Teck Resources Ltd (NYSE:TECK) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) have been given a consensus recommendation of “Hold” by the nineteen ratings firms that are covering the firm, Marketbeat.com reports. Thirteen analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $59.1667.

Several research analysts recently weighed in on TECK shares. Zacks Research downgraded shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Benchmark boosted their target price on shares of Teck Resources from $48.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, February 23rd. TD Securities reissued a “hold” rating on shares of Teck Resources in a research note on Friday, April 24th. UBS Group reissued a “buy” rating on shares of Teck Resources in a research note on Tuesday, January 27th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Teck Resources from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, May 1st.

Teck Resources Trading Down 0.1%

Shares of TECK stock opened at $62.59 on Wednesday. The firm has a 50-day moving average price of $56.30 and a 200 day moving average price of $51.93. Teck Resources has a twelve month low of $30.98 and a twelve month high of $67.67. The company has a market capitalization of $30.17 billion, a price-to-earnings ratio of 22.93, a PEG ratio of 4.59 and a beta of 0.86. The company has a current ratio of 2.83, a quick ratio of 2.16 and a debt-to-equity ratio of 0.13.

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

Teck Resources Dividend Announcement

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

Institutional Trading of Teck Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Amundi grew its holdings in Teck Resources by 71.0% in the 1st quarter. Amundi now owns 1,424,706 shares of the basic materials company’s stock valued at $73,729,000 after buying an additional 591,600 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Teck Resources by 52.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,987 shares of the basic materials company’s stock valued at $155,000 after buying an additional 1,026 shares during the period. Recurrent Investment Advisors LLC grew its holdings in Teck Resources by 2.8% in the 1st quarter. Recurrent Investment Advisors LLC now owns 40,394 shares of the basic materials company’s stock valued at $2,090,000 after buying an additional 1,100 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Teck Resources by 10.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 3,213,104 shares of the basic materials company’s stock valued at $166,375,000 after buying an additional 309,203 shares during the period. Finally, Maverick Capital Ltd. purchased a new stake in Teck Resources in the 1st quarter valued at about $1,427,000. 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.