Teck Resources Ltd (NYSE:TECK) (TSE:TECK) – Equities research analysts at B. Riley upped their FY2018 earnings per share estimates for shares of Teck Resources in a research report issued on Thursday. B. Riley analyst L. Pipes now anticipates that the basic materials company will post earnings per share of $2.18 for the year, up from their prior estimate of $1.63. B. Riley has a “Buy” rating on the stock.
A number of other equities research analysts have also recently issued reports on the stock. CIBC initiated coverage on shares of Teck Resources in a report on Friday, November 17th. They issued a “sector outperform” rating on the stock. Zacks Investment Research upgraded shares of Teck Resources from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Thursday, November 9th. BidaskClub upgraded shares of Teck Resources from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 13th. MKM Partners restated a “buy” rating and set a $28.00 target price (up previously from $25.00) on shares of Teck Resources in a research report on Thursday, August 24th. Finally, ValuEngine upgraded shares of Teck Resources from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nineteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $30.65.
Shares of Teck Resources (TECK) traded down $0.68 during midday trading on Monday, reaching $22.85. 5,495,148 shares of the company were exchanged, compared to its average volume of 5,042,716. The firm has a market cap of $13,298.35, a price-to-earnings ratio of 6.33, a PEG ratio of 0.85 and a beta of 1.31. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.42 and a current ratio of 2.17. Teck Resources has a 12-month low of $14.56 and a 12-month high of $33.76.
The firm also recently declared a special dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.3141 per share. This represents a dividend yield of 0.72%. The ex-dividend date is Thursday, December 14th. Teck Resources’s payout ratio is currently 2.53%.
A number of large investors have recently bought and sold shares of TECK. Letko Brosseau & Associates Inc. acquired a new stake in Teck Resources in the second quarter worth $237,787,000. Impala Asset Management LLC acquired a new position in shares of Teck Resources during the second quarter valued at about $217,614,000. Capital Research Global Investors acquired a new position in shares of Teck Resources during the second quarter valued at about $187,626,000. Vanguard Group Inc. acquired a new position in shares of Teck Resources during the second quarter valued at about $182,655,000. Finally, TD Asset Management Inc. acquired a new position in shares of Teck Resources during the second quarter valued at about $146,189,000. Institutional investors and hedge funds own 54.26% of the company’s stock.
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About Teck Resources
Teck Resources Ltd is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company’s activities are organized into business units that are focused on steelmaking coal, copper, zinc and energy. It operates in five segments: steelmaking coal, copper, zinc, energy and corporate.
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