Teck Resources Ltd (TECK) Receives Consensus Rating of “Buy” from Brokerages
Teck Resources Ltd (NYSE:TECK) (TSE:TECK) has been given a consensus recommendation of “Buy” by the nineteen research firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $29.64.
A number of brokerages have recently commented on TECK. Scotiabank raised Teck Resources from an “outperform” rating to a “focus list” rating in a report on Monday. ValuEngine raised Teck Resources from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Citigroup cut Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, December 4th. Zacks Investment Research cut Teck Resources from a “buy” rating to a “hold” rating in a research note on Friday, October 6th. Finally, BidaskClub raised Teck Resources from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 13th.
Teck Resources (NYSE TECK) opened at $30.23 on Friday. The company has a market capitalization of $17,550.00, a price-to-earnings ratio of 8.94, a PEG ratio of 1.52 and a beta of 1.31. The company has a current ratio of 2.17, a quick ratio of 1.42 and a debt-to-equity ratio of 0.32. Teck Resources has a fifty-two week low of $14.56 and a fifty-two week high of $30.29.
The business also recently declared a special dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were given a $0.3141 dividend. The ex-dividend date of this dividend was Thursday, December 14th. This represents a dividend yield of 0.72%. Teck Resources’s dividend payout ratio (DPR) is 4.73%.
Several large investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC boosted its position in shares of Teck Resources by 14.4% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 35,773 shares of the basic materials company’s stock valued at $754,000 after purchasing an additional 4,514 shares during the period. Point72 Asset Management L.P. lifted its stake in Teck Resources by 55.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 999,826 shares of the basic materials company’s stock worth $21,086,000 after acquiring an additional 357,940 shares in the last quarter. Bank of Nova Scotia Trust Co. purchased a new stake in Teck Resources in the 3rd quarter worth about $256,000. Cohen & Steers Inc. purchased a new stake in Teck Resources in the 3rd quarter worth about $2,247,000. Finally, Magnetar Financial LLC purchased a new stake in Teck Resources in the 3rd quarter worth about $796,000. Institutional investors and hedge funds own 54.25% of the company’s stock.
TRADEMARK VIOLATION WARNING: “Teck Resources Ltd (TECK) Receives Consensus Rating of “Buy” from Brokerages” was first reported by Watch List News and is the property of of Watch List News. If you are viewing this report on another publication, it was illegally copied and republished in violation of US and international copyright & trademark law. The correct version of this report can be accessed at https://www.watchlistnews.com/teck-resources-ltd-teck-receives-consensus-rating-of-buy-from-brokerages/1804323.html.
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.
Receive News & Ratings for Teck Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teck Resources and related companies with MarketBeat.com's FREE daily email newsletter.