Teck Resources (NYSE:TECK) Upgraded by ValuEngine to “Hold”

ValuEngine upgraded shares of Teck Resources (NYSE:TECK) (TSE:TECK) from a sell rating to a hold rating in a research report released on Wednesday, ValuEngine reports.

TECK has been the subject of several other research reports. Royal Bank of Canada downgraded Teck Resources to a buy rating and set a $35.00 price target for the company. in a report on Friday, October 25th. Bank of America lowered shares of Teck Resources from a buy rating to an underperform rating in a research report on Wednesday, November 13th. BMO Capital Markets cut shares of Teck Resources from an outperform rating to a market perform rating in a research note on Wednesday, November 27th. B. Riley set a $39.00 target price on shares of Teck Resources and gave the stock a buy rating in a research report on Wednesday, October 9th. Finally, Clarkson Capital reissued a neutral rating on shares of Teck Resources in a research report on Monday, September 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. Teck Resources presently has an average rating of Buy and a consensus target price of $32.22.

TECK traded down $0.08 on Wednesday, hitting $15.75. The company had a trading volume of 122,204 shares, compared to its average volume of 2,777,451. The stock has a market capitalization of $8.50 billion, a price-to-earnings ratio of 5.02 and a beta of 1.45. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.28 and a current ratio of 2.08. The stock has a fifty day moving average price of $16.25 and a 200-day moving average price of $18.54. Teck Resources has a 12-month low of $14.51 and a 12-month high of $25.75.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.11. Teck Resources had a net margin of 13.28% and a return on equity of 8.07%. The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period in the prior year, the firm posted $0.80 earnings per share. Analysts forecast that Teck Resources will post 2.31 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a dividend of $0.038 per share. This represents a $0.15 annualized dividend and a yield of 0.97%. This is a positive change from Teck Resources’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Thursday, December 12th. Teck Resources’s dividend payout ratio (DPR) is 4.78%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Amundi Pioneer Asset Management Inc. boosted its holdings in Teck Resources by 72.9% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 360,876 shares of the basic materials company’s stock worth $8,365,000 after buying an additional 152,124 shares in the last quarter. Greenleaf Trust grew its position in shares of Teck Resources by 8.9% during the 2nd quarter. Greenleaf Trust now owns 20,005 shares of the basic materials company’s stock valued at $461,000 after acquiring an additional 1,627 shares during the period. Steward Partners Investment Advisory LLC acquired a new stake in shares of Teck Resources during the 2nd quarter valued at about $32,000. Virginia Retirement Systems ET AL increased its stake in shares of Teck Resources by 22.4% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 243,600 shares of the basic materials company’s stock valued at $5,634,000 after purchasing an additional 44,500 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Teck Resources by 12.0% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,421,045 shares of the basic materials company’s stock valued at $55,873,000 after purchasing an additional 259,028 shares in the last quarter. 52.95% of the stock is currently owned by institutional investors and hedge funds.

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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