2 weeks Ago By ABMN Staff
Shares of Teck Resources Limited ( NYSE:TECK – Get Free Report ) (TSE:TECK) have received a consensus rating of “Moderate Buy” from the ten research firms that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company.
The average 12 month target price among brokerages that have covered the stock in the last year is $65.00. A number of brokerages have recently commented on TECK.
JPMorgan Chase & Co. decreased their price objective on shares of Teck Resources from $56.00 to $54.
00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Benchmark restated a “buy” rating and set a $55.00 price objective on shares of Teck Resources in a report on Thursday, July 25th.
UBS Group upgraded shares of Teck Resources from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $76.00 to $78.00 in a report on Wednesday, September 4th.
Eight Capital lowered shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 11th. Finally, Morgan Stanley lifted their price target on shares of Teck Resources from $55.00 to $60.
00 and gave the stock an “overweight” rating in a research note on Friday, June 21st. Read Our Latest Stock Report on TECK Teck Resources Trading Down 1.8 % Teck Resources ( NYSE:TECK – Get Free Report ) (TSE:TECK) last posted its quarterly earnings results on Wednesday, July 24th.
The basic materials company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.
32. Teck Resources had a net margin of 9.40% and a return on equity of 6.
52%. The firm had revenue of $3.87 billion during the quarter, compared to analyst estimates of $2.
67 billion. During the same quarter in the prior year, the business posted $0.91 earnings per share.
The company’s quarterly revenue was up 10.1% compared to the same quarter last year. Equities analysts anticipate that Teck Resources will post 1.
98 EPS for the current year. Teck Resources Increases Dividend The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a dividend of $0.
625 per share. The ex-dividend date was Friday, September 13th. This is a boost from Teck Resources’s previous quarterly dividend of $0.
09. This represents a $2.50 annualized dividend and a yield of 4.
77%. Teck Resources’s payout ratio is currently 16.37%.
Hedge Funds Weigh In On Teck Resources Several institutional investors have recently added to or reduced their stakes in TECK. Hexagon Capital Partners LLC boosted its position in shares of Teck Resources by 143.0% in the first quarter.
Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock worth $30,000 after buying an additional 386 shares during the period. Creekmur Asset Management LLC acquired a new stake in shares of Teck Resources during the 4th quarter worth approximately $35,000. Headlands Technologies LLC bought a new position in Teck Resources in the 2nd quarter worth approximately $38,000.
Optiver Holding B.V. boosted its stake in Teck Resources by 81.
9% during the 4th quarter. Optiver Holding B.V.
now owns 973 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 438 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in Teck Resources by 583.
1% during the 2nd quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 898 shares in the last quarter.
78.06% of the stock is currently owned by institutional investors and hedge funds. Teck Resources Company Profile ( Get Free Report Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America.
The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen. See Also Receive News & Ratings for Teck Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teck Resources and related companies with MarketBeat.
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