Brokerages Set Teck Resources Limited (NYSE:TECK) Target Price at $42.40

Shares of Teck Resources Limited (NYSE:TECKGet Free Report) (TSE:TECK) have been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $42.40.

TECK has been the topic of a number of recent analyst reports. Benchmark reissued a “buy” rating and issued a $50.00 price objective on shares of Teck Resources in a research report on Monday, January 22nd. StockNews.com started coverage on Teck Resources in a report on Monday, December 11th. They issued a “hold” rating for the company. Morgan Stanley reduced their price objective on Teck Resources from $45.00 to $44.00 and set an “overweight” rating for the company in a report on Monday, February 26th. Finally, UBS Group started coverage on Teck Resources in a report on Tuesday, January 16th. They issued a “buy” rating for the company.

Check Out Our Latest Stock Report on TECK

Teck Resources Trading Up 0.2 %

NYSE:TECK opened at $44.87 on Monday. The company has a current ratio of 1.10, a quick ratio of 0.60 and a debt-to-equity ratio of 0.21. The firm has a fifty day simple moving average of $39.33 and a 200-day simple moving average of $39.35. Teck Resources has a 12 month low of $32.48 and a 12 month high of $49.34. The company has a market capitalization of $22.87 billion, a P/E ratio of 13.08, a PEG ratio of 5.51 and a beta of 1.13.

Teck Resources (NYSE:TECKGet Free Report) (TSE:TECK) last released its earnings results on Thursday, February 22nd. The basic materials company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.01. The business had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $3.11 billion. Teck Resources had a net margin of 16.21% and a return on equity of 9.67%. On average, equities research analysts anticipate that Teck Resources will post 4 earnings per share for the current year.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Friday, March 15th will be issued a dividend of $0.0925 per share. This represents a $0.37 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend is Thursday, March 14th. Teck Resources’s dividend payout ratio (DPR) is presently 10.50%.

Institutional Investors Weigh In On Teck Resources

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Teck Resources by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 16,431,096 shares of the basic materials company’s stock valued at $694,542,000 after buying an additional 457,592 shares in the last quarter. Creekmur Asset Management LLC purchased a new position in shares of Teck Resources during the fourth quarter valued at $35,000. Chelsea Counsel Co. grew its holdings in shares of Teck Resources by 28.8% during the fourth quarter. Chelsea Counsel Co. now owns 13,975 shares of the basic materials company’s stock valued at $591,000 after buying an additional 3,125 shares in the last quarter. FIL Ltd grew its holdings in shares of Teck Resources by 98.8% during the fourth quarter. FIL Ltd now owns 11,937,233 shares of the basic materials company’s stock valued at $504,588,000 after buying an additional 5,933,226 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in Teck Resources by 50.5% during the fourth quarter. Legal & General Group Plc now owns 3,484,320 shares of the basic materials company’s stock valued at $147,995,000 after purchasing an additional 1,169,027 shares during the last quarter. Hedge funds and other institutional investors own 59.23% of the company’s stock.

About Teck Resources

(Get Free Report

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.

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Analyst Recommendations for Teck Resources (NYSE:TECK)

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