Teck Resources Ltd (NYSE:TECK) Stock Has Consensus Price Target of $62.25 According to Analysts

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) has been given an average recommendation of “Hold” by the thirteen research firms that are presently covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $62.25.

A number of equities research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Teck Resources from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 4th. Raymond James Financial upgraded shares of Teck Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Teck Resources from $64.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. JPMorgan Chase & Co. lifted their price target on shares of Teck Resources from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, July 28th. Finally, Wall Street Zen lowered Teck Resources from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 26th.

Institutional Trading of Teck Resources

Hedge funds have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. raised its holdings in shares of Teck Resources by 117.4% during the first quarter. Geneos Wealth Management Inc. now owns 561 shares of the basic materials company’s stock valued at $29,000 after buying an additional 303 shares during the last quarter. Welch Group LLC grew its holdings in Teck Resources by 6.2% in the 1st quarter. Welch Group LLC now owns 6,266 shares of the basic materials company’s stock worth $324,000 after buying an additional 367 shares in the last quarter. 44 Wealth Management LLC increased its position in Teck Resources by 1.3% in the 4th quarter. 44 Wealth Management LLC now owns 31,488 shares of the basic materials company’s stock valued at $1,508,000 after acquiring an additional 411 shares during the period. Blue Trust Inc. increased its position in Teck Resources by 411.8% in the 1st quarter. Blue Trust Inc. now owns 563 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 453 shares during the period. Finally, Elevation Point Wealth Partners LLC raised its stake in Teck Resources by 8.9% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 5,720 shares of the basic materials company’s stock valued at $296,000 after acquiring an additional 466 shares in the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

Teck Resources Stock Performance

Shares of Teck Resources stock opened at $66.47 on Tuesday. The company has a quick ratio of 2.33, a current ratio of 3.12 and a debt-to-equity ratio of 0.12. The stock’s fifty day moving average is $65.08 and its two-hundred day moving average is $60.91. Teck Resources has a 52 week low of $38.00 and a 52 week high of $72.56. The company has a market capitalization of $32.10 billion, a PE ratio of 18.01, a price-to-earnings-growth ratio of 2.14 and a beta of 0.94.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its earnings results on Thursday, July 23rd. The basic materials company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.40. The firm had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.38 billion. Teck Resources had a net margin of 17.85% and a return on equity of 10.42%. The business’s revenue was up 78.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.38 earnings per share. As a group, analysts expect that Teck Resources will post 4.03 earnings per share for the current year.

Teck Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a C$0.12 dividend. This represents a $0.50 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, September 15th. Teck Resources’s payout ratio is presently 9.76%.

Teck Resources Company Profile

Teck Resources Limited is a Canadian mining and metals company focused primarily on the exploration, development and production of base metals. Its principal products include copper, zinc and lead, along with associated by-products such as molybdenum, silver and germanium. Copper is an increasingly important part of Teck’s business as the metal is used in electrical infrastructure, renewable energy systems, transportation and industrial applications.

Teck operates and develops mining assets in Canada, Chile and Peru.