Deutsche Bank AG reissued their buy rating on shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) in a research report report published on Sunday morning. The brokerage currently has a $23.00 price objective on the basic materials company’s stock, down from their previous price objective of $24.00.
TECK has been the topic of several other research reports. J P Morgan Chase & Co raised Teck Resources from a neutral rating to an overweight rating in a research note on Tuesday, May 30th. Berenberg Bank raised Teck Resources from a hold rating to a buy rating in a research note on Wednesday, March 22nd. Royal Bank Of Canada reissued an outperform rating and set a $38.00 price target (down previously from $39.00) on shares of Teck Resources in a research note on Friday, June 16th. Credit Suisse Group reissued an outperform rating on shares of Teck Resources in a research note on Tuesday, April 18th. Finally, Bank of America Corporation lowered Teck Resources from a buy rating to a neutral rating and decreased their price target for the stock from $27.00 to $19.00 in a research note on Friday, June 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty have assigned a buy rating to the company’s stock. Teck Resources presently has an average rating of Buy and a consensus target price of $25.89.
Shares of Teck Resources (NYSE:TECK) traded up 4.22% during trading on Friday, hitting $16.55. The company’s stock had a trading volume of 6,943,125 shares. The stock has a market cap of $9.56 billion, a PE ratio of 8.42 and a beta of 1.22. Teck Resources has a one year low of $11.04 and a one year high of $26.60. The company has a 50-day moving average price of $17.97 and a 200-day moving average price of $21.15.
Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Tuesday, April 25th. The basic materials company reported $0.88 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.04 by $0.16. The business had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Teck Resources had a net margin of 14.37% and a return on equity of 10.02%. The firm’s revenue was up 70.4% on a year-over-year basis. Equities analysts predict that Teck Resources will post $3.22 EPS for the current fiscal year.
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The company also recently disclosed a semiannual dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be issued a dividend of $0.0741 per share. This represents a dividend yield of 0.72%. This is an increase from Teck Resources’s previous semiannual dividend of $0.04. The ex-dividend date of this dividend is Tuesday, June 13th. Teck Resources’s dividend payout ratio is presently 7.69%.
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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