National Bank Financial Upgrades Teck Resources (NYSE:TECK) to "Strong-Buy"

National Bank Financial upgraded shares of Teck Resources (NYSE:TECK - Free Report) TSE: TECK from a hold rating to a strong-buy rating in a research note issued to investors on Thursday, April 24th,Zacks.com reports.

A number of other research firms have also recently weighed in on TECK. JPMorgan Chase & Co. dropped their price target on Teck Resources from $50.00 to $41.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Veritas upgraded Teck Resources to a "hold" rating in a research note on Friday, April 11th. National Bankshares upgraded Teck Resources from a "sector perform" rating to an "outperform" rating in a research report on Thursday, April 24th. Desjardins assumed coverage on Teck Resources in a research report on Friday, April 4th. They set a "buy" rating on the stock. Finally, Bank of America increased their price objective on Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $64.11.

Teck Resources Trading Up 0.3 %

TECK stock traded up $0.09 during midday trading on Thursday, hitting $34.08. 1,038,988 shares of the company's stock were exchanged, compared to its average volume of 3,129,131. The stock's fifty day moving average price is $37.11 and its 200-day moving average price is $41.94. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. The company has a market cap of $16.79 billion, a PE ratio of 61.88 and a beta of 0.81. Teck Resources has a one year low of $28.32 and a one year high of $55.13.

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 (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.18. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $2.19 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The company's revenue for the quarter was up 41.4% on a year-over-year basis. During the same quarter last year, the business posted $0.75 EPS. Research analysts predict that Teck Resources will post 1.53 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a $0.0901 dividend. The ex-dividend date of this dividend is Monday, June 16th. This is an increase from Teck Resources's previous quarterly dividend of $0.09. This represents a $0.36 annualized dividend and a yield of 1.06%. Teck Resources's dividend payout ratio (DPR) is currently 58.62%.

Hedge Funds Weigh In On Teck Resources

A number of hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its position in shares of Teck Resources by 2.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,632 shares of the basic materials company's stock worth $471,000 after acquiring an additional 243 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Teck Resources by 2.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 9,809 shares of the basic materials company's stock worth $398,000 after acquiring an additional 279 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in Teck Resources by 6.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,844 shares of the basic materials company's stock valued at $196,000 after buying an additional 297 shares during the period. Commonwealth Equity Services LLC lifted its position in shares of Teck Resources by 2.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 13,959 shares of the basic materials company's stock valued at $566,000 after acquiring an additional 302 shares during the period. Finally, Exchange Traded Concepts LLC boosted its stake in Teck Resources by 7.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 4,897 shares of the basic materials company's stock worth $198,000 after acquiring an additional 327 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors.

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.