National Bank Financial Boosts Teck Resources (NYSE:TECK) Price Target to C$55.00

Teck Resources (NYSE:TECK) (TSE:TECK) had its target price upped by National Bank Financial from C$48.50 to C$55.00 in a research report report published on Wednesday morning, The Fly reports.

Several other analysts have also recently weighed in on the stock. Canaccord Genuity Group raised shares of Teck Resources from a hold rating to a buy rating and set a $48.00 price objective on the stock in a research note on Monday, January 10th. B. Riley upped their price target on shares of Teck Resources from C$35.00 to C$39.00 and gave the company a buy rating in a research report on Thursday, October 28th. Bank of America initiated coverage on shares of Teck Resources in a research report on Wednesday, September 29th. They set a buy rating and a $36.00 price target on the stock. upped their price target on shares of Teck Resources from C$28.00 to C$31.00 and gave the company a hold rating in a research report on Wednesday, September 22nd. Finally, CIBC upped their price target on shares of Teck Resources from C$34.00 to C$35.50 and gave the company a neutral rating in a research report on Wednesday, September 22nd. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus price target of $39.13.

NYSE TECK opened at $33.98 on Wednesday. The firm’s fifty day moving average price is $28.10 and its two-hundred day moving average price is $25.58. The stock has a market cap of $17.87 billion, a PE ratio of 24.80, a PEG ratio of 0.21 and a beta of 1.27. Teck Resources has a fifty-two week low of $17.31 and a fifty-two week high of $34.78. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.73 and a current ratio of 1.41.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Wednesday, October 27th. The basic materials company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.40. Teck Resources had a net margin of 8.08% and a return on equity of 9.13%. The company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.63 billion. During the same quarter in the previous year, the firm posted $0.18 earnings per share. Teck Resources’s revenue for the quarter was up 73.3% on a year-over-year basis. As a group, sell-side analysts predict that Teck Resources will post 4.48 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 31st. Investors of record on Wednesday, December 15th were issued a $0.0399 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend was Tuesday, December 14th. This is a positive change from Teck Resources’s previous quarterly dividend of $0.04. Teck Resources’s dividend payout ratio is currently 11.68%.

Hedge funds have recently modified their holdings of the business. Captrust Financial Advisors grew its position in Teck Resources by 427.5% in the 3rd quarter. Captrust Financial Advisors now owns 6,910 shares of the basic materials company’s stock worth $172,000 after purchasing an additional 5,600 shares in the last quarter. Bailard Inc. bought a new stake in Teck Resources in the 2nd quarter worth about $205,000. Assenagon Asset Management S.A. bought a new stake in Teck Resources in the 3rd quarter worth about $209,000. Fiera Capital Corp bought a new stake in Teck Resources in the 2nd quarter worth about $217,000. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in Teck Resources in the 3rd quarter worth about $237,000. 48.71% of the stock is owned by institutional investors and hedge funds.

Teck Resources Company Profile

Teck Resources Ltd. is a resource company, which engages in mining and development of mineral properties. It organized into business units focused on steelmaking coal, copper, zinc, and energy. The firm also offers lead, silver, molybdenum and various specialty and other metals, chemicals and fertilizers.

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