Teck Resources (NYSE:TECK) Shares Down 3.5%

Teck Resources Limited (NYSE:TECK) (TSE:TECK)’s share price traded down 3.5% during trading on Wednesday . The company traded as low as $35.21 and last traded at $35.33. 4,222,244 shares changed hands during trading, an increase of 4% from the average session volume of 4,058,070 shares. The stock had previously closed at $36.63.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wolfe Research upgraded Teck Resources from a “peer perform” rating to an “outperform” rating in a research report on Friday, November 10th. TheStreet lowered shares of Teck Resources from a “b-” rating to a “c+” rating in a research note on Tuesday, October 24th. Benchmark reissued a “buy” rating and set a $50.00 target price on shares of Teck Resources in a report on Wednesday, October 25th. StockNews.com began coverage on shares of Teck Resources in a report on Friday. They issued a “hold” rating on the stock. Finally, National Bank Financial upgraded Teck Resources from a “sector perform” rating to an “outperform” rating in a research note on Thursday, July 27th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.91.

Teck Resources Stock Down 0.9 %

The company has a market cap of $18.08 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 4.49 and a beta of 1.07. The business has a fifty day moving average of $39.15 and a two-hundred day moving average of $40.79. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 0.22.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Tuesday, October 24th. The basic materials company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.20). The business had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.77 billion. Teck Resources had a net margin of 15.78% and a return on equity of 9.11%. As a group, equities analysts anticipate that Teck Resources Limited will post 3.83 EPS for the current fiscal year.

Teck Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a dividend of $0.125 per share. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. This represents a $0.50 dividend on an annualized basis and a yield of 1.42%. Teck Resources’s dividend payout ratio is currently 11.78%.

Institutional Trading of Teck Resources

Several institutional investors have recently modified their holdings of the stock. Dodge & Cox lifted its stake in Teck Resources by 2.3% in the 1st quarter. Dodge & Cox now owns 27,691,040 shares of the basic materials company’s stock valued at $1,010,723,000 after buying an additional 616,700 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Teck Resources by 1.9% in the third quarter. Vanguard Group Inc. now owns 15,602,373 shares of the basic materials company’s stock valued at $474,468,000 after acquiring an additional 297,156 shares in the last quarter. Boston Partners lifted its position in shares of Teck Resources by 23.3% in the third quarter. Boston Partners now owns 8,449,403 shares of the basic materials company’s stock valued at $384,364,000 after acquiring an additional 1,596,232 shares in the last quarter. Norges Bank acquired a new stake in shares of Teck Resources in the fourth quarter worth approximately $291,283,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Teck Resources by 2.5% during the second quarter. Dimensional Fund Advisors LP now owns 6,764,739 shares of the basic materials company’s stock worth $284,757,000 after purchasing an additional 163,748 shares in the last quarter. Institutional investors and hedge funds own 59.23% 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. It operates through Steelmaking Coal, Copper, Zinc, and Energy segments. The company's principal products include copper, zinc, steelmaking coal, and blended bitumen.