Research Analysts Offer Predictions for Teck Resources Limited’s Q4 2024 Earnings (NYSE:TECK)

Teck Resources Limited (NYSE:TECK) (TSE:TECK) – Equities research analysts at B. Riley increased their Q4 2024 earnings per share (EPS) estimates for shares of Teck Resources in a research note issued on Tuesday, October 1st. B. Riley analyst L. Pipes now anticipates that the basic materials company will post earnings per share of $0.29 for the quarter, up from their previous estimate of $0.28. The consensus estimate for Teck Resources’ current full-year earnings is $1.98 per share. B. Riley also issued estimates for Teck Resources’ FY2025 earnings at $1.24 EPS and FY2026 earnings at $1.02 EPS.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.32. Teck Resources had a return on equity of 6.52% and a net margin of 9.40%. The company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same period last year, the business posted $0.91 EPS. The company’s revenue was up 10.1% on a year-over-year basis.

Other analysts also recently issued reports about the company. Morgan Stanley lifted their price target on Teck Resources from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, June 21st. Eight Capital downgraded Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 11th. Benchmark restated a “buy” rating and issued a $55.00 price target on shares of Teck Resources in a research note on Thursday, July 25th. TD Securities upgraded Teck Resources to a “strong-buy” rating in a research note on Tuesday, July 16th. Finally, CIBC lifted their price objective on Teck Resources from $70.00 to $80.00 and gave the stock an “outperformer” rating in a report on Friday, July 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $65.00.

Teck Resources Stock Up 1.0 %

Teck Resources stock opened at $52.38 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 0.77. Teck Resources has a 1-year low of $34.38 and a 1-year high of $55.13. The company has a market cap of $26.76 billion, a PE ratio of 23.18 and a beta of 1.02. The stock’s 50 day moving average price is $47.41 and its 200 day moving average price is $48.17.

Teck Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a dividend of $0.625 per share. The ex-dividend date was Friday, September 13th. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. This represents a $2.50 annualized dividend and a yield of 4.77%. Teck Resources’s payout ratio is currently 16.37%.

Hedge Funds Weigh In On Teck Resources

A number of institutional investors have recently made changes to their positions in TECK. Hexagon Capital Partners LLC raised its holdings in shares of Teck Resources by 143.0% in the first quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 386 shares during the last quarter. Creekmur Asset Management LLC acquired a new position in shares of Teck Resources in the fourth quarter worth $35,000. Headlands Technologies LLC acquired a new position in shares of Teck Resources in the second quarter worth $38,000. Optiver Holding B.V. raised its holdings in shares of Teck Resources by 81.9% in the fourth quarter. Optiver Holding B.V. now owns 973 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 438 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Teck Resources by 583.1% in the second quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock worth $48,000 after acquiring an additional 898 shares during the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

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.