Teck Resources Limited (NYSE:TECK – Get Free Report) (TSE:TECK) has received an average recommendation of “Moderate Buy” from the eight brokerages that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $50.00.
TECK has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Teck Resources from $44.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Benchmark boosted their price objective on Teck Resources from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $55.00 target price on shares of Teck Resources in a research note on Thursday, April 11th.
Read Our Latest Report on TECK
Hedge Funds Weigh In On Teck Resources
Teck Resources Stock Down 0.7 %
NYSE:TECK opened at $47.45 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.49 and a quick ratio of 0.86. Teck Resources has a one year low of $34.38 and a one year high of $55.13. The firm’s 50 day simple moving average is $49.72 and its 200 day simple moving average is $43.92. The company has a market cap of $24.27 billion, a PE ratio of 21.00, a P/E/G ratio of 10.44 and a beta of 1.08.
Teck Resources (NYSE:TECK – Get Free Report) (TSE:TECK) last released its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.31). Teck Resources had a net margin of 10.59% and a return on equity of 7.52%. The company had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $2.99 billion. On average, research analysts anticipate that Teck Resources will post 2.21 earnings per share for the current year.
Teck Resources Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be given a dividend of $0.0911 per share. The ex-dividend date is Monday, June 17th. This represents a $0.36 annualized dividend and a dividend yield of 0.77%. Teck Resources’s payout ratio is 15.93%.
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.
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