Today: Today, Teck Resources Ltd. (TCK) Earns Neutral Rating from Analysts at Citigroup Inc.

Today, Teck Resources Ltd. (TCK) Earns Neutral Rating from Analysts at Citigroup Inc.

Stock analysts at Citigroup Inc. began coverage on shares of Teck Resources Ltd. (NYSE:TCK) (TSE:TCK.B) in a research report issued to clients and investors on Monday. The brokerage set a “neutral” rating and a $30.00 price target on the stock. Citigroup Inc.’s price target suggests a potential upside of 16.78% from the stock’s current price.

Several other brokerages have also recently issued reports on TCK. Credit Suisse Group AG upgraded shares of Teck Resources from a “neutral” rating to an “outperform” rating in a report on Monday, October 17th. Raymond James Financial Inc. restated a “market perform” rating and issued a $21.00 target price (up previously from $19.00) on shares of Teck Resources in a report on Thursday, August 25th. Sanford C. Bernstein restated a “sell” rating and issued a $10.00 target price on shares of Teck Resources in a report on Friday, August 19th. Royal Bank Of Canada cut shares of Teck Resources from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from $16.00 to $23.00 in a research note on Friday, August 12th. Finally, National Bank Financial upgraded shares of Teck Resources from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, October 18th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $22.13.

Teck Resources (NYSE:TCK) opened at 25.69 on Monday. 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 of $21.41 and a 200 day moving average of $16.01. The company’s market cap is $14.81 billion.

Teck Resources (NYSE:TCK) last issued its earnings results on Thursday, October 27th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.08. Teck Resources had a negative net margin of 1.42% and a positive return on equity of 1.13%. The company had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter last year, the company posted $0.05 earnings per share. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. Equities analysts expect that Teck Resources will post $1.09 earnings per share for the current year.

The company also recently declared a semiannual dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 15th will be paid a dividend of $0.037 per share. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a dividend yield of 0.29%. Teck Resources’s dividend payout ratio is presently -53.33%.

Institutional investors have recently added to or reduced their stakes in the company. Swiss National Bank boosted its position in Teck Resources by 4.1% in the second quarter. Swiss National Bank now owns 3,207,479 shares of the company’s stock worth $42,024,000 after buying an additional 126,600 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its stake in Teck Resources by 27.9% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 36,123 shares of the company’s stock valued at $476,000 after buying an additional 7,887 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Teck Resources by 26.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 350,536 shares of the company’s stock valued at $4,591,000 after buying an additional 72,252 shares during the period. Bank of New York Mellon Corp boosted its stake in Teck Resources by 44.1% in the second quarter. Bank of New York Mellon Corp now owns 1,288,642 shares of the company’s stock valued at $16,972,000 after buying an additional 394,476 shares during the period. Finally, Quantitative Systematic Strategies LLC bought a new stake in Teck Resources during the second quarter valued at about $600,000. 47.05% of the stock is owned by hedge funds and other institutional investors.

Teck Resources Company Profile

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