Teck Resources Ltd (NYSE:TECK) Receives $62.25 Consensus Target Price from Analysts

Shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) have received a consensus rating of “Hold” from the thirteen ratings firms that are currently covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $62.25.

Several research analysts recently commented on TECK shares. TD Securities reissued a “hold” rating on shares of Teck Resources in a research note on Friday, April 24th. JPMorgan Chase & Co. lifted their price objective on Teck Resources from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, July 28th. Raymond James Financial raised Teck Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday, July 23rd. Scotiabank restated a “sector perform” rating on shares of Teck Resources in a report on Monday, June 15th. Finally, Wall Street Zen downgraded shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 26th.

Teck Resources Stock Up 0.1%

Teck Resources stock opened at $66.53 on Monday. The firm has a market capitalization of $32.13 billion, a P/E ratio of 18.03, a P/E/G ratio of 1.95 and a beta of 0.92. The company has a current ratio of 3.12, a quick ratio of 2.33 and a debt-to-equity ratio of 0.12. Teck Resources has a twelve month low of $30.98 and a twelve month high of $71.25. The stock’s fifty day simple moving average is $61.27 and its 200-day simple moving average is $58.36.

Teck Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Teck Resources’s dividend payout ratio is currently 9.76%.

Institutional Investors Weigh In On Teck Resources

Several institutional investors have recently added to or reduced their stakes in the business. Welch Group LLC lifted its holdings in shares of Teck Resources by 3.5% during the fourth quarter. Welch Group LLC now owns 5,899 shares of the basic materials company’s stock worth $283,000 after purchasing an additional 199 shares during the period. Geneos Wealth Management Inc. raised its position in Teck Resources by 117.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 561 shares of the basic materials company’s stock worth $29,000 after buying an additional 303 shares during the last quarter. Compound Planning Inc. raised its position in Teck Resources by 1.0% during the 4th quarter. Compound Planning Inc. now owns 32,266 shares of the basic materials company’s stock worth $1,545,000 after buying an additional 333 shares during the last quarter. 44 Wealth Management LLC lifted its stake in shares of Teck Resources by 1.3% in the 4th quarter. 44 Wealth Management LLC now owns 31,488 shares of the basic materials company’s stock worth $1,508,000 after acquiring an additional 411 shares during the period. Finally, NewEdge Advisors LLC lifted its stake in shares of Teck Resources by 5.5% in the 3rd quarter. NewEdge Advisors LLC now owns 8,635 shares of the basic materials company’s stock worth $379,000 after acquiring an additional 452 shares during the period. Hedge funds and other institutional investors own 78.06% of the company’s stock.

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.