Teck Resources Limited (NYSE:TECK) Given Consensus Recommendation of “Moderate Buy” by Analysts

Teck Resources Limited (NYSE:TECK) (TSE:TECK) has earned an average recommendation of “Moderate Buy” from the ten analysts that are currently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $65.29.

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their target price on shares of Teck Resources from $57.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. StockNews.com upgraded Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. UBS Group downgraded shares of Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. Citigroup upgraded Teck Resources to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Benchmark reaffirmed a “buy” rating and set a $55.00 price objective on shares of Teck Resources in a research report on Thursday, July 25th.

Institutional Investors Weigh In On Teck Resources

Several large investors have recently bought and sold shares of the business. AMF Tjanstepension AB boosted its stake in shares of Teck Resources by 846.6% during the second quarter. AMF Tjanstepension AB now owns 4,383,031 shares of the basic materials company’s stock valued at $210,034,000 after purchasing an additional 3,919,984 shares during the period. Castle Hook Partners LP purchased a new position in shares of Teck Resources in the 1st quarter valued at $90,980,000. TD Asset Management Inc raised its position in shares of Teck Resources by 49.0% in the 2nd quarter. TD Asset Management Inc now owns 4,950,816 shares of the basic materials company’s stock worth $237,202,000 after acquiring an additional 1,629,149 shares in the last quarter. FMR LLC lifted its stake in shares of Teck Resources by 72.8% during the 3rd quarter. FMR LLC now owns 3,634,430 shares of the basic materials company’s stock worth $189,848,000 after purchasing an additional 1,531,563 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new stake in Teck Resources during the third quarter valued at about $70,549,000. Institutional investors own 78.06% of the company’s stock.

Teck Resources Trading Down 0.9 %

Shares of TECK opened at $44.99 on Friday. The stock has a market capitalization of $22.68 billion, a P/E ratio of 68.17 and a beta of 1.04. Teck Resources has a twelve month low of $34.56 and a twelve month high of $55.13. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The firm has a fifty day simple moving average of $48.73 and a two-hundred day simple moving average of $48.66.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.24. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The firm had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same period in the previous year, the firm earned $0.57 earnings per share. The business’s revenue was down 20.6% compared to the same quarter last year. On average, research analysts anticipate that Teck Resources will post 1.84 EPS for the current year.

Teck Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a dividend of $0.0895 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.80%. Teck Resources’s payout ratio is 56.06%.

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.