Teck Resources Ltd (NYSE:TECK) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Teck Resources has an average analyst rating of "Hold" from 18 research firms, with 13 hold ratings and 5 buy ratings. The consensus 12-month price target is about $60.17.
• Recent analyst actions have been mixed, including a downgrade from Zacks Research, upgrades from Wall Street Zen and Weiss Ratings, and a price target increase from JPMorgan to $48 with a neutral rating.
• The stock recently traded at $56.23, while the company reported a quarterly dividend of $0.125 per share, or $0.50 annually, for a yield of about 0.9%.

Teck Resources Ltd (NYSE:TECK - Get Free Report) TSE: TECK has received an average rating of "Hold" from the eighteen research firms that are currently covering the company, MarketBeat Ratings reports. Thirteen investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $60.1667.

A number of analysts have weighed in on TECK shares. Zacks Research downgraded shares of Teck Resources from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 22nd. Weiss Ratings raised Teck Resources from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, April 24th. Wall Street Zen upgraded Teck Resources to a "buy" rating in a research note on Saturday, May 16th. Scotiabank restated a "sector perform" rating on shares of Teck Resources in a research note on Monday, June 15th. Finally, JPMorgan Chase & Co. raised their price objective on Teck Resources from $45.00 to $48.00 and gave the stock a "neutral" rating in a research report on Friday, May 1st.

Teck Resources Stock Performance

Shares of NYSE TECK opened at $56.23 on Thursday. Teck Resources has a 12 month low of $30.98 and a 12 month high of $71.25. The company has a quick ratio of 2.16, a current ratio of 2.83 and a debt-to-equity ratio of 0.13. The company has a market cap of $27.15 billion, a P/E ratio of 20.60, a P/E/G ratio of 3.44 and a beta of 0.92. The business's 50 day moving average is $62.41 and its two-hundred day moving average is $56.63.

Teck Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Monday, June 15th. Teck Resources's dividend payout ratio is 13.19%.

Institutional Investors Weigh In On Teck Resources

A number of institutional investors have recently added to or reduced their stakes in TECK. Principal Financial Group Inc. grew its holdings in Teck Resources by 17.1% during the 1st quarter. Principal Financial Group Inc. now owns 22,044,284 shares of the basic materials company's stock worth $1,139,051,000 after acquiring an additional 3,211,985 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Teck Resources by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 20,185,694 shares of the basic materials company's stock worth $966,370,000 after acquiring an additional 278,481 shares during the last quarter. Davis Selected Advisers lifted its position in shares of Teck Resources by 9.0% during the fourth quarter. Davis Selected Advisers now owns 12,019,609 shares of the basic materials company's stock worth $575,620,000 after purchasing an additional 995,947 shares in the last quarter. Hancock Prospecting Pty Ltd lifted its position in shares of Teck Resources by 31.7% during the fourth quarter. Hancock Prospecting Pty Ltd now owns 10,298,293 shares of the basic materials company's stock worth $493,185,000 after purchasing an additional 2,477,344 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Teck Resources during the fourth quarter valued at approximately $404,880,000. 78.06% of the stock is owned by institutional investors and hedge funds.

About Teck Resources

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company's operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.

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