Teck Resources Ltd (NYSE:TECK) (TSE:TECK) – National Bank Financial cut their Q2 2019 earnings per share (EPS) estimates for Teck Resources in a research note issued to investors on Wednesday, July 17th, according to Zacks Investment Research. National Bank Financial analyst S. Nagle now forecasts that the basic materials company will post earnings of $0.65 per share for the quarter, down from their previous estimate of $0.75. National Bank Financial also issued estimates for Teck Resources’ FY2019 earnings at $2.72 EPS and FY2020 earnings at $2.65 EPS.
Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Thursday, July 25th. The basic materials company reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.04). The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.24 billion. Teck Resources had a net margin of 20.37% and a return on equity of 8.49%. During the same period in the previous year, the business posted $1.12 earnings per share.
TECK has been the topic of a number of other reports. B. Riley restated a “buy” rating on shares of Teck Resources in a research report on Friday, July 12th. Barclays downgraded shares of Teck Resources to a “positive” rating in a research report on Tuesday, April 9th. They noted that the move was a valuation call. Macquarie assumed coverage on shares of Teck Resources in a research report on Wednesday, July 10th. They issued a “neutral” rating on the stock. MKM Partners restated a “buy” rating and issued a $28.00 price target (up from $26.00) on shares of Teck Resources in a research report on Wednesday, April 24th. Finally, Zacks Investment Research downgraded shares of Teck Resources from a “buy” rating to a “hold” rating in a research report on Saturday, July 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $29.33.
TECK stock traded down $0.65 during mid-day trading on Monday, hitting $17.91. 2,738,000 shares of the company were exchanged, compared to its average volume of 2,709,929. The stock’s fifty day moving average is $21.78. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.47 and a quick ratio of 2.06. Teck Resources has a twelve month low of $17.68 and a twelve month high of $25.82. The firm has a market cap of $10.30 billion, a P/E ratio of 5.70 and a beta of 1.38.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new stake in Teck Resources in the 4th quarter worth about $285,156,000. CIBC Asset Management Inc boosted its stake in Teck Resources by 1.6% in the 2nd quarter. CIBC Asset Management Inc now owns 7,966,013 shares of the basic materials company’s stock worth $183,825,000 after purchasing an additional 127,161 shares during the period. BlackRock Inc. boosted its stake in Teck Resources by 46.0% in the 4th quarter. BlackRock Inc. now owns 6,240,453 shares of the basic materials company’s stock worth $134,420,000 after purchasing an additional 1,967,067 shares during the period. Dimensional Fund Advisors LP boosted its stake in Teck Resources by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,073,151 shares of the basic materials company’s stock worth $130,816,000 after purchasing an additional 26,365 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in Teck Resources by 2.6% in the 1st quarter. Janus Henderson Group PLC now owns 5,227,867 shares of the basic materials company’s stock worth $120,998,000 after purchasing an additional 131,454 shares during the period. 55.23% of the stock is currently owned by institutional investors and hedge funds.
Teck Resources Company Profile
Teck Resources Limited researches, explores for, develops, and produces natural resources in the Asia Pacific, the Americas, and Europe. It operates through five segments: Steelmaking, Coal, Copper, Zinc, Energy, and Corporate. The company’s principal products include steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.