Stifel Nicolaus initiated coverage on shares of Teck Resources (NYSE:TECK - Free Report) TSE: TECK in a research note released on Wednesday, Marketbeat Ratings reports. The firm issued a hold rating on the basic materials company's stock.
Other equities research analysts have also issued research reports about the stock. Veritas raised shares of Teck Resources to a "hold" rating in a report on Friday, April 11th. Desjardins initiated coverage on shares of Teck Resources in a research note on Friday, April 4th. They set a "buy" rating for the company. UBS Group reaffirmed a "neutral" rating on shares of Teck Resources in a research note on Tuesday, April 15th. National Bank Financial raised Teck Resources from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 24th. Finally, National Bankshares upgraded Teck Resources from a "sector perform" rating to an "outperform" rating in a research report on Thursday, April 24th. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Teck Resources has an average rating of "Moderate Buy" and a consensus price target of $65.25.
Check Out Our Latest Stock Report on Teck Resources
Teck Resources Price Performance
Shares of Teck Resources stock traded down $0.52 during trading hours on Wednesday, reaching $38.29. The stock had a trading volume of 4,451,529 shares, compared to its average volume of 3,259,122. The stock's 50 day moving average is $37.87 and its 200 day moving average is $38.85. The company has a current ratio of 3.36, a quick ratio of 2.57 and a debt-to-equity ratio of 0.15. Teck Resources has a twelve month low of $28.32 and a twelve month high of $54.13. The firm has a market capitalization of $18.50 billion, a PE ratio of 66.02, a PEG ratio of 0.58 and a beta of 0.80.
Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its quarterly earnings results on Thursday, April 24th. The basic materials company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.18. The company had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $2.19 billion. Teck Resources had a return on equity of 4.53% and a net margin of 3.48%. Teck Resources's quarterly revenue was up 41.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.75 EPS. Equities analysts expect that Teck Resources will post 1.53 earnings per share for the current fiscal year.
Teck Resources Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were paid a dividend of $0.0901 per share. The ex-dividend date was Monday, June 16th. This represents a $0.36 dividend on an annualized basis and a yield of 0.94%. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's payout ratio is 62.07%.
Institutional Trading of Teck Resources
A number of hedge funds and other institutional investors have recently modified their holdings of TECK. Smartleaf Asset Management LLC grew its holdings in shares of Teck Resources by 69.2% in the first quarter. Smartleaf Asset Management LLC now owns 856 shares of the basic materials company's stock valued at $32,000 after purchasing an additional 350 shares during the period. Community Bank N.A. purchased a new stake in shares of Teck Resources in the 4th quarter valued at approximately $33,000. Costello Asset Management INC purchased a new stake in shares of Teck Resources in the 1st quarter valued at approximately $33,000. Banque Cantonale Vaudoise acquired a new stake in shares of Teck Resources during the 1st quarter worth approximately $36,000. Finally, Golden State Wealth Management LLC raised its position in shares of 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 buying an additional 1,134 shares during the period. 78.06% of the stock is owned by institutional investors and hedge funds.
Teck Resources Company Profile
(
Get Free Report)
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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