Teck Resources Ltd (TECK) Given Consensus Rating of “Buy” by Brokerages
Teck Resources Ltd (NYSE:TECK) (TSE:TECK) has received an average recommendation of “Buy” from the twenty-six research firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and twenty-one have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $28.55.
Several equities analysts have issued reports on the company. JPMorgan Chase & Co. raised Teck Resources from a “neutral” rating to an “overweight” rating in a research note on Tuesday, May 30th. Zacks Investment Research lowered Teck Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, February 21st. Berenberg Bank raised Teck Resources from a “hold” rating to a “buy” rating in a research note on Wednesday, March 22nd. Deutsche Bank AG raised Teck Resources from a “hold” rating to a “buy” rating and boosted their price target for the company from $24.00 to $25.00 in a research note on Tuesday, March 21st. Finally, Credit Suisse Group AG reissued an “outperform” rating on shares of Teck Resources in a research note on Tuesday, April 18th.
Teck Resources (NYSE TECK) traded down 2.89% on Tuesday, hitting $17.47. 3,963,701 shares of the stock were exchanged. Teck Resources has a 1-year low of $10.61 and a 1-year high of $26.60. The company’s 50 day moving average is $19.45 and its 200 day moving average is $21.85. The stock has a market cap of $10.09 billion, a PE ratio of 9.15 and a beta of 1.50.
Teck Resources (NYSE:TECK) last posted its quarterly earnings data on Tuesday, April 25th. The basic materials company reported $0.88 EPS for the quarter, missing the Zacks’ consensus estimate of $1.04 by $0.16. The company had revenue of $2.89 billion during the quarter, compared to analyst estimates of $3.05 billion. Teck Resources had a positive return on equity of 1.13% and a negative net margin of 1.42%. The firm’s quarterly revenue was up 70.4% compared to the same quarter last year. On average, equities research analysts expect that Teck Resources will post $3.36 earnings per share for the current year.
The business also recently declared a semiannual dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be issued a dividend of $0.0741 per share. The ex-dividend date is Tuesday, June 13th. This represents a yield of 0.72%. This is an increase from Teck Resources’s previous semiannual dividend of $0.04. Teck Resources’s dividend payout ratio is -53.33%.
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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.
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