Teck Resources (NYSE:TECK) Reaches New 52-Week High at $50.93

Teck Resources Limited (NYSE:TECK) (TSE:TECK) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $50.93 and last traded at $50.46, with a volume of 896570 shares changing hands. The stock had previously closed at $49.54.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TECK. Benchmark lifted their price target on Teck Resources from $50.00 to $52.00 and gave the company a “buy” rating in a report on Monday, April 8th. UBS Group began coverage on Teck Resources in a research report on Tuesday, January 16th. They issued a “buy” rating for the company. Morgan Stanley restated an “overweight” rating and issued a $55.00 target price on shares of Teck Resources in a research note on Thursday, April 11th. Finally, JPMorgan Chase & Co. boosted their target price on Teck Resources from $44.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Teck Resources presently has a consensus rating of “Moderate Buy” and an average target price of $57.86.

Teck Resources Trading Up 1.7 %

The company has a market cap of $25.72 billion, a price-to-earnings ratio of 22.29, a P/E/G ratio of 8.34 and a beta of 1.15. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.60 and a current ratio of 1.10. The firm has a fifty day moving average price of $43.94 and a 200 day moving average price of $40.41.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $1.02 EPS for the quarter, beating the consensus estimate of $1.01 by $0.01. The company had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $3.11 billion. Teck Resources had a return on equity of 7.70% and a net margin of 10.59%. As a group, equities analysts predict that Teck Resources Limited will post 2.87 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $0.0925 per share. This represents a $0.37 annualized dividend and a yield of 0.73%. The ex-dividend date was Thursday, March 14th. Teck Resources’s dividend payout ratio is 16.37%.

Institutional Investors Weigh In On Teck Resources

Hedge funds have recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC increased its position in Teck Resources by 143.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock worth $30,000 after buying an additional 386 shares during the period. Baystate Wealth Management LLC acquired a new position in Teck Resources in the third quarter valued at approximately $31,000. Creekmur Asset Management LLC acquired a new position in Teck Resources in the fourth quarter valued at approximately $35,000. JFS Wealth Advisors LLC lifted its stake in Teck Resources by 249.0% in the third quarter. JFS Wealth Advisors LLC now owns 841 shares of the basic materials company’s stock valued at $36,000 after buying an additional 600 shares during the period. Finally, Optiver Holding B.V. increased its holdings in shares of Teck Resources by 81.9% during the fourth quarter. Optiver Holding B.V. now owns 973 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 438 shares in the last quarter. Institutional investors and hedge funds 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.