Teck Resources Limited (NYSE:TECK) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) have received an average rating of “Moderate Buy” from the sixteen analysts that are currently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $64.11.

A number of equities analysts recently commented on TECK shares. Desjardins started coverage on shares of Teck Resources in a research note on Friday, April 4th. They set a “buy” rating for the company. BMO Capital Markets started coverage on shares of Teck Resources in a research note on Wednesday, April 16th. They set an “outperform” rating for the company. Veritas upgraded shares of Teck Resources to a “hold” rating in a research note on Friday, April 11th. National Bankshares upgraded shares of Teck Resources from a “sector perform” rating to an “outperform” rating in a research note on Thursday, April 24th. Finally, Raymond James lowered their target price on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, January 22nd.

Institutional Investors Weigh In On Teck Resources

A number of institutional investors and hedge funds have recently made changes to their positions in TECK. Norges Bank purchased a new stake in shares of Teck Resources in the fourth quarter valued at about $470,101,000. Principal Financial Group Inc. raised its holdings in shares of Teck Resources by 56.9% in the first quarter. Principal Financial Group Inc. now owns 11,530,742 shares of the basic materials company’s stock valued at $419,970,000 after buying an additional 4,180,623 shares during the last quarter. Swedbank AB purchased a new stake in shares of Teck Resources in the fourth quarter valued at about $103,878,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Teck Resources in the fourth quarter valued at about $65,197,000. Finally, AMF Tjanstepension AB raised its holdings in shares of Teck Resources by 32.2% in the fourth quarter. AMF Tjanstepension AB now owns 6,020,023 shares of the basic materials company’s stock valued at $244,252,000 after buying an additional 1,467,516 shares during the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

Teck Resources Stock Performance

NYSE:TECK opened at $35.65 on Friday. The company has a fifty day simple moving average of $36.10 and a two-hundred day simple moving average of $40.82. The company has a market cap of $17.57 billion, a price-to-earnings ratio of 64.82 and a beta of 0.79. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. Teck Resources has a 52 week low of $28.32 and a 52 week high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its earnings results on Thursday, April 24th. The basic materials company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.18. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $2.19 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The company’s revenue was up 41.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.75 earnings per share. As a group, equities analysts anticipate that Teck Resources will post 1.53 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a $0.0901 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.01%. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. The ex-dividend date is Monday, June 16th. Teck Resources’s dividend payout ratio is presently 58.62%.

About Teck Resources

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.