Teck Resources Ltd (NYSE:TECK) Receives $30.00 Average Target Price from Analysts

Shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) have been assigned an average rating of “Buy” from the nineteen research firms that are presently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $30.00.

Several equities research analysts recently commented on TECK shares. Macquarie started coverage on Lundin Mining in a research note on Wednesday, July 10th. They set a “neutral” rating for the company. MKM Partners reaffirmed a “buy” rating and set a $28.00 target price (up previously from $26.00) on shares of Teck Resources in a research note on Wednesday, April 24th. Zacks Investment Research raised Vistra Energy from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Saturday, July 13th. Raymond James reaffirmed a “buy” rating on shares of Teck Resources in a research note on Thursday, April 4th. Finally, ValuEngine cut Welbilt from a “hold” rating to a “sell” rating in a research note on Wednesday, June 12th.

NYSE TECK traded up $0.19 during trading hours on Tuesday, hitting $22.20. 2,963,844 shares of the company’s stock were exchanged, compared to its average volume of 2,159,967. The firm has a 50-day moving average of $21.95. Teck Resources has a 1-year low of $18.17 and a 1-year high of $26.40. The stock has a market cap of $12.32 billion, a price-to-earnings ratio of 7.07 and a beta of 1.37. The company has a current ratio of 2.95, a quick ratio of 2.06 and a debt-to-equity ratio of 0.23.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Tuesday, April 23rd. The basic materials company reported $0.74 EPS for the quarter, topping the 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 business had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter last year, the firm posted $1.31 earnings per share. As a group, equities research analysts forecast that Teck Resources will post 2.93 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a $0.037 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.15 dividend on an annualized basis and a yield of 0.67%. Teck Resources’s dividend payout ratio (DPR) is presently 4.78%.

Institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in Teck Resources in the fourth quarter valued at approximately $285,156,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its position in shares of Teck Resources by 30.4% during the first quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 46,724 shares of the basic materials company’s stock valued at $1,074,000 after buying an additional 10,894 shares during the last quarter. Henry James International Management Inc. boosted its position in shares of Teck Resources by 54.1% during the first quarter. Henry James International Management Inc. now owns 101,707 shares of the basic materials company’s stock valued at $2,358,000 after buying an additional 35,702 shares during the last quarter. ARP Americas LP boosted its position in shares of Teck Resources by 133.0% during the first quarter. ARP Americas LP now owns 21,848 shares of the basic materials company’s stock valued at $506,000 after buying an additional 12,470 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Teck Resources by 709.7% during the first quarter. Acadian Asset Management LLC now owns 58,300 shares of the basic materials company’s stock valued at $1,349,000 after buying an additional 51,100 shares during the last quarter. 55.23% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Teck Resources (NYSE:TECK)

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