Teck Resources Limited (NYSE:TECK – Free Report) (TSE:TECK) – Raymond James decreased their Q4 2024 earnings per share (EPS) estimates for shares of Teck Resources in a research note issued to investors on Tuesday, January 21st. Raymond James analyst B. Macarthur now forecasts that the basic materials company will earn $0.30 per share for the quarter, down from their prior forecast of $0.48. Raymond James currently has a “Outperform” rating and a $70.00 price target on the stock. The consensus estimate for Teck Resources’ current full-year earnings is $1.69 per share. Raymond James also issued estimates for Teck Resources’ Q1 2025 earnings at $0.32 EPS, Q2 2025 earnings at $0.39 EPS, Q3 2025 earnings at $0.44 EPS, Q4 2025 earnings at $0.42 EPS and FY2025 earnings at $1.56 EPS.
Several other equities research analysts also recently weighed in on TECK. StockNews.com upgraded shares of Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. UBS Group downgraded Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. dropped their target price on Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Scotiabank lifted their price objective on shares of Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research report on Tuesday, October 8th. Finally, Citigroup upgraded shares of Teck Resources to a “hold” rating in a research report on Wednesday, October 2nd. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong 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 $65.38.
Teck Resources Stock Up 0.1 %
Shares of NYSE:TECK opened at $43.39 on Friday. Teck Resources has a 1-year low of $36.50 and a 1-year high of $55.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. The stock has a market cap of $21.64 billion, a P/E ratio of 65.74 and a beta of 1.05. The firm has a fifty day moving average price of $43.49 and a 200 day moving average price of $46.44.
Teck Resources (NYSE:TECK – Get Free Report) (TSE:TECK) last announced its earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.24. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same period last year, the firm posted $0.57 earnings per share. The company’s revenue for the quarter was down 20.6% compared to the same quarter last year.
Institutional Investors Weigh In On Teck Resources
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Swedbank AB acquired a new stake in shares of Teck Resources in the 4th quarter worth approximately $103,878,000. FMR LLC boosted its position in Teck Resources by 72.8% during the third quarter. FMR LLC now owns 3,634,430 shares of the basic materials company’s stock worth $189,848,000 after purchasing an additional 1,531,563 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in Teck Resources in the third quarter valued at $70,549,000. Principal Financial Group Inc. increased its position in shares of Teck Resources by 21.7% in the third quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company’s stock valued at $388,507,000 after buying an additional 1,326,241 shares in the last quarter. Finally, Holocene Advisors LP raised its stake in shares of Teck Resources by 152.7% during the 3rd quarter. Holocene Advisors LP now owns 2,070,377 shares of the basic materials company’s stock worth $108,156,000 after buying an additional 1,251,203 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.
Teck Resources Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a $0.0895 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.83%. Teck Resources’s dividend payout ratio (DPR) is presently 53.03%.
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.
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