Teck Resources (NYSE:TECK) Price Target Increased to C$39.00 by Analysts at Raymond James

Teck Resources (NYSE:TECK) (TSE:TECK) had its target price hoisted by Raymond James from C$37.00 to C$39.00 in a research note issued to investors on Wednesday morning, The Fly reports. They currently have an outperform rating on the basic materials company’s stock.

Several other equities research analysts have also commented on the stock. CIBC boosted their price target on shares of Teck Resources from C$33.00 to C$34.00 and gave the stock a neutral rating in a report on Tuesday, May 25th. Morgan Stanley boosted their price target on shares of Teck Resources from $27.50 to $28.00 and gave the stock an overweight rating in a report on Wednesday, July 28th. Credit Suisse Group upped their target price on shares of Teck Resources from C$34.00 to C$42.00 and gave the stock an outperform rating in a report on Wednesday, July 28th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Teck Resources from $30.00 to $32.00 and gave the stock a buy rating in a report on Thursday, September 16th. Finally, Bank of America raised shares of Teck Resources from a neutral rating to a buy rating and upped their target price for the stock from $27.00 to $30.00 in a report on Thursday, July 8th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Teck Resources presently has an average rating of Buy and a consensus price target of $31.23.

Shares of NYSE TECK opened at $24.68 on Wednesday. The firm has a market cap of $12.95 billion, a PE ratio of 98.72 and a beta of 1.27. The firm has a fifty day moving average of $22.67 and a 200 day moving average of $22.43. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.58 and a current ratio of 1.26. Teck Resources has a one year low of $11.91 and a one year high of $27.08.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Tuesday, July 27th. The basic materials company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.50 by $0.13. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.69 billion. Teck Resources had a net margin of 1.83% and a return on equity of 5.02%. The firm’s revenue was up 48.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.17 EPS. On average, equities analysts predict that Teck Resources will post 2.78 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 29th. Stockholders of record on Wednesday, September 15th will be given a dividend of $0.0397 per share. The ex-dividend date of this dividend is Tuesday, September 14th. This represents a $0.16 annualized dividend and a dividend yield of 0.64%. Teck Resources’s payout ratio is 20.51%.

Several hedge funds have recently made changes to their positions in TECK. Quadrant Capital Group LLC boosted its position in shares of Teck Resources by 25.8% during the 1st quarter. Quadrant Capital Group LLC now owns 3,210 shares of the basic materials company’s stock valued at $62,000 after acquiring an additional 658 shares during the last quarter. Eagle Bay Advisors LLC acquired a new position in Teck Resources in the second quarter valued at about $70,000. NEXT Financial Group Inc lifted its position in Teck Resources by 954.9% in the second quarter. NEXT Financial Group Inc now owns 5,000 shares of the basic materials company’s stock valued at $115,000 after buying an additional 4,526 shares during the last quarter. Atlas Capital Advisors LLC acquired a new position in Teck Resources in the first quarter valued at about $126,000. Finally, The PNC Financial Services Group Inc. lifted its position in Teck Resources by 23.7% in the first quarter. The PNC Financial Services Group Inc. now owns 9,539 shares of the basic materials company’s stock valued at $182,000 after buying an additional 1,827 shares during the last quarter. 45.45% of the stock is currently owned by hedge funds and other institutional investors.

Teck Resources Company Profile

Teck Resources Ltd. is a resource company, which engages in mining and development of mineral properties. It organized into business units focused on steelmaking coal, copper, zinc, and energy. The firm also offers lead, silver, molybdenum and various specialty and other metals, chemicals and fertilizers.

See Also: Dividend Yield

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