Teck Resources (TECK) Raised to Hold at ValuEngine

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ValuEngine upgraded shares of Teck Resources (NYSE:TECK) (TSE:TECK) from a sell rating to a hold rating in a research report released on Thursday morning.

Several other analysts also recently issued reports on the stock. BMO Capital Markets began coverage on shares of Teck Resources in a research note on Tuesday. They set an outperform rating on the stock. Bank of America raised Teck Resources to a buy rating in a research report on Thursday, December 20th. Royal Bank of Canada reissued a buy rating on shares of Teck Resources in a research report on Wednesday, December 12th. Deutsche Bank set a $35.00 price target on Teck Resources and gave the company a buy rating in a research report on Monday, December 10th. Finally, CIBC reissued a buy rating on shares of Teck Resources in a research report on Thursday, December 6th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $31.57.

Shares of TECK stock traded down $0.03 during trading hours on Thursday, reaching $22.77. 2,235,033 shares of the stock traded hands, compared to its average volume of 2,554,504. Teck Resources has a 1-year low of $18.17 and a 1-year high of $30.80. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.30 and a quick ratio of 1.39. The firm has a market capitalization of $12.98 billion, a P/E ratio of 6.64, a P/E/G ratio of 0.73 and a beta of 1.23.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Wednesday, October 24th. The basic materials company reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.11). Teck Resources had a net margin of 27.35% and a return on equity of 12.31%. The firm had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.40 billion. Sell-side analysts predict that Teck Resources will post 3.32 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, December 31st. Stockholders of record on Friday, December 14th were paid a $0.038 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend was Thursday, December 13th. Teck Resources’s dividend payout ratio (DPR) is presently 4.37%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Nomura Holdings Inc. increased its position in Teck Resources by 28.1% in the 2nd quarter. Nomura Holdings Inc. now owns 14,092 shares of the basic materials company’s stock worth $359,000 after purchasing an additional 3,091 shares during the last quarter. Riverhead Capital Management LLC increased its position in Teck Resources by 246.7% in the 3rd quarter. Riverhead Capital Management LLC now owns 5,200 shares of the basic materials company’s stock worth $124,000 after purchasing an additional 3,700 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in Teck Resources by 2,675.5% in the second quarter. Advisors Asset Management Inc. now owns 4,191 shares of the basic materials company’s stock worth $107,000 after buying an additional 4,040 shares during the last quarter. NumerixS Investment Technologies Inc acquired a new position in Teck Resources in the second quarter worth approximately $111,000. Finally, Aperio Group LLC increased its holdings in Teck Resources by 0.8% in the third quarter. Aperio Group LLC now owns 576,512 shares of the basic materials company’s stock worth $13,894,000 after buying an additional 4,568 shares during the last quarter. 53.44% of the stock is currently owned by institutional investors and hedge funds.

About Teck Resources

Teck Resources Limited researches, explores for, develops, and produces natural resources in the Americas, the Asia Pacific, and Europe. It operates through five segments: Steelmaking Coal, Copper, Zinc, Energy, and Corporate. The company's principal products comprise steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.

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Analyst Recommendations for Teck Resources (NYSE:TECK)

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