Teck Resources Limited (NYSE:TECK – Free Report) (TSE:TECK) – Equities researchers at B. Riley dropped their Q4 2024 earnings per share (EPS) estimates for shares of Teck Resources in a report released on Tuesday, January 28th. B. Riley analyst N. Giles now expects that the basic materials company will post earnings per share of $0.23 for the quarter, down from their prior forecast of $0.26. The consensus estimate for Teck Resources’ current full-year earnings is $1.69 per share. B. Riley also issued estimates for Teck Resources’ FY2025 earnings at $1.53 EPS and FY2026 earnings at $1.39 EPS.
Other equities research analysts have also issued research reports about the company. Raymond James dropped their target price on Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. cut their price objective on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Scotiabank raised their target price on shares of Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft lowered shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a report on Friday, October 25th. Finally, UBS Group lowered Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Six 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.38.
Teck Resources Stock Up 1.4 %
Shares of TECK stock opened at $41.71 on Wednesday. Teck Resources has a fifty-two week low of $36.50 and a fifty-two week high of $55.13. The firm has a market capitalization of $20.80 billion, a PE ratio of 63.20 and a beta of 1.05. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. The stock’s 50-day simple moving average is $43.06 and its 200-day simple moving average is $46.22.
Teck Resources Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a $0.0895 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.86%. Teck Resources’s payout ratio is 53.03%.
Institutional Trading of Teck Resources
Several institutional investors have recently bought and sold shares of the business. Stonebridge Financial Group LLC acquired a new position in shares of Teck Resources during the 4th quarter worth about $25,000. Global Trust Asset Management LLC purchased a new stake in Teck Resources during the 4th quarter worth approximately $27,000. Eastern Bank acquired a new position in shares of Teck Resources during the third quarter valued at approximately $39,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Teck Resources in the third quarter valued at approximately $40,000. Finally, Bruce G. Allen Investments LLC boosted its stake in shares of Teck Resources by 77.4% in the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock worth $46,000 after acquiring an additional 383 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.
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