Teck Resources Ltd (NYSE:TECK) (TSE:TECK) – B. Riley increased their FY2018 earnings estimates for shares of Teck Resources in a report released on Thursday. B. Riley analyst L. Pipes now anticipates that the basic materials company will post earnings of $2.18 per share for the year, up from their previous estimate of $1.63. B. Riley has a “Buy” rating on the stock.
Other equities analysts also recently issued reports about the stock. BidaskClub downgraded shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a report on Friday, September 15th. ValuEngine downgraded shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 6th. Deutsche Bank restated a “buy” rating and set a $26.00 target price (up from $24.00) on shares of Teck Resources in a report on Monday, September 25th. Zacks Investment Research downgraded shares of Teck Resources from a “buy” rating to a “hold” rating in a report on Friday, October 6th. Finally, Citigroup downgraded shares of Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nineteen have given a buy rating to the company. Teck Resources currently has a consensus rating of “Buy” and an average price target of $30.65.
Shares of Teck Resources (NYSE:TECK) traded down $0.68 during mid-day trading on Monday, hitting $22.85. 5,495,100 shares of the stock were exchanged, compared to its average volume of 5,042,716. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.42 and a current ratio of 2.17. The company has a market capitalization of $13,423.86, a price-to-earnings ratio of 6.39, a PEG ratio of 0.85 and a beta of 1.31. Teck Resources has a twelve month low of $14.56 and a twelve month high of $33.76.
A number of large investors have recently added to or reduced their stakes in TECK. Letko Brosseau & Associates Inc. purchased a new stake in Teck Resources in the second quarter worth $237,787,000. Impala Asset Management LLC purchased a new stake in Teck Resources in the second quarter worth $217,614,000. Capital Research Global Investors purchased a new stake in shares of Teck Resources in the second quarter worth $187,626,000. Vanguard Group Inc. purchased a new stake in shares of Teck Resources in the second quarter worth $182,655,000. Finally, TD Asset Management Inc. purchased a new stake in shares of Teck Resources in the second quarter worth $146,189,000. Institutional investors own 54.26% of the company’s stock.
The business also recently announced a special dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a dividend of $0.3141 per share. This represents a yield of 0.72%. The ex-dividend date of this dividend is Thursday, December 14th. Teck Resources’s payout ratio is presently 2.53%.
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Teck Resources Company Profile
Teck Resources Ltd is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company’s activities are organized into business units that are focused on steelmaking coal, copper, zinc and energy. It operates in five segments: steelmaking coal, copper, zinc, energy and corporate.
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