Analysts Set Teck Resources Limited (NYSE:TECK) Target Price at $65.29

Shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) have earned a consensus rating of “Moderate Buy” from the ten analysts that are currently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $65.29.

TECK has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price target on Teck Resources from $57.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft downgraded Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a research note on Friday, October 25th. UBS Group cut shares of Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Citigroup upgraded Teck Resources to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Scotiabank boosted their price target on shares of Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research report on Tuesday, October 8th.

Teck Resources Trading Down 1.0 %

Shares of NYSE TECK opened at $46.65 on Friday. The stock has a market cap of $23.47 billion, a P/E ratio of 70.68 and a beta of 1.04. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. Teck Resources has a 52-week low of $35.25 and a 52-week high of $55.13. The firm has a 50 day moving average price of $48.87 and a two-hundred day moving average price of $48.61.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.36 by $0.24. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. The company had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter last year, the firm posted $0.57 EPS. The company’s quarterly revenue was down 20.6% on a year-over-year basis. As a group, equities analysts forecast that Teck Resources will post 1.84 EPS for the current year.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a $0.0895 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.77%. Teck Resources’s dividend payout ratio is currently 56.06%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TECK. Headlands Technologies LLC bought a new position in shares of Teck Resources in the second quarter worth approximately $38,000. Eastern Bank bought a new stake in Teck Resources during the third quarter valued at about $39,000. Bruce G. Allen Investments LLC lifted its holdings in Teck Resources by 77.4% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 383 shares in the last quarter. Blue Trust Inc. boosted its stake in Teck Resources by 583.1% in the 2nd quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 898 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its holdings in Teck Resources by 69.7% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock valued at $52,000 after buying an additional 409 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Company Profile

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.