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

Shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) have earned a consensus recommendation of “Moderate Buy” from the twelve analysts that are presently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $65.38.

Several equities analysts have commented on TECK shares. UBS Group lowered Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. National Bank Financial lowered Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. Raymond James lowered their price target on Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. lowered their price target on Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th.

Institutional Investors Weigh In On Teck Resources

A number of institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. boosted its position in Teck Resources by 2.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,632 shares of the basic materials company’s stock valued at $471,000 after purchasing an additional 243 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in Teck Resources by 2.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 9,809 shares of the basic materials company’s stock valued at $398,000 after buying an additional 279 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in Teck Resources by 6.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,844 shares of the basic materials company’s stock valued at $196,000 after buying an additional 297 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in Teck Resources by 2.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 13,959 shares of the basic materials company’s stock valued at $566,000 after buying an additional 302 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its stake in Teck Resources by 7.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 4,897 shares of the basic materials company’s stock valued at $198,000 after buying an additional 327 shares during the last quarter. Institutional investors own 78.06% of the company’s stock.

Teck Resources Stock Down 5.2 %

Shares of Teck Resources stock opened at $41.12 on Monday. The stock has a market capitalization of $20.51 billion, a price-to-earnings ratio of 74.76 and a beta of 1.02. The company’s 50 day moving average price is $41.95 and its 200-day moving average price is $45.73. Teck Resources has a 52-week low of $37.30 and a 52-week high of $55.13. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.07. The business had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $2.58 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. Equities research analysts forecast that Teck Resources will post 1.53 EPS for the current year.

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.0879 per share. This represents a $0.35 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Friday, March 14th. Teck Resources’s payout ratio is currently 63.64%.

Teck Resources Company Profile

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.