Q4 Earnings Forecast for Teck Resources Issued By B. Riley

Teck Resources Limited (NYSE:TECK) (TSE:TECK) – Equities research analysts at B. Riley cut their Q4 2024 earnings per share (EPS) estimates for Teck Resources in a report released on Tuesday, January 28th. B. Riley analyst N. Giles now forecasts that the basic materials company will post earnings of $0.23 per share for the quarter, down from their prior forecast of $0.26. The consensus estimate for Teck Resources’ current full-year earnings is $1.69 per share. B. Riley also issued estimates for Teck Resources’ FY2025 earnings at $1.53 EPS and FY2026 earnings at $1.39 EPS.

A number of other analysts have also weighed in on TECK. Citigroup upgraded shares of Teck Resources to a “hold” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. cut their target price on Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. StockNews.com raised shares of Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. National Bank Financial downgraded Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. Finally, Raymond James lowered their target price on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, January 22nd. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $65.38.

Teck Resources Stock Performance

TECK opened at $41.06 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. The business has a fifty day simple moving average of $43.17 and a 200 day simple moving average of $46.25. Teck Resources has a 1 year low of $36.50 and a 1 year high of $55.13. The company has a market capitalization of $20.48 billion, a PE ratio of 62.22 and a beta of 1.05.

Teck Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were given a dividend of $0.0895 per share. The ex-dividend date was Friday, December 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.87%. Teck Resources’s dividend payout ratio (DPR) is presently 53.03%.

Institutional Trading of Teck Resources

Several large investors have recently modified their holdings of the company. Louisbourg Investments Inc. raised its stake in Teck Resources by 2.6% during the 4th quarter. Louisbourg Investments Inc. now owns 131,746 shares of the basic materials company’s stock worth $5,339,000 after acquiring an additional 3,278 shares during the period. Stonebridge Financial Group LLC purchased a new position in shares of Teck Resources during the 4th quarter valued at $25,000. Savant Capital LLC boosted its holdings in Teck Resources by 32.3% in the 4th quarter. Savant Capital LLC now owns 9,415 shares of the basic materials company’s stock worth $382,000 after buying an additional 2,301 shares during the period. Entropy Technologies LP purchased a new stake in Teck Resources in the 4th quarter worth $288,000. Finally, Quattro Financial Advisors LLC raised its holdings in Teck Resources by 81.9% during the fourth quarter. Quattro Financial Advisors LLC now owns 27,620 shares of the basic materials company’s stock valued at $1,200,000 after acquiring an additional 12,433 shares during the period. Institutional investors own 78.06% of the company’s stock.

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.