NYSE TECK traded down $2.13 on Thursday, reaching $33.00. The stock had a trading volume of 12,487,636 shares, compared to its average volume of 4,345,001. Teck Resources has a 12-month low of $28.32 and a 12-month high of $54.13. The stock has a fifty day moving average price of $38.17 and a two-hundred day moving average price of $38.58. The company has a quick ratio of 2.57, a current ratio of 3.36 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $15.94 billion, a price-to-earnings ratio of 86.83, a P/E/G ratio of 0.56 and a beta of 0.80.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its quarterly earnings data on Thursday, July 24th. The basic materials company reported $0.27 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.07. Teck Resources had a return on equity of 3.87% and a net margin of 2.51%. The business 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 company earned $0.79 earnings per share. The company's revenue was up 12.3% on a year-over-year basis. As a group, sell-side analysts forecast that Teck Resources will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.0918 per share. This is an increase from Teck Resources's previous quarterly dividend of $0.09. The ex-dividend date is Monday, September 15th. This represents a $0.37 annualized dividend and a dividend yield of 1.11%. Teck Resources's dividend payout ratio is 94.74%.

Institutional Investors Weigh In On Teck Resources

Hedge funds have recently made changes to their positions in the business. Commonwealth Equity Services LLC boosted its holdings in Teck Resources by 2.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 13,959 shares of the basic materials company's stock valued at $566,000 after purchasing an additional 302 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Teck Resources during the 4th quarter worth approximately $413,000. Sei Investments Co. grew its stake in Teck Resources by 6.9% in the 4th quarter. Sei Investments Co. now owns 165,150 shares of the basic materials company's stock worth $6,693,000 after acquiring an additional 10,699 shares during the period. Fox Run Management L.L.C. purchased a new stake in Teck Resources in the 4th quarter worth approximately $251,000. Finally, LPL Financial LLC grew its stake in Teck Resources by 5.1% in the 4th quarter. LPL Financial LLC now owns 152,327 shares of the basic materials company's stock worth $6,174,000 after acquiring an additional 7,400 shares during the period. Institutional investors and hedge funds own 78.06% of the company's stock.

About Teck Resources

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.