Teck Resources Limited (NYSE:TECK) Given Consensus Rating of “Moderate Buy” by Brokerages

Teck Resources Limited (NYSE:TECK) (TSE:TECK) has earned a consensus rating of “Moderate Buy” from the eleven ratings firms that are covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $65.29.

Several analysts have issued reports on the stock. Citigroup upgraded shares of Teck Resources to a “hold” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. reduced their target price on Teck Resources from $57.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. UBS Group cut Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. Scotiabank raised their target price on shares of Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research note on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a research report on Friday, October 25th.

Teck Resources Stock Performance

Shares of NYSE TECK opened at $42.09 on Wednesday. The stock’s 50-day moving average is $47.40 and its 200 day moving average is $47.85. The stock has a market cap of $21.56 billion, a price-to-earnings ratio of 63.77 and a beta of 1.03. Teck Resources has a 1-year low of $36.50 and a 1-year high of $55.13. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.24. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same period in the previous year, the business posted $0.57 EPS. The business’s quarterly revenue was down 20.6% on a year-over-year basis. On average, sell-side analysts anticipate that Teck Resources will post 1.81 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a $0.0895 dividend. This represents a $0.36 annualized dividend and a yield of 0.85%. The ex-dividend date is Friday, December 13th. Teck Resources’s payout ratio is currently 56.06%.

Institutional Trading of Teck Resources

Large investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its holdings in shares of Teck Resources by 11.4% in the 3rd quarter. Franklin Resources Inc. now owns 324,870 shares of the basic materials company’s stock valued at $16,724,000 after acquiring an additional 33,235 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Teck Resources during the third quarter worth $40,000. Sanctuary Advisors LLC boosted its stake in shares of Teck Resources by 187.8% during the third quarter. Sanctuary Advisors LLC now owns 30,840 shares of the basic materials company’s stock valued at $1,611,000 after purchasing an additional 20,124 shares during the period. SkyView Investment Advisors LLC lifted its holdings in Teck Resources by 4.7% during the 3rd quarter. SkyView Investment Advisors LLC now owns 14,958 shares of the basic materials company’s stock valued at $781,000 after buying an additional 675 shares in the last quarter. Finally, TCW Group Inc. purchased a new stake in Teck Resources in the 3rd quarter valued at about $577,000. Institutional investors own 78.06% of the company’s stock.

About Teck Resources

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.