Teck Resources Ltd. (NYSE:TCK) (TSE:TCK.B)‘s stock had its “sector perform” rating restated by equities researchers at Scotiabank in a research report issued to clients and investors on Saturday. They currently have a $34.00 price objective on the stock, up from their previous price objective of $29.00. Scotiabank’s target price indicates a potential upside of 32.35% from the company’s previous close.
Several other research analysts have also recently issued reports on the company. Barclays PLC raised Teck Resources from an “underweight” rating to an “overweight” rating and increased their price objective for the stock from $22.00 to $36.00 in a research note on Thursday, November 17th. Deutsche Bank AG increased their price objective on Teck Resources from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, November 16th. 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 note on Tuesday, November 15th. FBR & Co reissued a “hold” rating on shares of Teck Resources in a research note on Wednesday, November 2nd. Finally, TheStreet raised Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 27th. Four analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $22.13.
Teck Resources (NYSE:TCK) opened at 25.69 on Friday. 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 cap is $14.81 billion. Teck Resources has a 1-year low of $2.56 and a 1-year high of $26.21.
Teck Resources (NYSE:TCK) last released its earnings results on Thursday, October 27th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.08. The firm had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Teck Resources had a positive return on equity of 1.13% and a negative net margin of 1.42%. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.05 earnings per share. On average, analysts predict that Teck Resources will post $1.09 EPS for the current fiscal year.
The firm also recently announced a semiannual dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 15th will be given a dividend of $0.037 per share. This represents a dividend yield of 0.29%. The ex-dividend date of this dividend is Tuesday, December 13th. Teck Resources’s dividend payout ratio (DPR) is presently -53.33%.
Several large investors have recently bought and sold shares of TCK. Wetherby Asset Management Inc. boosted its stake in Teck Resources by 1.0% in the second quarter. Wetherby Asset Management Inc. now owns 33,318 shares of the company’s stock worth $439,000 after buying an additional 336 shares during the period. Oak Associates Ltd. OH boosted its stake in Teck Resources by 1.0% in the first quarter. Oak Associates Ltd. OH now owns 41,704 shares of the company’s stock worth $317,000 after buying an additional 400 shares during the period. PNC Financial Services Group Inc. boosted its stake in 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 period. Commonwealth Equity Services Inc boosted its stake in 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 period. Finally, Candriam Luxembourg S.C.A. boosted its stake in Teck Resources by 5.9% in the third quarter. Candriam Luxembourg S.C.A. now owns 21,437 shares of the company’s stock worth $386,000 after buying an additional 1,195 shares during the period. Hedge funds and other institutional investors own 47.05% of the company’s stock.
Teck Resources Company Profile