Teck Resources (NYSE:TECK) Shares Gap Up – Should You Buy?

Teck Resources Ltd (NYSE:TECK) (TSE:TECK)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $45.36, but opened at $48.25. Teck Resources shares last traded at $48.5760, with a volume of 1,364,597 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts recently commented on TECK shares. UBS Group reaffirmed a “buy” rating on shares of Teck Resources in a research note on Tuesday, January 27th. TD Securities restated a “hold” rating on shares of Teck Resources in a report on Monday, February 23rd. Veritas raised shares of Teck Resources from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Teck Resources in a research note on Wednesday, January 21st. Finally, Benchmark boosted their target price on shares of Teck Resources from $48.00 to $67.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $57.00.

Teck Resources Trading Up 0.6%

The firm has a fifty day simple moving average of $54.57 and a 200-day simple moving average of $47.33. The firm has a market cap of $23.35 billion, a P/E ratio of 24.01, a price-to-earnings-growth ratio of 2.94 and a beta of 0.77. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.54 and a quick ratio of 1.91.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Thursday, February 19th. The basic materials company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.59 by $0.39. Teck Resources had a return on equity of 5.90% and a net margin of 12.98%.The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the previous year, the company posted $0.45 earnings per share. The company’s quarterly revenue was up 9.8% on a year-over-year basis. On average, equities research analysts expect that Teck Resources Ltd will post 1.53 earnings per share for the current year.

Teck Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be issued a dividend of $0.125 per share. The ex-dividend date is Friday, March 13th. This represents a $0.50 annualized dividend and a yield of 1.0%. Teck Resources’s dividend payout ratio is presently 18.32%.

Institutional Investors Weigh In On Teck Resources

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Brown Brothers Harriman & Co. bought a new position in Teck Resources in the 4th quarter valued at about $25,000. Versant Capital Management Inc acquired a new position in Teck Resources during the 3rd quarter valued at about $26,000. Smartleaf Asset Management LLC increased its holdings in Teck Resources by 72.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 351 shares in the last quarter. SouthState Bank Corp bought a new stake in Teck Resources during the 3rd quarter worth approximately $50,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Teck Resources by 43.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,741 shares of the basic materials company’s stock worth $76,000 after purchasing an additional 524 shares during the last quarter. 78.06% of the stock is owned by institutional investors.

Teck Resources Company Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.