Brokerages Set Teck Resources Ltd (NYSE:TECK) PT at $59.17

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) has received a consensus rating of “Hold” from the nineteen ratings firms that are covering the company, MarketBeat reports. Thirteen equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $59.1667.

TECK has been the subject of a number of research analyst reports. Weiss Ratings raised Teck Resources from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, April 24th. Scotiabank reiterated a “sector perform” rating on shares of Teck Resources in a research note on Tuesday, April 14th. Wall Street Zen upgraded Teck Resources to a “buy” rating in a research report on Saturday, May 16th. Truist Financial set a $67.00 price target on Teck Resources in a research note on Monday, February 23rd. Finally, Benchmark upped their target price on shares of Teck Resources from $48.00 to $67.00 and gave the company a “buy” rating in a report on Monday, February 23rd.

Teck Resources Stock Performance

Shares of TECK stock opened at $62.59 on Wednesday. The stock has a market capitalization of $30.17 billion, a PE ratio of 22.93, a P/E/G ratio of 4.62 and a beta of 0.86. The company has a quick ratio of 2.16, a current ratio of 2.83 and a debt-to-equity ratio of 0.13. Teck Resources has a 52 week low of $30.98 and a 52 week high of $67.67. The firm has a 50 day moving average of $56.30 and a two-hundred day moving average of $51.87.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Thursday, February 19th. The basic materials company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.39. Teck Resources had a return on equity of 7.94% and a net margin of 14.91%.The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the previous year, the company posted $0.45 earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, research analysts predict that Teck Resources will post 2.68 EPS for the current fiscal year.

Teck Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, June 15th. Teck Resources’s dividend payout ratio is presently 13.55%.

Institutional Trading of Teck Resources

Hedge funds have recently added to or reduced their stakes in the business. Brown Brothers Harriman & Co. acquired a new stake in shares of Teck Resources in the fourth quarter worth approximately $25,000. Geneos Wealth Management Inc. raised its stake in Teck Resources by 117.4% during the first quarter. Geneos Wealth Management Inc. now owns 561 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 303 shares during the period. Blue Trust Inc. boosted its holdings in shares of Teck Resources by 411.8% in the 1st quarter. Blue Trust Inc. now owns 563 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 453 shares during the last quarter. Versant Capital Management Inc purchased a new stake in shares of Teck Resources during the 3rd quarter valued at $26,000. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Teck Resources by 72.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock worth $37,000 after buying an additional 351 shares during the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

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.