Teck Resources Limited (NYSE:TECK) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) have been given a consensus rating of “Moderate Buy” by the ten analysts that are currently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $65.29.

TECK has been the topic of several research reports. Paradigm Capital raised Teck Resources to a “moderate buy” rating in a research report on Friday, July 26th. Deutsche Bank Aktiengesellschaft cut Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a research note on Friday, October 25th. Citigroup upgraded Teck Resources to a “hold” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. decreased their price objective on shares of Teck Resources from $57.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Finally, UBS Group lowered shares of Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th.

Institutional Investors Weigh In On Teck Resources

A number of institutional investors have recently added to or reduced their stakes in the stock. AMF Tjanstepension AB lifted its holdings in Teck Resources by 846.6% during the second quarter. AMF Tjanstepension AB now owns 4,383,031 shares of the basic materials company’s stock valued at $210,034,000 after purchasing an additional 3,919,984 shares in the last quarter. Castle Hook Partners LP acquired a new position in shares of Teck Resources during the 1st quarter worth about $90,980,000. TD Asset Management Inc lifted its stake in Teck Resources by 49.0% in the 2nd quarter. TD Asset Management Inc now owns 4,950,816 shares of the basic materials company’s stock valued at $237,202,000 after buying an additional 1,629,149 shares in the last quarter. FMR LLC boosted its holdings in Teck Resources by 72.8% in the 3rd quarter. FMR LLC now owns 3,634,430 shares of the basic materials company’s stock worth $189,848,000 after buying an additional 1,531,563 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new stake in Teck Resources during the 3rd quarter worth approximately $70,549,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Stock Performance

Shares of TECK opened at $44.99 on Friday. Teck Resources has a 12 month low of $34.56 and a 12 month high of $55.13. The stock has a fifty day moving average price of $48.73 and a 200-day moving average price of $48.66. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The firm has a market cap of $22.68 billion, a PE ratio of 68.17 and a beta of 1.04.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.36 by $0.24. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.09 billion. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. Teck Resources’s revenue was down 20.6% on a year-over-year basis. During the same period last year, the firm posted $0.57 EPS. Equities research analysts predict that Teck Resources will post 1.84 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a dividend of $0.0895 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Friday, December 13th. Teck Resources’s dividend payout ratio (DPR) is presently 56.06%.

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.