Teck Resources (NYSE:TECK) Hits New 1-Year High – What’s Next?

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) hit a new 52-week high on Wednesday . The company traded as high as $66.94 and last traded at $67.3690, with a volume of 401188 shares changing hands. The stock had previously closed at $65.97.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Benchmark raised their price objective on Teck Resources from $48.00 to $67.00 and gave the stock a “buy” rating in a research note on Monday, February 23rd. Citigroup raised shares of Teck Resources from a “neutral” rating to a “buy” rating in a report on Monday, February 2nd. Raymond James Financial downgraded shares of Teck Resources from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 14th. Veritas raised shares of Teck Resources from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 15th. Finally, Weiss Ratings upgraded shares of Teck Resources from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $59.17.

Teck Resources Stock Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 2.83 and a quick ratio of 2.16. The stock has a fifty day moving average price of $54.87 and a two-hundred day moving average price of $50.82. The company has a market cap of $31.91 billion, a P/E ratio of 24.26, a PEG ratio of 4.78 and a beta of 0.86.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Thursday, February 19th. The basic materials company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.39. Teck Resources had a return on equity of 7.94% and a net margin of 14.91%.The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the previous year, the business earned $0.45 EPS. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, equities analysts forecast that Teck Resources Ltd will post 2.68 earnings per share for the current fiscal year.

Teck Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, June 15th. Teck Resources’s dividend payout ratio is currently 13.55%.

Institutional Investors Weigh In On Teck Resources

A number of institutional investors have recently added to or reduced their stakes in TECK. Welch Group LLC grew its holdings in shares of Teck Resources by 3.5% in the 4th quarter. Welch Group LLC now owns 5,899 shares of the basic materials company’s stock valued at $283,000 after buying an additional 199 shares during the period. ASR Vermogensbeheer N.V. lifted its holdings in Teck Resources by 1.6% during the third quarter. ASR Vermogensbeheer N.V. now owns 16,721 shares of the basic materials company’s stock worth $734,000 after acquiring an additional 270 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in Teck Resources by 117.4% during the first quarter. Geneos Wealth Management Inc. now owns 561 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 303 shares in the last quarter. Compound Planning Inc. grew its stake in Teck Resources by 1.0% in the fourth quarter. Compound Planning Inc. now owns 32,266 shares of the basic materials company’s stock valued at $1,545,000 after acquiring an additional 333 shares during the period. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Teck Resources by 72.4% in the third quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 351 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Company Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.