Teck Resources Ltd (NYSE:TECK) (TSE:TECK) – Analysts at National Bank Financial decreased their FY2021 EPS estimates for Teck Resources in a research note issued to investors on Sunday, March 22nd. National Bank Financial analyst S. Nagle now anticipates that the basic materials company will earn $1.19 per share for the year, down from their previous forecast of $1.25.
Other equities analysts also recently issued reports about the company. Citigroup upgraded Teck Resources from a “neutral” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Monday, December 16th. B. Riley assumed coverage on Teck Resources in a research report on Thursday, January 9th. They set a “buy” rating and a $35.00 target price on the stock. ValuEngine upgraded Teck Resources from a “sell” rating to a “hold” rating in a research report on Tuesday. Royal Bank of Canada lowered their target price on Teck Resources from $28.00 to $24.00 and set an “outperform” rating on the stock in a research report on Wednesday. They noted that the move was a valuation call. Finally, Benchmark assumed coverage on Teck Resources in a research report on Monday, March 2nd. They set a “buy” rating and a $14.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $22.96.
NYSE TECK opened at $7.53 on Wednesday. The company has a market capitalization of $4.16 billion, a PE ratio of 18.83, a price-to-earnings-growth ratio of 2.55 and a beta of 1.49. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 1.62. The business’s fifty day moving average is $10.54 and its 200 day moving average is $14.86. Teck Resources has a fifty-two week low of $5.60 and a fifty-two week high of $25.75.
Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Friday, February 21st. The basic materials company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.04). The company had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Teck Resources had a net margin of 2.79% and a return on equity of 7.03%.
A number of large investors have recently bought and sold shares of TECK. Advisory Services Network LLC raised its holdings in Teck Resources by 47.6% during the fourth quarter. Advisory Services Network LLC now owns 2,501 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 806 shares during the period. Aigen Investment Management LP bought a new stake in Teck Resources during the fourth quarter valued at about $56,000. Bessemer Group Inc. increased its holdings in shares of Teck Resources by 60,907.1% in the fourth quarter. Bessemer Group Inc. now owns 8,541 shares of the basic materials company’s stock worth $148,000 after purchasing an additional 8,527 shares during the last quarter. Stevens Capital Management LP bought a new stake in shares of Teck Resources in the fourth quarter worth about $181,000. Finally, Virtu Financial LLC bought a new stake in shares of Teck Resources in the third quarter worth about $186,000. 49.69% of the stock is currently owned by institutional investors and hedge funds.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be issued a dividend of $0.0377 per share. The ex-dividend date is Thursday, March 12th. This represents a $0.15 dividend on an annualized basis and a yield of 2.00%. Teck Resources’s dividend payout ratio is presently 6.76%.
About Teck Resources
Teck Resources Limited researches, explores for, develops, and produces natural resources in the Asia Pacific, the Americas, and Europe. It operates through five segments: Steelmaking, Coal, Copper, Zinc, Energy, and Corporate. The company's principal products include steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.
Further Reading: 52- Week Highs
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