Teck Resources (NYSE:TECK) Price Target Increased to $50.00 by Analysts at JPMorgan Chase & Co.

Teck Resources (NYSE:TECK) (TSE:TECK) had its target price upped by JPMorgan Chase & Co. from $44.00 to $50.00 in a report released on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the basic materials company’s stock.

TECK has been the topic of a number of other reports. Morgan Stanley reaffirmed an overweight rating and issued a $55.00 price target on shares of Teck Resources in a research note on Thursday, April 11th. Benchmark upped their price target on Teck Resources from $50.00 to $52.00 and gave the stock a buy rating in a research note on Monday, April 8th. Finally, UBS Group assumed coverage on Teck Resources in a research note on Tuesday, January 16th. They issued a buy rating on the stock. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Teck Resources presently has a consensus rating of Moderate Buy and a consensus price target of $65.04.

Teck Resources Stock Up 0.1 %

Shares of Teck Resources stock opened at $47.20 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 0.60 and a debt-to-equity ratio of 0.21. Teck Resources has a 1 year low of $34.38 and a 1 year high of $50.46. The stock has a 50-day moving average price of $42.60 and a 200 day moving average price of $40.07. The company has a market cap of $24.10 billion, a P/E ratio of 13.76, a P/E/G ratio of 6.49 and a beta of 1.15.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.01. The firm had revenue of $3.02 billion for the quarter, compared to analyst estimates of $3.11 billion. Teck Resources had a net margin of 16.21% and a return on equity of 9.67%. As a group, analysts expect that Teck Resources will post 3.51 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a $0.0925 dividend. This represents a $0.37 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend was Thursday, March 14th. Teck Resources’s dividend payout ratio is 10.79%.

Institutional Trading of Teck Resources

Institutional investors have recently bought and sold shares of the stock. Baystate Wealth Management LLC acquired a new stake in Teck Resources in the 3rd quarter valued at $31,000. Money Concepts Capital Corp acquired a new stake in Teck Resources in the 4th quarter valued at $29,000. Creekmur Asset Management LLC acquired a new position in Teck Resources in the fourth quarter worth $35,000. JFS Wealth Advisors LLC boosted its stake in Teck Resources by 249.0% in the third quarter. JFS Wealth Advisors LLC now owns 841 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 600 shares in the last quarter. Finally, Achmea Investment Management B.V. acquired a new position in Teck Resources in the first quarter worth $37,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Company Profile

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.