Brokerages Set Teck Resources Ltd (NYSE:TECK) PT at $62.25

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) has been given a consensus recommendation of “Hold” by the thirteen analysts that are covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $62.25.

A number of equities analysts have recently weighed in on TECK shares. Wall Street Zen lowered Teck Resources from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 26th. Veritas downgraded Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 4th. Scotiabank reaffirmed a “sector perform” rating on shares of Teck Resources in a report on Monday, June 15th. Zacks Research cut Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 22nd. Finally, Raymond James Financial raised Teck Resources from a “market perform” rating to an “outperform” rating in a report on Thursday, July 23rd.

Teck Resources Stock Up 0.6%

Teck Resources stock opened at $66.53 on Monday. The stock has a market cap of $32.13 billion, a P/E ratio of 18.03, a P/E/G ratio of 1.94 and a beta of 0.92. The company has a quick ratio of 2.33, a current ratio of 3.12 and a debt-to-equity ratio of 0.12. Teck Resources has a twelve month low of $30.98 and a twelve month high of $71.25. The company’s 50-day moving average price is $61.27 and its two-hundred day moving average price is $58.31.

Teck Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.50 annualized dividend and a dividend yield of 0.8%. Teck Resources’s dividend payout ratio (DPR) is currently 9.76%.

Hedge Funds Weigh In On Teck Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Temasek Holdings Private Ltd lifted its position in shares of Teck Resources by 1.1% in the 4th quarter. Temasek Holdings Private Ltd now owns 5,307,384 shares of the basic materials company’s stock worth $254,171,000 after purchasing an additional 57,380 shares during the period. New York Life Investment Management LLC acquired a new stake in shares of Teck Resources during the fourth quarter worth $11,014,000. Cardinal Point Capital Management ULC bought a new position in Teck Resources during the fourth quarter worth $379,000. ABN Amro Investment Solutions raised its stake in Teck Resources by 156.4% during the fourth quarter. ABN Amro Investment Solutions now owns 510,989 shares of the basic materials company’s stock worth $24,471,000 after buying an additional 311,694 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Teck Resources by 11.6% in the fourth quarter. Principal Financial Group Inc. now owns 18,832,299 shares of the basic materials company’s stock valued at $902,769,000 after buying an additional 1,953,070 shares during the period. 78.06% of the stock is owned by institutional investors and hedge funds.

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.