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

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

TECK has been the subject of several other reports. JPMorgan Chase & Co. lowered their target price on Teck Resources from $50.00 to $41.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. National Bankshares upgraded shares of Teck Resources from a "sector perform" rating to an "outperform" rating in a research report on Thursday, April 24th. UBS Group restated a "neutral" rating on shares of Teck Resources in a research report on Tuesday, April 15th. Desjardins started coverage on shares of Teck Resources in a research report on Friday, April 4th. They issued a "buy" rating on the stock. Finally, National Bank Financial upgraded shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $65.25.

Teck Resources Trading Down 1.8%

Shares of NYSE:TECK traded down $0.72 during midday trading on Wednesday, hitting $38.40. 4,334,437 shares of the stock were exchanged, compared to its average volume of 3,246,671. The business's 50-day moving average price is $37.69 and its 200 day moving average price is $38.87. The stock has a market capitalization of $18.55 billion, a price-to-earnings ratio of 66.21, a P/E/G ratio of 0.61 and a beta of 0.80. Teck Resources has a 12 month low of $28.32 and a 12 month high of $54.13. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.57 and a current ratio of 3.36.

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 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.18. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $2.19 billion. Teck Resources had a net margin of 3.48% and a return on equity of 4.53%. Teck Resources's revenue was up 41.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 earnings per share. Analysts predict that Teck Resources will post 1.53 earnings per share for the current year.

Teck Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were given a $0.0901 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.36 annualized dividend and a yield of 0.94%. This is an increase from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's dividend payout ratio (DPR) is presently 62.07%.

Institutional Trading of Teck Resources

Several hedge funds have recently bought and sold shares of TECK. Jones Financial Companies Lllp boosted its holdings in Teck Resources by 342.8% during the 4th quarter. Jones Financial Companies Lllp now owns 1,758 shares of the basic materials company's stock worth $71,000 after acquiring an additional 1,361 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in Teck Resources by 6.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,844 shares of the basic materials company's stock worth $196,000 after acquiring an additional 297 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Teck Resources by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,415,536 shares of the basic materials company's stock worth $57,363,000 after acquiring an additional 21,416 shares during the last quarter. Assetmark Inc. boosted its holdings in Teck Resources by 6.6% during the 4th quarter. Assetmark Inc. now owns 19,474 shares of the basic materials company's stock worth $789,000 after acquiring an additional 1,211 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Teck Resources during the 4th quarter worth $14,344,000. Institutional investors and hedge funds own 78.06% of the company's stock.

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.