Teck Resources Ltd (NYSE:TECK) (TSE:TECK) – Stock analysts at National Bank Financial upped their Q4 2018 earnings estimates for shares of Teck Resources in a research report issued to clients and investors on Tuesday, December 4th. National Bank Financial analyst S. Nagle now forecasts that the basic materials company will earn $1.06 per share for the quarter, up from their previous estimate of $1.00.
A number of other brokerages have also commented on TECK. Deutsche Bank set a $34.00 price objective on shares of Teck Resources and gave the company a “buy” rating in a research report on Saturday, September 22nd. ValuEngine raised shares of Teck Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, September 18th. Goldman Sachs Group reaffirmed a “hold” rating on shares of Teck Resources in a research report on Sunday, October 7th. Raymond James reaffirmed a “buy” rating on shares of Teck Resources in a research report on Sunday, October 7th. Finally, Barclays assumed coverage on shares of Teck Resources in a research report on Wednesday, October 10th. They set an “overweight” rating for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $31.43.
Shares of TECK opened at $21.39 on Thursday. The stock has a market cap of $12.32 billion, a PE ratio of 6.24, a P/E/G ratio of 0.61 and a beta of 1.60. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.30 and a quick ratio of 1.39. Teck Resources has a 52 week low of $18.17 and a 52 week high of $30.80.
Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Wednesday, October 24th. The basic materials company reported $0.61 EPS for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.11). The company had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.40 billion. Teck Resources had a net margin of 27.35% and a return on equity of 12.31%.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, December 14th will be paid a $0.038 dividend. The ex-dividend date is Thursday, December 13th. This represents a $0.15 dividend on an annualized basis and a yield of 0.71%. Teck Resources’s payout ratio is currently 4.37%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Marshall Wace North America L.P. bought a new stake in Teck Resources in the third quarter valued at about $1,701,000. Vanguard Group Inc. grew its stake in shares of Teck Resources by 2.2% during the third quarter. Vanguard Group Inc. now owns 12,748,182 shares of the basic materials company’s stock valued at $307,232,000 after purchasing an additional 271,033 shares during the last quarter. Lombard Odier Asset Management USA Corp grew its stake in shares of Teck Resources by 157.8% during the third quarter. Lombard Odier Asset Management USA Corp now owns 185,000 shares of the basic materials company’s stock valued at $4,459,000 after purchasing an additional 505,000 shares during the last quarter. Impala Asset Management LLC lifted its holdings in Teck Resources by 16.3% in the third quarter. Impala Asset Management LLC now owns 15,107,521 shares of the basic materials company’s stock valued at $364,092,000 after buying an additional 2,119,601 shares during the period. Finally, Nordea Investment Management AB acquired a new position in Teck Resources in the third quarter valued at approximately $5,326,000. 53.46% of the stock is currently owned by institutional investors and hedge funds.
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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