Raymond James Lowers Earnings Estimates for Teck Resources

Teck Resources Limited (NYSE:TECK) (TSE:TECK) – Research analysts at Raymond James reduced their Q4 2024 earnings per share (EPS) estimates for Teck Resources in a report released on Tuesday, January 21st. Raymond James analyst B. Macarthur now forecasts that the basic materials company will earn $0.30 per share for the quarter, down from their previous estimate of $0.48. Raymond James has a “Outperform” rating and a $70.00 price target on the stock. The consensus estimate for Teck Resources’ current full-year earnings is $1.69 per share. Raymond James also issued estimates for Teck Resources’ Q1 2025 earnings at $0.32 EPS, Q2 2025 earnings at $0.39 EPS, Q3 2025 earnings at $0.44 EPS, Q4 2025 earnings at $0.42 EPS and FY2025 earnings at $1.56 EPS.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.24. The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.09 billion. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. The firm’s revenue for the quarter was down 20.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.57 earnings per share.

A number of other brokerages also recently weighed in on TECK. JPMorgan Chase & Co. lowered their price target on Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. National Bank Financial downgraded Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. UBS Group lowered shares of Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. Scotiabank boosted their price objective on Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a report on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a research note on Friday, October 25th. Six analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Teck Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.38.

Teck Resources Stock Performance

Shares of TECK opened at $43.35 on Friday. The company has a market cap of $21.62 billion, a PE ratio of 65.68 and a beta of 1.05. The firm has a 50-day moving average of $43.56 and a 200-day moving average of $46.50. Teck Resources has a one year low of $36.50 and a one year high of $55.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35.

Teck Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a dividend of $0.0895 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.83%. The ex-dividend date was Friday, December 13th. Teck Resources’s payout ratio is currently 53.03%.

Institutional Trading of Teck Resources

Several institutional investors have recently modified their holdings of the business. Principal Financial Group Inc. boosted its holdings in Teck Resources by 21.7% in the third quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company’s stock valued at $388,507,000 after acquiring an additional 1,326,241 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Teck Resources by 2.6% during the third quarter. CIBC Asset Management Inc now owns 6,495,880 shares of the basic materials company’s stock worth $341,337,000 after buying an additional 165,759 shares during the period. Mackenzie Financial Corp raised its stake in Teck Resources by 10.3% during the second quarter. Mackenzie Financial Corp now owns 5,855,836 shares of the basic materials company’s stock worth $280,655,000 after buying an additional 546,801 shares during the last quarter. AMF Tjanstepension AB lifted its holdings in Teck Resources by 3.9% in the third quarter. AMF Tjanstepension AB now owns 4,552,507 shares of the basic materials company’s stock valued at $238,055,000 after buying an additional 169,476 shares during the period. Finally, FMR LLC boosted its position in Teck Resources by 72.8% during the third quarter. FMR LLC now owns 3,634,430 shares of the basic materials company’s stock valued at $189,848,000 after acquiring an additional 1,531,563 shares during the last quarter. Institutional investors own 78.06% of the company’s stock.

About Teck Resources

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.