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

Shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) have been assigned a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $50.00.

A number of research analysts have commented on TECK shares. Benchmark raised their target price on shares of Teck Resources from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, April 8th. JPMorgan Chase & Co. boosted their price objective on shares of Teck Resources from $44.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Morgan Stanley restated an “overweight” rating and set a $55.00 target price on shares of Teck Resources in a report on Thursday, April 11th. Finally, UBS Group initiated coverage on Teck Resources in a report on Tuesday, January 16th. They issued a “buy” rating on the stock.

Teck Resources Stock Up 1.4 %

Shares of NYSE:TECK opened at $51.07 on Tuesday. The business’s 50 day moving average is $44.19 and its 200 day moving average is $40.48. The stock has a market cap of $26.07 billion, a P/E ratio of 22.60, a price-to-earnings-growth ratio of 8.48 and a beta of 1.15. Teck Resources has a 52-week low of $34.38 and a 52-week high of $51.65. The company has a quick ratio of 0.86, a current ratio of 1.49 and a debt-to-equity ratio of 0.20.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.01. The business had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.11 billion. Teck Resources had a return on equity of 7.52% and a net margin of 10.59%. Sell-side analysts predict that Teck Resources will post 2.87 EPS for the current year.

Teck Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be paid a dividend of $0.0911 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.36 annualized dividend and a yield of 0.71%. Teck Resources’s dividend payout ratio (DPR) is 16.37%.

Hedge Funds Weigh In On Teck Resources

Several hedge funds have recently modified their holdings of TECK. Hexagon Capital Partners LLC increased its position in shares of Teck Resources by 143.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 386 shares during the period. Baystate Wealth Management LLC acquired a new position in shares of Teck Resources in the third quarter valued at about $31,000. Creekmur Asset Management LLC purchased a new position in shares of Teck Resources in the fourth quarter worth about $35,000. JFS Wealth Advisors LLC lifted its holdings in shares of 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 purchasing an additional 600 shares during the period. Finally, Optiver Holding B.V. boosted its position in Teck Resources by 81.9% in the fourth quarter. Optiver Holding B.V. now owns 973 shares of the basic materials company’s stock valued at $41,000 after buying an additional 438 shares during 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.