Analysts Set Teck Resources Ltd (NYSE:TECK) Price Target at $54.00

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) has been given an average rating of “Hold” by the twenty-two ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $54.5714.

A number of equities analysts have weighed in on the stock. Veritas lowered shares of Teck Resources from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Raymond James Financial restated an “outperform” rating on shares of Teck Resources in a report on Friday, October 10th. Canaccord Genuity Group downgraded Teck Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, October 8th. UBS Group raised shares of Teck Resources from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 3rd. Finally, Benchmark reissued a “buy” rating on shares of Teck Resources in a research report on Thursday, October 23rd.

Hedge Funds Weigh In On Teck Resources

A number of hedge funds have recently added to or reduced their stakes in the business. Union Bancaire Privee UBP SA raised its holdings in shares of Teck Resources by 4.3% during the second quarter. Union Bancaire Privee UBP SA now owns 6,402 shares of the basic materials company’s stock worth $259,000 after purchasing an additional 264 shares during the period. ASR Vermogensbeheer N.V. grew its position in shares of Teck Resources by 1.6% during the 3rd quarter. ASR Vermogensbeheer N.V. now owns 16,721 shares of the basic materials company’s stock valued at $734,000 after buying an additional 270 shares during the last quarter. Stephens Inc. AR raised its stake in Teck Resources by 4.8% during the second quarter. Stephens Inc. AR now owns 7,189 shares of the basic materials company’s stock worth $290,000 after acquiring an additional 329 shares during the period. Smartleaf Asset Management LLC raised its stake in Teck Resources by 69.2% during the first quarter. Smartleaf Asset Management LLC now owns 856 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 350 shares during the period. Finally, CWM LLC lifted its holdings in Teck Resources by 22.7% in the third quarter. CWM LLC now owns 2,078 shares of the basic materials company’s stock worth $91,000 after acquiring an additional 384 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Price Performance

TECK stock opened at $42.61 on Wednesday. The stock’s 50 day moving average price is $42.18 and its 200 day moving average price is $38.53. The firm has a market cap of $20.48 billion, a P/E ratio of 23.94, a PEG ratio of 0.74 and a beta of 0.90. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.08 and a current ratio of 2.78. Teck Resources has a 1 year low of $28.32 and a 1 year high of $48.47.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Wednesday, October 22nd. The basic materials company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.16. The company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.93 billion. Teck Resources had a return on equity of 4.14% and a net margin of 11.93%.Teck Resources’s revenue was up 18.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.60 earnings per share. On average, sell-side analysts expect that Teck Resources will post 1.53 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be issued a $0.125 dividend. This is a positive change from Teck Resources’s previous quarterly dividend of $0.09. The ex-dividend date is Monday, December 15th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.2%. Teck Resources’s dividend payout ratio (DPR) is presently 19.66%.

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.