Teck Resources Ltd to Post FY2021 Earnings of $1.19 Per Share, National Bank Financial Forecasts (NYSE:TECK)

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) – National Bank Financial dropped their FY2021 earnings per share estimates for Teck Resources in a research report issued to clients and investors on Sunday, March 22nd. National Bank Financial analyst S. Nagle now anticipates that the basic materials company will post earnings of $1.19 per share for the year, down from their previous estimate of $1.25.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Friday, February 21st. The basic materials company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.04). The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.07 billion. Teck Resources had a net margin of 2.79% and a return on equity of 7.03%.

Other analysts also recently issued research reports about the stock. Benchmark initiated coverage on shares of Teck Resources in a report on Monday, March 2nd. They issued a “buy” rating and a $14.00 target price on the stock. Canaccord Genuity reaffirmed a “buy” rating and issued a $25.50 target price on shares of Teck Resources in a report on Wednesday, February 26th. ValuEngine raised shares of Teck Resources from a “sell” rating to a “hold” rating in a report on Tuesday. Royal Bank of Canada lowered their target price on shares of Teck Resources from $28.00 to $24.00 and set an “outperform” rating on the stock in a report on Wednesday. They noted that the move was a valuation call. Finally, B. Riley initiated coverage on shares of Teck Resources in a report on Thursday, January 9th. They issued a “buy” rating and a $35.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the stock. Teck Resources currently has a consensus rating of “Buy” and a consensus target price of $22.96.

Shares of NYSE:TECK opened at $7.53 on Wednesday. The company has a market cap of $4.16 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 2.55 and a beta of 1.49. The firm’s 50-day simple moving average is $10.54 and its 200-day simple moving average is $14.86. The company has a quick ratio of 0.91, a current ratio of 1.62 and a debt-to-equity ratio of 0.21. Teck Resources has a fifty-two week low of $5.60 and a fifty-two week high of $25.75.

A number of hedge funds have recently added to or reduced their stakes in TECK. Amundi Pioneer Asset Management Inc. boosted its holdings in Teck Resources by 72.9% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 360,876 shares of the basic materials company’s stock worth $8,365,000 after buying an additional 152,124 shares in the last quarter. Voya Investment Management LLC boosted its holdings in Teck Resources by 4.9% during the third quarter. Voya Investment Management LLC now owns 270,522 shares of the basic materials company’s stock worth $4,389,000 after buying an additional 12,620 shares in the last quarter. State Street Corp boosted its holdings in Teck Resources by 14.2% during the third quarter. State Street Corp now owns 53,768 shares of the basic materials company’s stock worth $873,000 after buying an additional 6,700 shares in the last quarter. Virtu Financial LLC purchased a new stake in Teck Resources during the third quarter worth about $186,000. Finally, Pictet Asset Management Ltd. boosted its holdings in Teck Resources by 1.1% during the third quarter. Pictet Asset Management Ltd. now owns 189,773 shares of the basic materials company’s stock worth $3,079,000 after buying an additional 2,000 shares in the last quarter. 49.69% of the stock is currently owned by hedge funds and other institutional investors.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be issued a dividend of $0.0377 per share. This represents a $0.15 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Thursday, March 12th. Teck Resources’s dividend payout ratio is currently 6.76%.

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.

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Earnings History and Estimates for Teck Resources (NYSE:TECK)

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