Teck Resources Q4 EPS Decreased by National Bank Financial

Teck Resources Limited (NYSE:TECK) (TSE:TECK) – Research analysts at National Bank Financial cut their Q4 2024 earnings per share (EPS) estimates for Teck Resources in a research note issued on Tuesday, January 21st. National Bank Financial analyst S. Nagle now expects that the basic materials company will post earnings of $0.21 per share for the quarter, down from their previous forecast of $0.29. National Bank Financial has a “Sector Perform” rating on the stock. The consensus estimate for Teck Resources’ current full-year earnings is $1.69 per share. National Bank Financial also issued estimates for Teck Resources’ FY2025 earnings at $1.06 EPS and FY2026 earnings at $1.32 EPS.

A number of other equities research analysts also recently commented on the company. Citigroup upgraded Teck Resources to a “hold” rating in a report on Wednesday, October 2nd. Raymond James reduced their target price on Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday. UBS Group cut Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. JPMorgan Chase & Co. decreased their price objective on Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Finally, Scotiabank lifted their price target on Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a report on Tuesday, October 8th. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.38.

Teck Resources Stock Up 1.0 %

Shares of Teck Resources stock opened at $43.35 on Thursday. 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 $21.62 billion, a P/E ratio of 65.68 and a beta of 1.05. Teck Resources has a one year low of $36.50 and a one year high of $55.13. The firm has a fifty day moving average of $43.56 and a two-hundred day moving average of $46.50.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.24. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.09 billion. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. Teck Resources’s revenue for the quarter was down 20.6% on a year-over-year basis. During the same period last year, the firm posted $0.57 EPS.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Principal Financial Group Inc. grew its stake in shares of Teck Resources by 21.7% during the third quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company’s stock worth $388,507,000 after buying an additional 1,326,241 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of Teck Resources by 2.6% in the third quarter. CIBC Asset Management Inc now owns 6,495,880 shares of the basic materials company’s stock valued at $341,337,000 after buying an additional 165,759 shares during the period. Mackenzie Financial Corp raised its holdings in Teck Resources by 10.3% in the 2nd quarter. Mackenzie Financial Corp now owns 5,855,836 shares of the basic materials company’s stock valued at $280,655,000 after buying an additional 546,801 shares during the last quarter. AMF Tjanstepension AB boosted its position in Teck Resources by 3.9% during the 3rd quarter. AMF Tjanstepension AB now owns 4,552,507 shares of the basic materials company’s stock worth $238,055,000 after buying an additional 169,476 shares during the period. Finally, FMR LLC grew its holdings in 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 acquiring an additional 1,531,563 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Cuts Dividend

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

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.