Teck Resources (NYSE:TECK) Reaches New 52-Week High – Time to Buy?

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $48.68 and last traded at $48.2720, with a volume of 132535 shares trading hands. The stock had previously closed at $47.73.

Analyst Upgrades and Downgrades

TECK has been the topic of several recent analyst reports. Scotiabank restated a “sector perform” rating on shares of Teck Resources in a research note on Tuesday, November 25th. Benchmark reiterated a “buy” rating on shares of Teck Resources in a research note on Thursday, October 23rd. Canaccord Genuity Group lowered shares of Teck Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, October 8th. Weiss Ratings raised shares of Teck Resources from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, October 24th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Teck Resources in a research report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $55.71.

Teck Resources Price Performance

The company has a current ratio of 2.78, a quick ratio of 2.08 and a debt-to-equity ratio of 0.15. The business has a fifty day moving average price of $43.12 and a 200-day moving average price of $39.67. The stock has a market capitalization of $23.31 billion, a PE ratio of 27.24, a PEG ratio of 0.68 and a beta of 0.83.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its earnings results on Wednesday, October 22nd. The basic materials company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.16. Teck Resources had a return on equity of 4.14% and a net margin of 11.93%.The company had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same period in the prior year, the business posted $0.60 EPS. Teck Resources’s quarterly revenue was up 18.4% compared to the same quarter last year. Research analysts expect that Teck Resources Ltd will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be paid a $0.125 dividend. This is an increase from Teck Resources’s previous quarterly dividend of $0.09. The ex-dividend date is Monday, December 15th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.0%. Teck Resources’s dividend payout ratio (DPR) is 20.22%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Teck Resources during the second quarter worth about $437,657,000. Northwest & Ethical Investments L.P. increased its holdings in Teck Resources by 16.1% in the second quarter. Northwest & Ethical Investments L.P. now owns 157,645 shares of the basic materials company’s stock valued at $6,402,000 after buying an additional 21,900 shares in the last quarter. Swiss National Bank boosted its stake in shares of Teck Resources by 6.0% during the 2nd quarter. Swiss National Bank now owns 1,428,679 shares of the basic materials company’s stock worth $57,555,000 after acquiring an additional 80,300 shares in the last quarter. Invesco Ltd. increased its stake in Teck Resources by 10.8% in the 2nd quarter. Invesco Ltd. now owns 5,565,955 shares of the basic materials company’s stock valued at $224,753,000 after purchasing an additional 543,554 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Teck Resources by 6.9% during the 2nd quarter. Franklin Resources Inc. now owns 368,585 shares of the basic materials company’s stock worth $14,897,000 after purchasing an additional 23,842 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Company Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.