Teck Resources (NYSE:TECK) (TSE:TECK) – Equities researchers at Seaport Global Securities issued their Q3 2019 earnings per share estimates for shares of Teck Resources in a note issued to investors on Thursday, April 5th. Seaport Global Securities analyst M. Levin anticipates that the basic materials company will earn $0.63 per share for the quarter. Seaport Global Securities currently has a “Hold” rating on the stock. Seaport Global Securities also issued estimates for Teck Resources’ Q4 2019 earnings at $0.64 EPS.
A number of other research firms also recently commented on TECK. Clarkson Capital downgraded Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, January 15th. Macquarie downgraded Teck Resources from an “outperform” rating to a “neutral” rating in a research note on Tuesday, February 20th. They noted that the move was a valuation call. Bank of America downgraded Teck Resources to a “hold” rating in a research note on Tuesday, February 20th. They noted that the move was a valuation call. ValuEngine upgraded Teck Resources from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 13th. Finally, Zacks Investment Research cut shares of Teck Resources from a “buy” rating to a “hold” rating in a report on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $30.35.
NYSE:TECK opened at $26.14 on Monday. The stock has a market capitalization of $14,815.68, a P/E ratio of 7.62, a PEG ratio of 0.69 and a beta of 1.50. Teck Resources has a one year low of $14.56 and a one year high of $30.80. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.81 and a quick ratio of 1.19.
Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Wednesday, February 14th. The basic materials company reported $0.95 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.06). The business had revenue of $3.21 billion for the quarter, compared to analyst estimates of $3.28 billion. Teck Resources had a net margin of 20.83% and a return on equity of 13.69%. The firm’s revenue was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.61 earnings per share.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bartlett & Co. LLC bought a new stake in Teck Resources during the fourth quarter worth approximately $118,000. We Are One Seven LLC bought a new stake in Teck Resources during the fourth quarter worth approximately $162,000. C M Bidwell & Associates Ltd. bought a new stake in Teck Resources during the fourth quarter worth approximately $199,000. Private Advisor Group LLC bought a new stake in Teck Resources during the third quarter worth approximately $200,000. Finally, Cigna Investments Inc. New bought a new stake in Teck Resources during the fourth quarter worth approximately $204,000. 54.29% of the stock is currently owned by institutional investors.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date was Wednesday, March 14th. This is a boost from Teck Resources’s previous quarterly dividend of $0.04. Teck Resources’s payout ratio is 4.66%.
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About Teck Resources
Teck Resources Limited researches, explores for, develops, and produces natural resources in the Americas, the Asia Pacific, and Europe. It operates through five segments: Steelmaking Coal, Copper, Zinc, Energy, and Corporate. The company's principal products comprise steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.
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