Macquarie initiated coverage on shares of Teck Resources (NYSE:TECK) (TSE:TECK) in a report issued on Wednesday, BenzingaRatingsTable reports. The brokerage issued a neutral rating on the basic materials company’s stock.

TECK has been the topic of several other reports. Barclays set a $192.00 price target on shares of Tesla and gave the stock a sell rating in a research note on Tuesday, April 9th. MKM Partners reiterated a buy rating and set a $28.00 price objective (up from $26.00) on shares of Teck Resources in a report on Wednesday, April 24th. ValuEngine lowered shares of Welbilt from a hold rating to a sell rating in a report on Wednesday, June 12th. Zacks Investment Research upgraded shares of First Industrial Realty Trust from a hold rating to a buy rating and set a $39.00 price objective on the stock in a report on Wednesday, June 5th. Finally, Bank of America set a $152.00 price objective on shares of Caterpillar and gave the stock a buy rating in a report on Thursday, April 4th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $29.14.

Teck Resources stock opened at $21.68 on Wednesday. Teck Resources has a 12-month low of $18.17 and a 12-month high of $26.40. The firm has a market cap of $11.98 billion, a PE ratio of 6.90 and a beta of 1.37. The business’s 50-day moving average price is $21.67. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.95 and a quick ratio of 2.06.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. Teck Resources had a net margin of 23.71% and a return on equity of 9.59%. The company had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period last year, the company earned $1.31 EPS. On average, equities research analysts predict that Teck Resources will post 2.95 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.037 per share. The ex-dividend date was Thursday, June 13th. This represents a $0.15 annualized dividend and a dividend yield of 0.68%. Teck Resources’s payout ratio is currently 4.78%.

Hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new position in Teck Resources in the fourth quarter valued at approximately $285,156,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its holdings in Teck Resources by 30.4% in the first quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 46,724 shares of the basic materials company’s stock valued at $1,074,000 after buying an additional 10,894 shares during the period. Henry James International Management Inc. raised its holdings in Teck Resources by 54.1% in the first quarter. Henry James International Management Inc. now owns 101,707 shares of the basic materials company’s stock valued at $2,358,000 after buying an additional 35,702 shares during the period. ARP Americas LP raised its holdings in Teck Resources by 133.0% in the first quarter. ARP Americas LP now owns 21,848 shares of the basic materials company’s stock valued at $506,000 after buying an additional 12,470 shares during the period. Finally, Acadian Asset Management LLC raised its holdings in Teck Resources by 709.7% in the first quarter. Acadian Asset Management LLC now owns 58,300 shares of the basic materials company’s stock valued at $1,349,000 after buying an additional 51,100 shares during the period. Institutional investors and hedge funds own 55.23% of the company’s stock.

Teck Resources Company Profile

Teck Resources Limited researches, explores for, develops, and produces natural resources in the Asia Pacific, the Americas, and Europe. It operates through five segments: Steelmaking, Coal, Copper, Zinc, Energy, and Corporate. The company's principal products include steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.

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Analyst Recommendations for Teck Resources (NYSE:TECK)

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