Teck Resources (NYSE:TECK) Stock Price Up 7% - Should You Buy?

Teck Resources Ltd (NYSE:TECK - Get Free Report) TSE: TECK's share price rose 7% on Thursday . The company traded as high as $40.67 and last traded at $40.93. Approximately 1,082,323 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 3,451,607 shares. The stock had previously closed at $38.25.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TECK. Veritas upgraded Teck Resources to a "hold" rating in a research report on Friday, April 11th. UBS Group restated a "neutral" rating on shares of Teck Resources in a research report on Tuesday, April 15th. Desjardins began coverage on shares of Teck Resources in a research note on Friday, April 4th. They issued a "buy" rating on the stock. Bank of America upped their price target on shares of Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Teck Resources from $50.00 to $41.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $64.63.

Teck Resources Price Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 3.36 and a quick ratio of 2.57. The stock has a 50 day simple moving average of $36.72 and a two-hundred day simple moving average of $39.03. The company has a market cap of $19.70 billion, a price-to-earnings ratio of 69.90, a price-to-earnings-growth ratio of 0.56 and a beta of 0.79.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its quarterly earnings results on Thursday, April 24th. The basic materials company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.18. Teck Resources had a net margin of 3.48% and a return on equity of 4.53%. The firm had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $2.19 billion. During the same quarter in the previous year, the company posted $0.75 EPS. The company's revenue was up 41.4% compared to the same quarter last year. On average, equities research analysts predict that Teck Resources Ltd will post 1.53 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.0901 per share. The ex-dividend date is Monday, June 16th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.89%. This is an increase from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's dividend payout ratio (DPR) is currently 62.07%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TECK. Vanguard Group Inc. raised its position in Teck Resources by 1.1% in the first quarter. Vanguard Group Inc. now owns 19,531,542 shares of the basic materials company's stock valued at $711,475,000 after purchasing an additional 215,410 shares during the period. Amundi increased its position in shares of Teck Resources by 5.6% during the 4th quarter. Amundi now owns 14,949,233 shares of the basic materials company's stock worth $619,765,000 after purchasing an additional 791,725 shares during the last quarter. Norges Bank purchased a new stake in Teck Resources in the 4th quarter valued at about $470,101,000. Principal Financial Group Inc. lifted its position in Teck Resources by 56.9% in the first quarter. Principal Financial Group Inc. now owns 11,530,742 shares of the basic materials company's stock valued at $419,970,000 after buying an additional 4,180,623 shares during the last quarter. Finally, Boston Partners boosted its stake in Teck Resources by 1.9% during the first quarter. Boston Partners now owns 9,251,775 shares of the basic materials company's stock worth $337,042,000 after buying an additional 173,203 shares during the period. 78.06% of the stock is currently owned by institutional investors and hedge funds.

About Teck Resources

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.