Teck Resources (NYSE:TECK) Hits New 52-Week High at $27.07

Teck Resources Limited (NYSE:TECK) (TSE:TECK)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $27.07 and last traded at $26.40, with a volume of 158509 shares. The stock had previously closed at $25.84.

Several equities analysts recently weighed in on TECK shares. Canaccord Genuity boosted their price objective on Teck Resources from C$26.50 to C$28.00 and gave the stock a “hold” rating in a research report on Thursday, July 15th. Morgan Stanley upped their price objective on Teck Resources from $27.50 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, July 28th. Deutsche Bank Aktiengesellschaft raised Teck Resources from a “hold” rating to a “buy” rating and increased their price target for the company from $20.00 to $30.00 in a research note on Wednesday, May 26th. CIBC raised their price objective on Teck Resources from C$33.00 to C$34.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 25th. Finally, Raymond James increased their target price on Teck Resources from C$35.00 to C$37.00 and gave the stock an “outperform” rating in a report on Wednesday, July 28th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $30.81.

The business’s 50 day simple moving average is $22.48 and its two-hundred day simple moving average is $22.30. The stock has a market cap of $13.81 billion, a P/E ratio of 103.36 and a beta of 1.27. The company has a quick ratio of 0.58, a current ratio of 1.26 and a debt-to-equity ratio of 0.33.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Tuesday, July 27th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.13. Teck Resources had a net margin of 1.83% and a return on equity of 5.02%. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same quarter in the previous year, the business earned $0.17 earnings per share. Teck Resources’s revenue for the quarter was up 48.7% on a year-over-year basis. As a group, research analysts forecast that Teck Resources Limited will post 2.78 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 29th. Stockholders of record on Wednesday, September 15th will be given a dividend of $0.0397 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend is Tuesday, September 14th. Teck Resources’s dividend payout ratio is currently 21.79%.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Amundi Pioneer Asset Management Inc. grew its holdings in Teck Resources by 72.9% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 360,876 shares of the basic materials company’s stock worth $8,365,000 after acquiring an additional 152,124 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Teck Resources by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,389,713 shares of the basic materials company’s stock valued at $79,673,000 after acquiring an additional 86,963 shares during the period. Janney Montgomery Scott LLC lifted its position in Teck Resources by 24.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 29,195 shares of the basic materials company’s stock valued at $560,000 after acquiring an additional 5,782 shares during the period. Comerica Bank lifted its position in Teck Resources by 3.4% during the 1st quarter. Comerica Bank now owns 29,902 shares of the basic materials company’s stock valued at $655,000 after acquiring an additional 983 shares during the period. Finally, US Bancorp DE raised its holdings in Teck Resources by 3.5% in the first quarter. US Bancorp DE now owns 29,402 shares of the basic materials company’s stock worth $564,000 after buying an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 45.45% of the company’s stock.

Teck Resources Company Profile (NYSE:TECK)

Teck Resources Ltd. is a resource company, which engages in mining and development of mineral properties. It organized into business units focused on steelmaking coal, copper, zinc, and energy. The firm also offers lead, silver, molybdenum and various specialty and other metals, chemicals and fertilizers.

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