Teck Resources Limited (NYSE:TECK – Get Rating) (TSE:TECK) – Equities research analysts at B. Riley issued their FY2022 earnings estimates for shares of Teck Resources in a research note issued to investors on Thursday, July 28th. B. Riley analyst L. Pipes forecasts that the basic materials company will earn $7.33 per share for the year. The consensus estimate for Teck Resources’ current full-year earnings is $7.14 per share. B. Riley also issued estimates for Teck Resources’ Q1 2023 earnings at $1.06 EPS, Q2 2023 earnings at $1.03 EPS, Q3 2023 earnings at $0.99 EPS and Q4 2023 earnings at $1.04 EPS.
A number of other equities analysts have also commented on TECK. Raymond James decreased their price target on shares of Teck Resources from C$60.00 to C$56.00 in a report on Thursday. Scotiabank reduced their target price on shares of Teck Resources from C$57.00 to C$54.00 in a report on Thursday. CIBC raised shares of Teck Resources from a “neutral” rating to an “outperform” rating in a report on Wednesday, June 15th. Barclays reduced their target price on shares of Teck Resources from C$50.00 to C$42.00 in a report on Tuesday, July 19th. Finally, Morgan Stanley reaffirmed a “maintains” rating and set a $41.00 target price (down previously from $45.00) on shares of Teck Resources in a report on Thursday. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $49.83.
Teck Resources Price Performance
Shares of NYSE:TECK opened at $29.39 on Monday. The company’s fifty day moving average price is $34.27 and its 200-day moving average price is $36.56. The firm has a market capitalization of $15.33 billion, a price-to-earnings ratio of 4.87, a PEG ratio of 1.83 and a beta of 1.25. Teck Resources has a one year low of $19.32 and a one year high of $45.90. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.92 and a quick ratio of 1.34.
Teck Resources (NYSE:TECK – Get Rating) (TSE:TECK) last issued its quarterly earnings results on Wednesday, July 27th. The basic materials company reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $1.24. The firm had revenue of $5.79 billion for the quarter, compared to analyst estimates of $5.59 billion. Teck Resources had a net margin of 25.82% and a return on equity of 18.76%. The business’s revenue for the quarter was up 126.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.51 EPS.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the business. SG Americas Securities LLC lifted its position in Teck Resources by 265.1% during the 2nd quarter. SG Americas Securities LLC now owns 44,829 shares of the basic materials company’s stock valued at $1,370,000 after acquiring an additional 32,549 shares during the period. Walker Asset Management LLC purchased a new position in Teck Resources during the 2nd quarter valued at about $732,000. Avestar Capital LLC increased its stake in Teck Resources by 114.8% during the 2nd quarter. Avestar Capital LLC now owns 10,983 shares of the basic materials company’s stock valued at $336,000 after purchasing an additional 5,870 shares in the last quarter. Versor Investments LP increased its stake in Teck Resources by 111.4% during the 2nd quarter. Versor Investments LP now owns 49,537 shares of the basic materials company’s stock valued at $1,515,000 after purchasing an additional 26,100 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its stake in Teck Resources by 76.2% during the 2nd quarter. Vontobel Holding Ltd. now owns 215,608 shares of the basic materials company’s stock valued at $6,838,000 after purchasing an additional 93,270 shares in the last quarter. 55.81% of the stock is owned by hedge funds and other institutional investors.
Teck Resources Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th will be given a $0.097 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $0.39 annualized dividend and a dividend yield of 1.32%. Teck Resources’s dividend payout ratio is 6.63%.
Teck Resources Company Profile
Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. It operates through Steelmaking Coal, Copper, Zinc, Energy, and Corporate segments. The company’s principal products include steelmaking coal; copper, gold, blended bitumen, lead, silver, molybdenum, zinc, and zinc concentrates; chemicals, fertilizers, and other metals.