Teck Resources Ltd. (NYSE:TCK) (TSE:TCK.B) was upgraded by equities research analysts at Scotiabank from a “sector perform” rating to a “sector outperform” rating in a report released on Tuesday.
TCK has been the topic of several other research reports. MKM Partners assumed coverage on shares of Teck Resources in a research report on Tuesday, December 20th. They set a “buy” rating and a $29.00 price objective on the stock. Credit Suisse Group raised shares of Teck Resources from a “neutral” rating to an “outperform” rating in a research report on Monday, October 17th. Citigroup Inc. raised shares of Teck Resources from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 6th. Goldman Sachs Group, Inc. (The) raised shares of Teck Resources from a “neutral” rating to a “buy” rating and set a $31.00 price objective on the stock in a research report on Tuesday, November 15th. Finally, National Bank Financial raised shares of Teck Resources from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, October 18th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $24.23.
Teck Resources (NYSE:TCK) remained flat at $25.36 during midday trading on Tuesday. Teck Resources has a 12 month low of $2.56 and a 12 month high of $26.60. The company’s 50-day moving average price is $22.41 and its 200 day moving average price is $16.57.
Teck Resources (NYSE:TCK) last posted its quarterly earnings results on Thursday, October 27th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.08. The business earned $2.31 billion during the quarter, compared to analyst estimates of $1.65 billion. Teck Resources had a negative net margin of 1.42% and a positive return on equity of 1.13%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.05 earnings per share. On average, analysts anticipate that Teck Resources will post $1.19 earnings per share for the current fiscal year.
The firm also recently declared a semiannual dividend, which was paid on Friday, December 30th. Shareholders of record on Thursday, December 15th were paid a dividend of $0.037 per share. The ex-dividend date of this dividend was Tuesday, December 13th. This represents a yield of 0.29%. Teck Resources’s dividend payout ratio is currently -53.33%.
A number of large investors have recently bought and sold shares of the company. Trexquant Investment LP acquired a new stake in Teck Resources during the second quarter worth $1,371,000. Wetherby Asset Management Inc. increased its stake in Teck Resources by 1.0% in the second quarter. Wetherby Asset Management Inc. now owns 33,318 shares of the company’s stock worth $439,000 after buying an additional 336 shares in the last quarter. BlackRock Group LTD acquired a new stake in Teck Resources during the second quarter worth $741,000. BlackRock Advisors LLC acquired a new stake in Teck Resources during the second quarter worth $10,121,000. Finally, Virginia Retirement Systems ET AL acquired a new stake in Teck Resources during the second quarter worth $491,000. Hedge funds and other institutional investors own 45.71% of the company’s stock.
Teck Resources Company Profile
Teck Resources Limited is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company operates through five segments: steelmaking coal, copper, zinc, energy and corporate. Through its interests in mining and processing operations in Canada, the United States, Chile and Peru, the Company exports seaborne steelmaking coal and produces mined zinc.
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