Teck Resources (TECK) Posts Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Teck Resources (NYSE:TECK) (TSE:TECK) released its earnings results on Wednesday. The basic materials company reported $0.95 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.01 by ($0.06), Morningstar.com reports. Teck Resources had a return on equity of 15.16% and a net margin of 19.72%. The firm had revenue of $3.21 billion during the quarter, compared to analyst estimates of $3.28 billion. During the same quarter last year, the business posted $1.61 EPS. The firm’s revenue was down 9.8% on a year-over-year basis.

Teck Resources (NYSE:TECK) traded up $0.63 during trading hours on Wednesday, reaching $30.26. 7,818,382 shares of the company’s stock traded hands, compared to its average volume of 4,683,781. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.17 and a quick ratio of 1.42. Teck Resources has a 52-week low of $14.56 and a 52-week high of $30.79. The stock has a market cap of $17,360.00, a P/E ratio of 9.01, a P/E/G ratio of 1.09 and a beta of 1.40.

A number of large investors have recently bought and sold shares of TECK. Vanguard Group Inc. purchased a new position in Teck Resources during the 2nd quarter valued at about $182,655,000. Capital Growth Management LP purchased a new position in Teck Resources during the 4th quarter valued at about $56,004,000. Allianz Asset Management GmbH increased its holdings in Teck Resources by 104.3% during the 3rd quarter. Allianz Asset Management GmbH now owns 2,225,492 shares of the basic materials company’s stock valued at $46,748,000 after acquiring an additional 1,136,314 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Teck Resources by 30.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,892,000 shares of the basic materials company’s stock valued at $103,172,000 after acquiring an additional 1,128,428 shares in the last quarter. Finally, Waratah Capital Advisors Ltd. increased its holdings in Teck Resources by 164.7% during the 4th quarter. Waratah Capital Advisors Ltd. now owns 1,796,054 shares of the basic materials company’s stock valued at $47,060,000 after acquiring an additional 1,117,445 shares in the last quarter. Hedge funds and other institutional investors own 52.93% of the company’s stock.

Several analysts recently commented on TECK shares. ValuEngine cut shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 18th. BidaskClub cut shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 28th. Berenberg Bank reiterated a “buy” rating and issued a $27.50 price objective on shares of Teck Resources in a research note on Tuesday, October 31st. Zacks Investment Research cut shares of Teck Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, November 8th. Finally, B. Riley reiterated a “buy” rating on shares of Teck Resources in a research note on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $30.94.

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About Teck Resources

Teck Resources Ltd is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company’s activities are organized into business units that are focused on steelmaking coal, copper, zinc and energy. It operates in five segments: steelmaking coal, copper, zinc, energy and corporate.

Earnings History for Teck Resources (NYSE:TECK)

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