Teck Resources Ltd (NYSE:TECK) Given Average Rating of “Hold” by Brokerages

Shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) have been given an average rating of “Hold” by the twenty-three ratings firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, thirteen have assigned a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $55.7143.

A number of research firms have recently issued reports on TECK. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $46.00 price objective on shares of Teck Resources in a research report on Wednesday, November 26th. Raymond James Financial reiterated an “outperform” rating on shares of Teck Resources in a research note on Friday, October 10th. Canaccord Genuity Group lowered shares of Teck Resources from a “buy” rating to a “hold” rating in a report on Wednesday, October 8th. UBS Group upgraded shares of Teck Resources from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 3rd. Finally, Weiss Ratings raised shares of Teck Resources from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, October 24th.

Hedge Funds Weigh In On Teck Resources

A number of hedge funds have recently modified their holdings of TECK. Versant Capital Management Inc bought a new position in shares of Teck Resources during the 3rd quarter worth approximately $26,000. Smartleaf Asset Management LLC raised its stake in Teck Resources by 69.2% during the first quarter. Smartleaf Asset Management LLC now owns 856 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 350 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Teck Resources during the second quarter valued at $49,000. SouthState Bank Corp bought a new position in shares of Teck Resources during the third quarter valued at $50,000. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of Teck Resources by 102.5% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,320 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 668 shares in the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Teck Resources Stock Performance

NYSE:TECK opened at $47.82 on Friday. The firm’s 50-day moving average is $43.05 and its 200-day moving average is $39.60. The company has a market cap of $22.98 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 0.69 and a beta of 0.83. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.08 and a current ratio of 2.78. Teck Resources has a 52-week low of $28.32 and a 52-week high of $48.57.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Wednesday, October 22nd. The basic materials company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.16. Teck Resources had a return on equity of 4.14% and a net margin of 11.93%.The business had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same period last year, the business earned $0.60 earnings per share. The firm’s revenue for the quarter was up 18.4% compared to the same quarter last year. Equities research analysts anticipate that Teck Resources will post 1.53 earnings per share for the current year.

Teck Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be paid a dividend of $0.125 per share. This is a positive change from Teck Resources’s previous quarterly dividend of $0.09. This represents a $0.50 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Monday, December 15th. Teck Resources’s dividend payout ratio is 19.66%.

Teck Resources Company Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.