Teck Resources Ltd (NYSE:TECK) (TSE:TECK) – Raymond James lifted their Q3 2019 earnings per share (EPS) estimates for Teck Resources in a research note issued to investors on Friday, May 31st, according to Zacks Investment Research. Raymond James analyst B. Macarthur now forecasts that the basic materials company will post earnings of $0.73 per share for the quarter, up from their previous estimate of $0.72. Raymond James has a “Buy” rating on the stock. Raymond James also issued estimates for Teck Resources’ Q4 2020 earnings at $0.57 EPS and FY2020 earnings at $2.27 EPS.
Several other brokerages have also commented on TECK. Zacks Investment Research raised Teck Resources from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Thursday, May 9th. Barclays lowered Teck Resources to a “positive” rating in a report on Tuesday, April 9th. They noted that the move was a valuation call. MKM Partners set a $26.00 price objective on Teck Resources and gave the stock a “buy” rating in a report on Thursday, April 4th. ValuEngine raised Teck Resources from a “sell” rating to a “hold” rating in a report on Thursday, March 21st. Finally, Bank of America set a $30.00 price objective on Teck Resources 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 thirteen have assigned a buy rating to the stock. Teck Resources currently has a consensus rating of “Buy” and a consensus price target of $29.29.
Shares of TECK stock traded down $0.19 during mid-day trading on Monday, hitting $22.56. The company’s stock had a trading volume of 2,068,873 shares, compared to its average volume of 2,713,404. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.06 and a current ratio of 2.95. Teck Resources has a 52-week low of $18.17 and a 52-week high of $26.40. The firm has a market capitalization of $12.61 billion, a PE ratio of 7.21 and a beta of 1.34. The company has a 50-day moving average of $21.25.
Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. Teck Resources had a return on equity of 9.59% and a net margin of 23.71%. The firm had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the previous year, the business earned $1.31 earnings per share.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a $0.037 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.66%. Teck Resources’s dividend payout ratio is currently 4.78%.
A number of hedge funds have recently modified their holdings of the business. Oppenheimer & Co. Inc. boosted its position in Teck Resources by 18.2% during the 4th quarter. Oppenheimer & Co. Inc. now owns 65,504 shares of the basic materials company’s stock valued at $1,411,000 after acquiring an additional 10,089 shares in the last quarter. Exane Derivatives acquired a new stake in shares of Teck Resources during the 4th quarter valued at about $187,000. Advisors Asset Management Inc. grew its position in shares of Teck Resources by 76.1% during the 4th quarter. Advisors Asset Management Inc. now owns 19,762 shares of the basic materials company’s stock valued at $426,000 after acquiring an additional 8,541 shares during the period. Creative Planning grew its position in shares of Teck Resources by 1.5% during the 4th quarter. Creative Planning now owns 58,187 shares of the basic materials company’s stock valued at $1,253,000 after acquiring an additional 842 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. acquired a new stake in shares of Teck Resources during the 4th quarter valued at about $597,000. Institutional investors and hedge funds own 55.23% of the company’s stock.
About Teck Resources
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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