Teck Resources Ltd (NYSE:TECK) (TSE:TECK) has been assigned an average recommendation of “Buy” from the nineteen ratings firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $29.64.
TECK has been the subject of several analyst reports. Berenberg Bank reissued a “buy” rating and issued a $27.50 target price on shares of Teck Resources in a research note on Tuesday, October 31st. BidaskClub downgraded shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 28th. ValuEngine downgraded shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 18th. Deutsche Bank reaffirmed a “buy” rating and set a $26.00 price objective (up previously from $24.00) on shares of Teck Resources in a research note on Monday, September 25th. Finally, MKM Partners reaffirmed a “buy” rating and set a $30.00 price objective on shares of Teck Resources in a research note on Wednesday, September 20th.
Teck Resources (NYSE TECK) opened at $30.23 on Friday. Teck Resources has a one year low of $14.56 and a one year high of $30.29. The firm has a market cap of $17,550.00, a PE ratio of 8.94, a P/E/G ratio of 1.52 and a beta of 1.31. The company has a quick ratio of 1.42, a current ratio of 2.17 and a debt-to-equity ratio of 0.32.
The company also recently announced a special dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were issued a dividend of $0.3141 per share. This represents a dividend yield of 0.72%. The ex-dividend date was Thursday, December 14th. Teck Resources’s payout ratio is currently 4.73%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. purchased a new position in Teck Resources in the 2nd quarter worth approximately $124,000. Tower Research Capital LLC TRC purchased a new position in Teck Resources in the 2nd quarter worth approximately $164,000. Investment Centers of America Inc. purchased a new position in Teck Resources in the 2nd quarter worth approximately $194,000. Private Advisor Group LLC purchased a new position in Teck Resources in the 3rd quarter worth approximately $200,000. Finally, Shelton Capital Management purchased a new position in Teck Resources in the 2nd quarter worth approximately $202,000. Hedge funds and other institutional investors own 54.25% 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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