Teck Resources Ltd (NYSE:TECK) Given Consensus Rating of "Moderate Buy" by Analysts

Shares of Teck Resources Ltd (NYSE:TECK - Get Free Report) TSE: TECK have received a consensus rating of "Moderate Buy" from the fifteen analysts that are presently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and two have assigned 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 $64.63.

Several brokerages have recently weighed in on TECK. UBS Group reiterated a "neutral" rating on shares of Teck Resources in a report on Tuesday, April 15th. Veritas upgraded Teck Resources to a "hold" rating in a report on Friday, April 11th. National Bank Financial upgraded Teck Resources from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 24th. BMO Capital Markets began coverage on Teck Resources in a report on Wednesday, April 16th. They issued an "outperform" rating on the stock. Finally, National Bankshares upgraded Teck Resources from a "sector perform" rating to an "outperform" rating in a report on Thursday, April 24th.

Teck Resources Trading Down 2.3%

Shares of TECK stock opened at $40.54 on Friday. Teck Resources has a 1 year low of $28.32 and a 1 year high of $54.13. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.36 and a quick ratio of 2.57. The stock's 50 day simple moving average is $36.87 and its two-hundred day simple moving average is $38.94. The company has a market cap of $19.70 billion, a PE ratio of 69.90, a price-to-earnings-growth ratio of 0.60 and a beta of 0.79.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its quarterly earnings results on Thursday, April 24th. The basic materials company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.18. Teck Resources had a return on equity of 4.53% and a net margin of 3.48%. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same period in the prior year, the business posted $0.75 earnings per share. The company's revenue for the quarter was up 41.4% on a year-over-year basis. Research analysts predict 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. Shareholders of record on Monday, June 16th will be given a dividend of $0.0901 per share. This represents a $0.36 annualized dividend and a yield of 0.89%. The ex-dividend date is Monday, June 16th. This is a boost from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's dividend payout ratio (DPR) is 62.07%.

Institutional Trading of Teck Resources

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Community Bank N.A. bought a new stake in Teck Resources during the 4th quarter valued at $33,000. Smartleaf Asset Management LLC boosted its position in Teck Resources by 69.2% during 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. Costello Asset Management INC bought a new stake in Teck Resources during the 1st quarter valued at $33,000. Banque Cantonale Vaudoise bought a new stake in Teck Resources during the 1st quarter valued at $36,000. Finally, Golden State Wealth Management LLC boosted its position in Teck Resources by 7,560.0% during the 1st quarter. Golden State Wealth Management LLC now owns 1,149 shares of the basic materials company's stock valued at $42,000 after acquiring an additional 1,134 shares in the last quarter. Institutional investors 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.

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