Zacks Research Lowers Earnings Estimates for Teck Resources

Teck Resources Limited (NYSE:TECK) (TSE:TECK) – Investment analysts at Zacks Research cut their Q4 2024 earnings estimates for Teck Resources in a report issued on Monday, February 10th. Zacks Research analyst M. Das now expects that the basic materials company will post earnings of $0.19 per share for the quarter, down from their previous forecast of $0.20. The consensus estimate for Teck Resources’ current full-year earnings is $1.64 per share. Zacks Research also issued estimates for Teck Resources’ Q1 2025 earnings at $0.18 EPS, FY2025 earnings at $1.14 EPS and FY2026 earnings at $1.30 EPS.

Several other equities analysts have also issued reports on TECK. StockNews.com upgraded shares of Teck Resources from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. National Bank Financial lowered shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. UBS Group lowered shares of Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Raymond James dropped their price objective 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. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $65.38.

Teck Resources Stock Performance

Shares of Teck Resources stock opened at $42.98 on Wednesday. The stock has a market cap of $21.44 billion, a price-to-earnings ratio of 65.12 and a beta of 1.02. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. Teck Resources has a twelve month low of $36.50 and a twelve month high of $55.13. The company’s fifty day moving average is $42.30 and its 200 day moving average is $45.90.

Teck Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were paid a $0.0895 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.36 annualized dividend and a yield of 0.83%. Teck Resources’s dividend payout ratio (DPR) is 53.03%.

Institutional Investors Weigh In On Teck Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Teck Resources by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 19,316,132 shares of the basic materials company’s stock valued at $783,153,000 after buying an additional 58,985 shares during the last quarter. Amundi increased its stake 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 shares of Teck Resources during the 4th quarter worth approximately $470,101,000. Principal Financial Group Inc. increased its stake in shares of Teck Resources by 21.7% during the 3rd quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company’s stock worth $388,507,000 after purchasing an additional 1,326,241 shares during the last quarter. Finally, CIBC Asset Management Inc increased its stake in shares of Teck Resources by 2.0% during the 4th quarter. CIBC Asset Management Inc now owns 6,623,228 shares of the basic materials company’s stock worth $269,956,000 after purchasing an additional 127,348 shares during the last quarter. Hedge funds and other 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.