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

Key Points

• Analysts hold a neutral view: Teck Resources has a consensus “Hold” rating from 13 brokerages, with eight holds and five buys. The average 12-month price target is $62.25, slightly above the reported share price of $60.19.
• Recent ratings were mixed: Deutsche Bank and Raymond James raised their views and price targets, while Zacks Research, Weiss Ratings and Veritas maintained or moved the stock toward a hold rating.
• Institutional ownership remains high: Several investors increased their positions, and institutional investors collectively own 78.06% of Teck Resources. The company also announced a quarterly dividend of $0.125 per share, representing a 0.8% annualized yield.

Shares of Teck Resources Ltd (NYSE:TECK - Get Free Report) TSE: TECK have earned a consensus rating of "Hold" from the thirteen brokerages that are covering the company, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $62.25.

TECK has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Teck Resources from $64.00 to $68.00 and gave the company a "buy" rating in a report on Thursday, July 2nd. Zacks Research cut Teck Resources from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 22nd. Weiss Ratings restated a "hold (c+)" rating on shares of Teck Resources in a research report on Tuesday, July 21st. Raymond James Financial raised Teck Resources from a "market perform" rating to an "outperform" rating in a report on Thursday, July 23rd. Finally, Veritas downgraded Teck Resources from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 4th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TECK. PensionDanmark Pensionsforsikringsaktieselskab increased its holdings in shares of Teck Resources by 2.8% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 191,700 shares of the basic materials company's stock worth $11,413,000 after buying an additional 5,220 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Teck Resources by 23.6% during the second quarter. Assenagon Asset Management S.A. now owns 17,299 shares of the basic materials company's stock worth $1,030,000 after purchasing an additional 3,302 shares during the period. Versant Capital Management Inc boosted its stake in shares of Teck Resources by 86.5% in the second quarter. Versant Capital Management Inc now owns 1,587 shares of the basic materials company's stock valued at $94,000 after purchasing an additional 736 shares during the period. Brandywine Financial Group purchased a new position in shares of Teck Resources in the first quarter valued at approximately $5,251,000. Finally, Rathbones Group PLC boosted its position in Teck Resources by 80.8% in the 1st quarter. Rathbones Group PLC now owns 8,648 shares of the basic materials company's stock valued at $447,000 after buying an additional 3,865 shares during the period. Hedge funds and other institutional investors own 78.06% of the company's stock.

Teck Resources Stock Performance

NYSE:TECK opened at $60.19 on Monday. The company has a market cap of $29.07 billion, a P/E ratio of 16.31, a P/E/G ratio of 1.77 and a beta of 0.92. Teck Resources has a twelve month low of $30.98 and a twelve month high of $71.25. The company's 50-day moving average price is $61.30 and its 200-day moving average price is $57.88. The company has a current ratio of 3.12, a quick ratio of 2.33 and a debt-to-equity ratio of 0.12.

Teck Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, September 15th. Teck Resources's dividend payout ratio is presently 9.76%.

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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