Brokerages Set Teck Resources Ltd (NYSE:TECK) PT at $57.00

Shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) have been given an average recommendation of “Moderate Buy” by the twenty analysts that are presently covering the firm, MarketBeat.com reports. Twelve analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $57.00.

Several research analysts have recently weighed in on the company. Scotiabank reaffirmed a “sector perform” rating on shares of Teck Resources in a research note on Tuesday, February 24th. JPMorgan Chase & Co. increased their price objective on shares of Teck Resources from $43.00 to $51.00 and gave the company a “neutral” rating in a report on Friday, December 5th. Citigroup upgraded shares of Teck Resources from a “neutral” rating to a “buy” rating in a research report on Monday, February 2nd. Zacks Research raised shares of Teck Resources from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 23rd. Finally, UBS Group restated a “buy” rating on shares of Teck Resources in a research report on Tuesday, January 27th.

Hedge Funds Weigh In On Teck Resources

Hedge funds and other institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC boosted its stake in shares of Teck Resources by 11.1% in the first quarter. AQR Capital Management LLC now owns 34,705 shares of the basic materials company’s stock worth $1,264,000 after acquiring an additional 3,458 shares during the last quarter. Jones Financial Companies Lllp raised its stake in Teck Resources by 453.0% in the 1st quarter. Jones Financial Companies Lllp now owns 9,721 shares of the basic materials company’s stock valued at $354,000 after purchasing an additional 7,963 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Teck Resources by 1.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 465,861 shares of the basic materials company’s stock valued at $16,971,000 after purchasing an additional 8,146 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in Teck Resources by 4.5% in the 2nd quarter. Hsbc Holdings PLC now owns 333,782 shares of the basic materials company’s stock valued at $13,514,000 after purchasing an additional 14,382 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ purchased a new position in Teck Resources in the 2nd quarter valued at $153,000. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Trading Down 0.8%

Shares of Teck Resources stock opened at $52.78 on Tuesday. The firm has a 50-day simple moving average of $54.44 and a two-hundred day simple moving average of $47.75. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.54. Teck Resources has a fifty-two week low of $28.32 and a fifty-two week high of $62.41. The company has a market cap of $25.41 billion, a P/E ratio of 26.13, a price-to-earnings-growth ratio of 2.81 and a beta of 0.85.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its earnings results on Thursday, February 19th. The basic materials company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.39. Teck Resources had a return on equity of 5.90% and a net margin of 12.98%.The firm had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same period last year, the firm earned $0.45 EPS. The company’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, equities analysts predict that Teck Resources will post 1.53 earnings per share for the current fiscal year.

Teck Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 0.9%. The ex-dividend date was Friday, March 13th. Teck Resources’s payout ratio is 18.32%.

About Teck Resources

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.