CIBC started coverage on shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) in a research report released on Friday morning. The brokerage issued a sector outperform rating on the basic materials company’s stock.

A number of other equities analysts have also recently commented on TECK. B. Riley reaffirmed a buy rating on shares of Teck Resources in a research report on Wednesday, November 1st. Raymond James Financial, Inc. reaffirmed an outperform rating on shares of Teck Resources in a research report on Tuesday, August 15th. Zacks Investment Research raised shares of Teck Resources from a hold rating to a buy rating and set a $24.00 price objective for the company in a research report on Thursday, November 9th. Deutsche Bank AG reaffirmed a buy rating and set a $26.00 price objective (up from $24.00) on shares of Teck Resources in a research report on Monday, September 25th. Finally, MKM Partners reaffirmed a buy rating and set a $30.00 price objective on shares of Teck Resources in a research report on Wednesday, September 20th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty have assigned a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $30.65.

Teck Resources (TECK) traded up $0.71 during mid-day trading on Friday, reaching $21.93. 5,169,754 shares of the company’s stock were exchanged, compared to its average volume of 4,630,000. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.42 and a current ratio of 2.17. Teck Resources has a 1 year low of $14.56 and a 1 year high of $33.76. The company has a market capitalization of $12,680.00, a PE ratio of 5.76, a price-to-earnings-growth ratio of 0.81 and a beta of 1.27.

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The business also recently declared a special dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a $0.3141 dividend. This represents a yield of 0.72%. The ex-dividend date is Thursday, December 14th. Teck Resources’s dividend payout ratio (DPR) is presently 2.41%.

A number of hedge funds have recently bought and sold shares of TECK. Capital Analysts LLC acquired a new position in Teck Resources in the second quarter valued at about $100,000. Financial Architects Inc acquired a new position in Teck Resources in the second quarter valued at about $123,000. PNC Financial Services Group Inc. acquired a new position in Teck Resources in the second quarter valued at about $124,000. Tower Research Capital LLC TRC acquired a new position in Teck Resources in the second quarter valued at about $164,000. Finally, Candriam Luxembourg S.C.A. acquired a new position in Teck Resources in the second quarter valued at about $188,000. 45.80% of the stock is owned by institutional investors and hedge funds.

About Teck Resources

Teck Resources Ltd is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company’s activities are organized into business units that are focused on steelmaking coal, copper, zinc and energy. It operates in five segments: steelmaking coal, copper, zinc, energy and corporate.

Analyst Recommendations for Teck Resources (NYSE:TECK)

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