Teck Resources Ltd (NYSE:TECK) Receives $59.17 Consensus Target Price from Brokerages

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) has received an average recommendation of “Hold” from the nineteen analysts that are presently covering the stock, Marketbeat reports. Fourteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $59.1667.

A number of research analysts recently commented on TECK shares. Veritas lowered shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 4th. Weiss Ratings raised Teck Resources from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, April 24th. Zacks Research cut Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Teck Resources in a report on Friday, May 15th. Finally, Scotiabank reissued a “sector perform” rating on shares of Teck Resources in a report on Monday.

Teck Resources Price Performance

NYSE:TECK opened at $64.51 on Friday. Teck Resources has a 1-year low of $30.98 and a 1-year high of $71.25. The company has a current ratio of 2.83, a quick ratio of 2.16 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $61.99 and a 200 day simple moving average of $55.10. The stock has a market capitalization of $31.10 billion, a PE ratio of 23.63, a P/E/G ratio of 3.98 and a beta of 0.89.

Teck Resources Announces Dividend

The company also recently announced 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. This represents a $0.50 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Monday, June 15th. Teck Resources’s dividend payout ratio is presently 13.19%.

Institutional Investors Weigh In On Teck Resources

Institutional investors have recently made changes to their positions in the stock. Brown Brothers Harriman & Co. bought a new stake in shares of Teck Resources in the 4th quarter valued at about $25,000. Geneos Wealth Management Inc. lifted its stake in shares of Teck Resources by 117.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 561 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 303 shares during the period. Blue Trust Inc. lifted its stake 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 period. Smartleaf Asset Management LLC lifted its stake in shares of Teck Resources by 72.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 351 shares during the period. Finally, Oslo Pensjonsforsikring AS bought a new stake in Teck Resources in the 1st quarter valued at about $83,000. Institutional investors own 78.06% of the company’s stock.

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.