Teck Resources Ltd (NYSE:TECK) (TSE:TECK) had its price objective lifted by BMO Capital Markets from $40.00 to $41.00 in a research report sent to investors on Monday. BMO Capital Markets currently has an outperform rating on the basic materials company’s stock.
A number of other research analysts have also weighed in on TECK. J P Morgan Chase & Co upgraded Teck Resources from a neutral rating to an overweight rating in a report on Tuesday, May 30th. Bank of America Corporation upgraded Teck Resources from a neutral rating to a buy rating in a report on Friday, June 30th. Zacks Investment Research lowered Teck Resources from a hold rating to a sell rating in a report on Tuesday, August 1st. Deutsche Bank AG restated a buy rating and issued a $23.00 target price (down previously from $24.00) on shares of Teck Resources in a report on Sunday, June 25th. Finally, Royal Bank Of Canada restated an outperform rating and issued a $38.00 target price (down previously from $39.00) on shares of Teck Resources in a report on Friday, June 16th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and twenty-four have issued a buy rating to the company. Teck Resources presently has an average rating of Buy and an average price target of $30.37.
Shares of Teck Resources (TECK) opened at 21.21 on Monday. Teck Resources has a 12 month low of $14.56 and a 12 month high of $26.60. The company has a 50-day moving average price of $23.20 and a 200-day moving average price of $20.46. The firm has a market cap of $12.26 billion, a price-to-earnings ratio of 7.51 and a beta of 1.25.
Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.02. The business had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.75 billion. Teck Resources had a return on equity of 13.01% and a net margin of 17.93%. The company’s revenue was up 62.0% on a year-over-year basis. Analysts forecast that Teck Resources will post $3.55 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a $0.0399 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend is Thursday, September 14th. Teck Resources’s dividend payout ratio is currently 3.01%.
A number of large investors have recently added to or reduced their stakes in TECK. Capital Analysts LLC purchased a new stake in Teck Resources in the second quarter worth $100,000. Winslow Evans & Crocker Inc. purchased a new stake in Teck Resources in the second quarter worth $108,000. Financial Architects Inc purchased a new stake in Teck Resources in the second quarter worth $123,000. PNC Financial Services Group Inc. purchased a new stake in Teck Resources in the second quarter worth $124,000. Finally, Tower Research Capital LLC TRC purchased a new stake in Teck Resources in the second quarter worth $164,000. 46.80% of the stock is owned by institutional investors and hedge funds.
Teck Resources Company Profile
Teck Resources Ltd is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company’s activities are organized into business units that are focused on steelmaking coal, copper, zinc and energy. It operates in five segments: steelmaking coal, copper, zinc, energy and corporate.
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