Teck Resources (TECK) Announces Quarterly Earnings Results

Teck Resources (NYSE:TECK) (TSE:TECK) released its quarterly earnings data on Tuesday. The basic materials company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01, MarketWatch Earnings reports. Teck Resources had a return on equity of 10.81% and a net margin of 24.75%. The business had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the business posted $1.31 EPS.

Shares of NYSE TECK opened at $24.55 on Wednesday. The stock has a market capitalization of $13.85 billion, a P/E ratio of 7.82 and a beta of 1.27. The company has a quick ratio of 1.29, a current ratio of 2.11 and a debt-to-equity ratio of 0.24. Teck Resources has a 52-week low of $18.17 and a 52-week high of $30.11.

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.038 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.62%. Teck Resources’s dividend payout ratio (DPR) is presently 4.78%.



Several hedge funds and other institutional investors have recently made changes to their positions in TECK. Wetherby Asset Management Inc. lifted its holdings in shares of Teck Resources by 1.7% in the 4th quarter. Wetherby Asset Management Inc. now owns 27,779 shares of the basic materials company’s stock valued at $598,000 after buying an additional 454 shares during the period. Creative Planning lifted its holdings in shares of Teck Resources by 1.5% in the 4th quarter. Creative Planning now owns 58,187 shares of the basic materials company’s stock valued at $1,253,000 after buying an additional 842 shares during the period. JCIC Asset Management Inc. lifted its holdings in shares of Teck Resources by 0.3% in the 1st quarter. JCIC Asset Management Inc. now owns 294,008 shares of the basic materials company’s stock valued at $6,810,000 after buying an additional 960 shares during the period. Bank of Nova Scotia Trust Co. lifted its holdings in shares of Teck Resources by 6.9% in the 4th quarter. Bank of Nova Scotia Trust Co. now owns 23,121 shares of the basic materials company’s stock valued at $498,000 after buying an additional 1,484 shares during the period. Finally, Gotham Asset Management LLC lifted its holdings in shares of Teck Resources by 15.5% in the 4th quarter. Gotham Asset Management LLC now owns 12,749 shares of the basic materials company’s stock valued at $275,000 after buying an additional 1,711 shares during the period. 56.23% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have recently commented on the company. ValuEngine downgraded Teck Resources from a “hold” rating to a “sell” rating in a report on Friday, January 4th. Raymond James reiterated a “buy” rating on shares of Teck Resources in a report on Thursday, April 4th. Bank of America set a $30.00 price objective on Teck Resources and gave the company a “buy” rating in a report on Thursday, April 4th. MKM Partners assumed coverage on Teck Resources in a report on Friday, January 18th. They issued a “buy” rating and a $28.00 price objective on the stock. Finally, Goldman Sachs Group upgraded Teck Resources from a “neutral” rating to a “buy” rating and set a $29.00 price objective on the stock in a report on Monday, January 14th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Teck Resources currently has an average rating of “Buy” and a consensus price target of $29.14.

WARNING: This article was originally reported by Dakota Financial News and is owned by of Dakota Financial News. If you are accessing this article on another publication, it was illegally copied and republished in violation of US & international copyright & trademark law. The original version of this article can be viewed at https://dakotafinancialnews.com/2019/04/23/teck-resources-teck-releases-earnings-results-beats-estimates-by-0-02-eps.html.

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.

Featured Article: Trading signals using Bollinger bands

Earnings History for Teck Resources (NYSE:TECK)

Receive News & Ratings for Teck Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teck Resources and related companies with MarketBeat.com's FREE daily email newsletter.