Teck Resources (NYSE:TECK) Coverage Initiated at Stifel Nicolaus

Stifel Nicolaus assumed coverage on shares of Teck Resources (NYSE:TECK - Free Report) TSE: TECK in a report released on Wednesday morning, Marketbeat Ratings reports. The firm issued a hold rating on the basic materials company's stock.

TECK has been the topic of several other research reports. Veritas raised shares of Teck Resources to a "hold" rating in a report on Friday, April 11th. BMO Capital Markets initiated coverage on shares of Teck Resources in a report on Wednesday, April 16th. They set an "outperform" rating on the stock. JPMorgan Chase & Co. cut their target price on shares of Teck Resources from $50.00 to $41.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. National Bank Financial raised shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 24th. Finally, UBS Group reiterated a "neutral" rating on shares of Teck Resources in a research report on Tuesday, April 15th. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $65.25.

Teck Resources Price Performance

Shares of NYSE:TECK traded up $0.31 during midday trading on Wednesday, reaching $38.75. 2,640,249 shares of the company's stock traded hands, compared to its average volume of 3,531,149. The company has a fifty day simple moving average of $37.78 and a two-hundred day simple moving average of $38.87. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.57 and a current ratio of 3.36. The company has a market cap of $18.72 billion, a P/E ratio of 66.81, a PEG ratio of 0.59 and a beta of 0.80. Teck Resources has a 1 year low of $28.32 and a 1 year high of $54.13.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its earnings results on Thursday, April 24th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.18. Teck Resources had a return on equity of 4.53% and a net margin of 3.48%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same period last year, the company earned $0.75 EPS. The company's revenue for the quarter was up 41.4% on a year-over-year basis. Equities analysts predict that Teck Resources will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a dividend of $0.0901 per share. The ex-dividend date of this dividend was Monday, June 16th. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.93%. Teck Resources's payout ratio is 62.07%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Teck Resources in the second quarter valued at $245,000. MassMutual Private Wealth & Trust FSB boosted its holdings in Teck Resources by 102.5% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,320 shares of the basic materials company's stock worth $53,000 after buying an additional 668 shares during the last quarter. Douglas Lane & Associates LLC boosted its holdings in Teck Resources by 5.5% during the second quarter. Douglas Lane & Associates LLC now owns 1,037,976 shares of the basic materials company's stock worth $41,913,000 after buying an additional 54,561 shares during the last quarter. Impala Asset Management LLC acquired a new stake in shares of Teck Resources during the first quarter worth about $15,811,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Teck Resources by 1.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 465,861 shares of the basic materials company's stock worth $16,971,000 after purchasing an additional 8,146 shares during the period. 78.06% of the stock is currently owned by institutional investors and hedge funds.

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.