Q4 EPS Estimates for Teck Resources Cut by Analyst

Teck Resources Limited (NYSE:TECK) (TSE:TECK) – Analysts at National Bank Financial dropped their Q4 2024 earnings per share (EPS) estimates for shares of Teck Resources in a research note issued to investors on Tuesday, January 21st. National Bank Financial analyst S. Nagle now forecasts that the basic materials company will post earnings per share of $0.21 for the quarter, down from their previous forecast of $0.29. National Bank Financial currently has a “Sector Perform” rating on the stock. The consensus estimate for Teck Resources’ current full-year earnings is $1.69 per share. National Bank Financial also issued estimates for Teck Resources’ FY2025 earnings at $1.06 EPS and FY2026 earnings at $1.32 EPS.

Several other equities analysts also recently commented on the company. Scotiabank raised their target price on Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, October 8th. StockNews.com upgraded Teck Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Raymond James cut their price objective on Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday. UBS Group downgraded Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. Finally, Citigroup upgraded Teck Resources to a “hold” rating in a research report on Wednesday, October 2nd. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $65.38.

Teck Resources Price Performance

Teck Resources stock opened at $42.90 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. The company has a market capitalization of $21.40 billion, a PE ratio of 65.00 and a beta of 1.05. Teck Resources has a one year low of $36.50 and a one year high of $55.13. The business has a 50 day simple moving average of $43.56 and a 200 day simple moving average of $46.50.

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

Teck Resources Cuts Dividend

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

Institutional Investors Weigh In On Teck Resources

A number of institutional investors have recently made changes to their positions in the stock. R Squared Ltd acquired a new stake in shares of Teck Resources during the fourth quarter worth $117,000. Union Bancaire Privee UBP SA acquired a new stake in shares of Teck Resources during the fourth quarter worth $214,000. Blue Trust Inc. grew its stake in shares of Teck Resources by 31.5% during the fourth quarter. Blue Trust Inc. now owns 3,848 shares of the basic materials company’s stock worth $156,000 after purchasing an additional 921 shares during the period. Drive Wealth Management LLC acquired a new stake in shares of Teck Resources during the fourth quarter worth $272,000. Finally, Affinity Wealth Management LLC grew its stake in shares of Teck Resources by 2.1% during the fourth quarter. Affinity Wealth Management LLC now owns 107,022 shares of the basic materials company’s stock worth $4,338,000 after purchasing an additional 2,241 shares during the period. 78.06% of the stock is owned by institutional investors and hedge funds.

Teck Resources Company Profile

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.