Teck Resources (NYSE:TECK) Reaches New 52-Week High at $51.65

Teck Resources Limited (NYSE:TECKGet Free Report) (TSE:TECK)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $51.65 and last traded at $51.47, with a volume of 3488610 shares changing hands. The stock had previously closed at $49.59.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. UBS Group assumed coverage on Teck Resources in a report on Tuesday, January 16th. They issued a “buy” rating on the stock. Morgan Stanley reiterated an “overweight” rating and set a $55.00 price target on shares of Teck Resources in a research note on Thursday, April 11th. Benchmark increased their price target on Teck Resources from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Finally, JPMorgan Chase & Co. raised their target price on Teck Resources from $44.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $57.86.

Get Our Latest Stock Report on Teck Resources

Teck Resources Price Performance

The firm has a fifty day simple moving average of $46.22 and a 200 day simple moving average of $41.09. The company has a market capitalization of $26.44 billion, a PE ratio of 22.88, a P/E/G ratio of 11.38 and a beta of 1.12. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 1.49.

Teck Resources (NYSE:TECKGet Free Report) (TSE:TECK) last posted its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.01. The firm had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $3.11 billion. Teck Resources had a return on equity of 7.52% and a net margin of 10.59%. Equities analysts anticipate that Teck Resources Limited will post 2.18 EPS for the current year.

Teck Resources Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 17th will be given a dividend of $0.0911 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.36 dividend on an annualized basis and a yield of 0.70%. Teck Resources’s dividend payout ratio is currently 15.93%.

Hedge Funds Weigh In On Teck Resources

A number of institutional investors have recently modified their holdings of TECK. Ninety One SA PTY Ltd increased its stake in Teck Resources by 45.1% during the 4th quarter. Ninety One SA PTY Ltd now owns 147,093 shares of the basic materials company’s stock worth $6,236,000 after buying an additional 45,750 shares in the last quarter. Mackenzie Financial Corp increased its stake in Teck Resources by 45.7% during the 4th quarter. Mackenzie Financial Corp now owns 6,632,418 shares of the basic materials company’s stock worth $280,491,000 after buying an additional 2,080,295 shares in the last quarter. Douglas Lane & Associates LLC increased its stake in Teck Resources by 54.3% during the 4th quarter. Douglas Lane & Associates LLC now owns 663,366 shares of the basic materials company’s stock worth $28,040,000 after buying an additional 233,361 shares in the last quarter. Pantechnicon Advisors LLP increased its stake in Teck Resources by 40.1% during the 3rd quarter. Pantechnicon Advisors LLP now owns 465,000 shares of the basic materials company’s stock worth $20,037,000 after buying an additional 133,000 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its stake in Teck Resources by 4.6% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 120,841 shares of the basic materials company’s stock worth $5,191,000 after buying an additional 5,304 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Company Profile

(Get Free Report)

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.

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