Scotiabank reiterated their sector perform rating on shares of Teck Resources Ltd. (NYSE:TCK) (TSE:TCK.B) in a research note released on Saturday. They currently have a $34.00 price target on the stock, up from their prior price target of $29.00.
Other analysts also recently issued research reports about the company. TD Securities restated a buy rating and issued a $24.00 price target on shares of Teck Resources in a research note on Thursday, August 25th. Dundee Securities raised Teck Resources from a neutral rating to a buy rating in a research report on Friday, October 14th. Bank of America Corp. assumed coverage on Teck Resources in a research report on Monday, October 17th. They issued a buy rating on the stock. Paradigm Capital reaffirmed a buy rating and issued a $34.00 price objective (up from $29.00) on shares of Teck Resources in a research report on Saturday, October 29th. Finally, Goldman Sachs Group Inc. raised 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. Four analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $22.13.
Teck Resources (NYSE:TCK) opened at 25.69 on Friday. Teck Resources has a 12 month low of $2.56 and a 12 month high of $26.21. The stock has a 50 day moving average price of $21.41 and a 200 day moving average price of $16.01. The stock’s market capitalization is $14.81 billion.
Teck Resources (NYSE:TCK) last posted its quarterly earnings results on Thursday, October 27th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.08. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $1.65 billion. Teck Resources had a positive return on equity of 1.13% and a negative net margin of 1.42%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.05 EPS. On average, equities research analysts forecast that Teck Resources will post $1.09 earnings per share for the current fiscal year.
The firm also recently declared a semiannual dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 15th will be paid a $0.037 dividend. The ex-dividend date is Tuesday, December 13th. This represents a yield of 0.29%. Teck Resources’s payout ratio is presently -53.33%.
A number of large investors have recently modified their holdings of the company. Advisor Group Inc. purchased a new position in shares of Teck Resources during the second quarter worth $105,000. PNC Financial Services Group Inc. raised its position in shares of Teck Resources by 7.3% in the third quarter. PNC Financial Services Group Inc. now owns 7,343 shares of the company’s stock worth $134,000 after buying an additional 500 shares during the last quarter. Macquarie Group Ltd. purchased a new position in shares of Teck Resources during the second quarter worth $150,000. Fox Run Management L.L.C. purchased a new position in shares of Teck Resources during the third quarter worth $191,000. Finally, Commonwealth Equity Services Inc raised its position in shares of Teck Resources by 4.9% in the second quarter. Commonwealth Equity Services Inc now owns 19,237 shares of the company’s stock worth $253,000 after buying an additional 900 shares during the last quarter. Institutional investors and hedge funds own 47.05% of the company’s stock.
Teck Resources Company Profile