Teck Resources Ltd (NYSE:TECK) (TSE:TECK) gapped down before the market opened on Tuesday . The stock had previously closed at $30.51, but opened at $29.75. Teck Resources shares last traded at $28.96, with a volume of 3759825 shares changing hands.
Several research firms have commented on TECK. B. Riley restated a “buy” rating on shares of Teck Resources in a research report on Wednesday, November 1st. Macquarie cut shares of Teck Resources from an “outperform” rating to a “neutral” rating in a research report on Tuesday. They noted that the move was a valuation call. Zacks Investment Research cut shares of Teck Resources from a “buy” rating to a “hold” rating in a research report on Tuesday. Bank of America set a $36.00 target price on shares of Teck Resources and gave the stock a “buy” rating in a research report on Friday, February 9th. Finally, BidaskClub cut shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $30.94.
The company has a current ratio of 1.81, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32. The firm has a market cap of $16,521.68, a price-to-earnings ratio of 8.92, a PEG ratio of 1.13 and a beta of 1.40.
Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Wednesday, February 14th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.06). The company had revenue of $3.21 billion during the quarter, compared to the consensus estimate of $3.28 billion. Teck Resources had a net margin of 20.83% and a return on equity of 13.69%. The company’s revenue was down 9.8% on a year-over-year basis. During the same quarter last year, the business earned $1.61 earnings per share. sell-side analysts predict that Teck Resources Ltd will post 3.53 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be issued a $0.04 dividend. The ex-dividend date is Wednesday, March 14th. This is a boost from Teck Resources’s previous quarterly dividend of $0.04. This represents a $0.16 annualized dividend and a dividend yield of 0.55%. Teck Resources’s dividend payout ratio (DPR) is 4.85%.
A number of hedge funds have recently added to or reduced their stakes in TECK. Capital Growth Management LP acquired a new stake in Teck Resources during the fourth quarter valued at approximately $56,004,000. Allianz Asset Management GmbH lifted its stake in Teck Resources by 104.3% during the third quarter. Allianz Asset Management GmbH now owns 2,225,492 shares of the basic materials company’s stock valued at $46,748,000 after purchasing an additional 1,136,314 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Teck Resources by 30.0% during the third quarter. Dimensional Fund Advisors LP now owns 4,892,000 shares of the basic materials company’s stock valued at $103,172,000 after purchasing an additional 1,128,428 shares during the last quarter. Waratah Capital Advisors Ltd. lifted its stake in Teck Resources by 164.7% during the fourth quarter. Waratah Capital Advisors Ltd. now owns 1,796,054 shares of the basic materials company’s stock valued at $47,060,000 after purchasing an additional 1,117,445 shares during the last quarter. Finally, Investec Asset Management LTD acquired a new stake in Teck Resources during the third quarter valued at approximately $23,235,000. 53.08% of the stock is owned by institutional investors and hedge funds.
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Teck Resources Company Profile
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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