Teck Resources Ltd (NYSE:TECK) Issues Earnings Results

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) released its quarterly earnings data on Thursday. The basic materials company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02, Morningstar.com reports. The company had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.75 billion. Teck Resources had a return on equity of 13.14% and a net margin of 17.93%. The firm’s revenue was up 62.0% compared to the same quarter last year.

Teck Resources (NYSE:TECK) traded down 0.19% on Friday, reaching $21.21. 3,106,584 shares of the company traded hands. The company has a market capitalization of $12.25 billion, a PE ratio of 10.32 and a beta of 1.22. The stock has a 50-day moving average of $18.02 and a 200 day moving average of $20.53. Teck Resources has a 52-week low of $14.56 and a 52-week high of $26.60.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a $0.0399 dividend. This represents a $0.16 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Thursday, September 14th. Teck Resources’s dividend payout ratio (DPR) is presently 5.64%.

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A number of hedge funds have recently modified their holdings of the stock. Winslow Evans & Crocker Inc. acquired a new position in shares of Teck Resources during the second quarter worth approximately $108,000. Financial Architects Inc acquired a new position in shares of Teck Resources during the second quarter worth approximately $123,000. Nexus Investment Management Inc. acquired a new position in shares of Teck Resources during the second quarter worth approximately $182,000. Atria Investments LLC acquired a new position in shares of Teck Resources during the second quarter worth approximately $231,000. Finally, US Bancorp DE acquired a new position in shares of Teck Resources during the second quarter worth approximately $320,000. Hedge funds and other institutional investors own 45.53% of the company’s stock.

A number of equities research analysts have weighed in on the company. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $38.00 price objective (down from $39.00) on shares of Teck Resources in a report on Friday, June 16th. Deutsche Bank AG reaffirmed a “buy” rating and set a $23.00 price objective (down from $24.00) on shares of Teck Resources in a report on Sunday, June 25th. Bank of America Corporation downgraded Teck Resources from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $27.00 to $19.00 in a report on Friday, June 9th. Clarkson Capital reaffirmed a “buy” rating on shares of Teck Resources in a report on Friday, May 19th. Finally, J P Morgan Chase & Co raised Teck Resources from a “neutral” rating to an “overweight” rating in a report on Tuesday, May 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $27.03.

Teck Resources Company Profile

Teck Resources Ltd is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company’s activities are organized into business units that are focused on steelmaking coal, copper, zinc and energy. It operates in five segments: steelmaking coal, copper, zinc, energy and corporate.