ValuEngine lowered shares of Teck Resources (NYSE:TECK) (TSE:TECK) from a buy rating to a hold rating in a research note released on Tuesday.
Several other equities analysts have also recently issued reports on TECK. Morgan Stanley lifted their price target on Teck Resources from $23.00 to $25.00 and gave the company an equal weight rating in a research report on Wednesday, February 28th. Seaport Global Securities initiated coverage on Teck Resources in a research report on Friday, March 2nd. They set a hold rating on the stock. Zacks Investment Research upgraded Teck Resources from a hold rating to a buy rating and set a $31.00 price target on the stock in a research report on Wednesday, March 7th. Goldman Sachs Group initiated coverage on Teck Resources in a research report on Tuesday, March 20th. They set a neutral rating and a $31.00 price target on the stock. Finally, Macquarie upgraded Teck Resources from a neutral rating to an outperform rating in a research report on Tuesday, March 27th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $30.83.
Shares of Teck Resources opened at $24.66 on Tuesday, MarketBeat Ratings reports. Teck Resources has a 1 year low of $16.73 and a 1 year high of $30.80. The firm has a market cap of $14.15 billion, a PE ratio of 7.19, a PEG ratio of 0.67 and a beta of 1.54. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.38 and a current ratio of 2.14.
Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Tuesday, April 24th. The basic materials company reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.04). Teck Resources had a net margin of 22.03% and a return on equity of 13.66%. The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.17 billion. During the same quarter last year, the business posted $1.16 earnings per share. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. research analysts expect that Teck Resources will post 3.59 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be issued a $0.039 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend is Thursday, June 14th. Teck Resources’s payout ratio is 4.37%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Signaturefd LLC acquired a new position in shares of Teck Resources in the 1st quarter worth $160,000. We Are One Seven LLC acquired a new position in shares of Teck Resources in the 4th quarter worth $162,000. Seven Eight Capital LP acquired a new position in shares of Teck Resources in the 1st quarter worth $223,000. Bayesian Capital Management LP purchased a new position in shares of Teck Resources during the first quarter valued at $247,000. Finally, Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of Teck Resources by 25.3% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,342 shares of the basic materials company’s stock valued at $266,000 after buying an additional 2,088 shares in the last quarter. Institutional investors and hedge funds own 55.18% of the company’s stock.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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