Benchmark Raises Teck Resources (NYSE:TECK) Price Target to $52.00

Teck Resources (NYSE:TECK) (TSE:TECK) had its price target hoisted by Benchmark from $50.00 to $52.00 in a report published on Monday, Benzinga reports. They currently have a buy rating on the basic materials company’s stock.

TECK has been the subject of several other research reports. UBS Group began coverage on shares of Teck Resources in a research report on Tuesday, January 16th. They set a buy rating for the company. StockNews.com started coverage on shares of Teck Resources in a research note on Monday, December 11th. They issued a hold rating for the company. Finally, Morgan Stanley cut their target price on Teck Resources from $45.00 to $44.00 and set an overweight rating on the stock in a research report on Monday, February 26th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Teck Resources has a consensus rating of Moderate Buy and an average price target of $64.29.

Teck Resources Price Performance

Teck Resources stock opened at $49.38 on Monday. The company has a current ratio of 1.10, a quick ratio of 0.60 and a debt-to-equity ratio of 0.21. The company has a fifty day simple moving average of $41.74 and a 200-day simple moving average of $39.85. The stock has a market cap of $25.21 billion, a P/E ratio of 14.40, a price-to-earnings-growth ratio of 6.02 and a beta of 1.15. Teck Resources has a 12-month low of $34.38 and a 12-month high of $50.30.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.01. Teck Resources had a return on equity of 9.67% and a net margin of 16.21%. The business had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $3.11 billion. Equities analysts expect that Teck Resources will post 3.77 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $0.0925 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.37 dividend on an annualized basis and a yield of 0.75%. Teck Resources’s payout ratio is 10.79%.

Institutional Investors Weigh In On Teck Resources

Several hedge funds have recently modified their holdings of TECK. Baystate Wealth Management LLC purchased a new stake in Teck Resources in the 3rd quarter valued at approximately $31,000. Money Concepts Capital Corp acquired a new stake in Teck Resources in the fourth quarter valued at $29,000. Creekmur Asset Management LLC purchased a new stake in shares of Teck Resources during the 4th quarter worth $35,000. JFS Wealth Advisors LLC grew its position in Teck Resources by 249.0% during the third quarter. JFS Wealth Advisors LLC now owns 841 shares of the basic materials company’s stock worth $36,000 after buying an additional 600 shares during the period. Finally, Achmea Investment Management B.V. acquired a new stake in shares of Teck Resources in the 1st quarter worth approximately $37,000. 78.06% of the stock is owned by institutional investors and hedge funds.

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.