Zacks Research Reduces Earnings Estimates for Teck Resources

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) – Investment analysts at Zacks Research dropped their Q2 2027 earnings estimates for shares of Teck Resources in a report released on Tuesday, June 30th. Zacks Research analyst Team now expects that the basic materials company will earn $0.46 per share for the quarter, down from their prior forecast of $0.47. Zacks Research has a “Hold” rating on the stock. The consensus estimate for Teck Resources’ current full-year earnings is $3.31 per share. Zacks Research also issued estimates for Teck Resources’ Q3 2027 earnings at $0.63 EPS and FY2027 earnings at $2.26 EPS.

TECK has been the subject of several other reports. Scotiabank reiterated a “sector perform” rating on shares of Teck Resources in a report on Monday, June 15th. Veritas downgraded Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Teck Resources in a research report on Friday, May 15th. TD Securities reaffirmed a “hold” rating on shares of Teck Resources in a research note on Friday, April 24th. Finally, JPMorgan Chase & Co. lifted their price target on Teck Resources from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Five research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat.com, Teck Resources has an average rating of “Hold” and an average target price of $59.17.

Teck Resources Trading Down 0.2%

Teck Resources stock opened at $59.37 on Thursday. Teck Resources has a 12 month low of $30.98 and a 12 month high of $71.25. The company has a quick ratio of 2.16, a current ratio of 2.83 and a debt-to-equity ratio of 0.13. The stock has a market cap of $28.66 billion, a P/E ratio of 21.75, a P/E/G ratio of 3.53 and a beta of 0.92. The company’s fifty day simple moving average is $62.43 and its 200-day simple moving average is $56.09.

Institutional Investors Weigh In On Teck Resources

A number of large investors have recently bought and sold shares of the business. AQR Capital Management LLC lifted its position in shares of Teck Resources by 11.1% in the first quarter. AQR Capital Management LLC now owns 34,705 shares of the basic materials company’s stock worth $1,264,000 after buying an additional 3,458 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Teck Resources by 453.0% during the 1st quarter. Jones Financial Companies Lllp now owns 9,721 shares of the basic materials company’s stock valued at $354,000 after acquiring an additional 7,963 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Teck Resources by 1.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 465,861 shares of the basic materials company’s stock valued at $16,971,000 after acquiring an additional 8,146 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Teck Resources by 189.3% in the 2nd quarter. Marshall Wace LLP now owns 218,242 shares of the basic materials company’s stock valued at $8,813,000 after acquiring an additional 142,816 shares in the last quarter. Finally, NewEdge Advisors LLC raised its stake in shares of Teck Resources by 4,602.9% in the 2nd quarter. NewEdge Advisors LLC now owns 8,183 shares of the basic materials company’s stock valued at $330,000 after acquiring an additional 8,009 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, June 15th. Teck Resources’s payout ratio is presently 13.19%.

About Teck Resources

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.