Teck Resources Limited (NYSE:TECK – Get Rating) (TSE:TECK)’s stock price fell 4.7% during trading on Friday after Scotiabank lowered their price target on the stock from C$65.00 to C$57.00. The company traded as low as $27.32 and last traded at $27.44. 82,866 shares traded hands during trading, a decline of 99% from the average session volume of 6,150,480 shares. The stock had previously closed at $28.78.
A number of other research firms have also weighed in on TECK. Raymond James increased their price objective on shares of Teck Resources from C$58.00 to C$64.00 in a research note on Wednesday, April 20th. StockNews.com began coverage on shares of Teck Resources in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. Morgan Stanley reissued an “equal weight” rating on shares of Teck Resources in a research note on Thursday, June 23rd. National Bank Financial lifted their target price on shares of Teck Resources from C$60.00 to C$65.00 in a research note on Tuesday, April 19th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Teck Resources from $48.00 to $47.00 and set a “buy” rating for the company in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $52.70.
A number of institutional investors have recently bought and sold shares of TECK. Soroban Capital Partners LP acquired a new position in shares of Teck Resources during the fourth quarter valued at $318,590,000. ANTIPODES PARTNERS Ltd grew its holdings in shares of Teck Resources by 330.9% during the first quarter. ANTIPODES PARTNERS Ltd now owns 3,962,472 shares of the basic materials company’s stock worth $160,044,000 after buying an additional 3,042,942 shares in the last quarter. Egerton Capital UK LLP acquired a new position in Teck Resources during the first quarter valued at approximately $111,170,000. Cowa LLC lifted its position in shares of Teck Resources by 9,975.4% in the first quarter. Cowa LLC now owns 2,008,935 shares of the basic materials company’s stock valued at $811,000 after buying an additional 1,988,996 shares during the last quarter. Finally, Alberta Investment Management Corp lifted its position in shares of Teck Resources by 168.6% in the fourth quarter. Alberta Investment Management Corp now owns 3,114,703 shares of the basic materials company’s stock valued at $89,830,000 after buying an additional 1,955,186 shares during the last quarter. 55.81% of the stock is currently owned by institutional investors.
The company has a debt-to-equity ratio of 0.29, a current ratio of 1.92 and a quick ratio of 1.34. The firm has a market cap of $14.44 billion, a P/E ratio of 4.77, a PEG ratio of 0.09 and a beta of 1.25. The company’s 50-day moving average is $38.32 and its two-hundred day moving average is $36.75.
Teck Resources (NYSE:TECK – Get Rating) (TSE:TECK) last released its earnings results on Wednesday, April 27th. The basic materials company reported $2.34 earnings per share for the quarter, beating analysts’ consensus estimates of $2.24 by $0.10. The business had revenue of $5.03 billion during the quarter, compared to the consensus estimate of $5.01 billion. Teck Resources had a net margin of 25.82% and a return on equity of 18.76%. The company’s revenue for the quarter was up 97.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.48 EPS. On average, analysts expect that Teck Resources Limited will post 7.73 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Wednesday, June 15th were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, June 14th. This represents a $0.40 annualized dividend and a yield of 1.46%. This is a positive change from Teck Resources’s previous quarterly dividend of $0.10. Teck Resources’s dividend payout ratio (DPR) is 6.63%.
Teck Resources Company Profile (NYSE:TECK)
Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. It operates through Steelmaking Coal, Copper, Zinc, Energy, and Corporate segments. The company’s principal products include steelmaking coal; copper, gold, blended bitumen, lead, silver, molybdenum, zinc, and zinc concentrates; chemicals, fertilizers, and other metals.