Teck Resources Ltd (NYSE:TECK) shares traded -0.37% lower at $35.17 on Wall Street last session.
In accordance with the data, 17 analysts cover Teck Resources Ltd (NYSE:TECK). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $56.81 and a low of $43.70, we find $50.98. Given the previous closing price of $35.30, this indicates a potential upside of 44.42 percent. TECK stock price is now -13.46% away from the 50-day moving average and -14.70% away from the 200-day moving average. The market capitalization of the company currently stands at $18.28B.
It has been rated a hold by 3 analysts and a buy by 13. Brokers who have rated the stock have averaged $50.21 as their price target over the next twelve months.
With the price target of $52, JP Morgan recently initiated with Overweight rating for Teck Resources Ltd (NYSE: TECK).
A total of 2.68% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in TECK stock. A new stake in Teck Resources Ltd shares was purchased by PRICE T ROWE ASSOCIATES INC /MD/ during the first quarter worth $116,432,000. DAVIDE LEONE & PARTNERS INVESTMENT CO LTD. invested $97,610,000 in shares of TECK during the first quarter. In the first quarter, PENTWATER CAPITAL MANAGEMENT LP acquired a new stake in Teck Resources Ltd valued at approximately $65,768,000. DAVIDSON KEMPNER CAPITAL MANAGEMENT LP acquired a new stake in TECK for approximately $57,272,000. WESTCHESTER CAPITAL MANAGEMENT, LLC purchased a new stake in TECK valued at around $48,130,000 in the second quarter. In total, there are 709 active investors with 73.07% ownership of the company’s stock.
During the past 12 months, Teck Resources Ltd has had a low of $29.45 and a high of $49.34. As of last week, the company has a debt-to-equity ratio of 0.40, a current ratio of 1.20, and a quick ratio of 0.68. The fifty day moving average price for TECK is $40.59 and a two-hundred day moving average price translates $41.30 for the stock.
The latest earnings results from Teck Resources Ltd (NYSE: TECK) was released for Sep, 2023. The net profit margin was 15.65% and return on equity was 8.50% for TECK. The company reported revenue of $2.62 billion for the quarter, compared to $4.53 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -42.24 percent. For the current quarter, analysts expect TECK to generate $2.7B in revenue.
In terms of dividend payout ratio, TECK is presently at 7.94%.
Teck Resources Ltd(TECK) Company Profile
Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. It operates through Steelmaking Coal, Copper, Zinc, and Energy segments. The company’s principal products include copper, zinc, steelmaking coal, and blended bitumen. It also produces lead, silver, and molybdenum; and various specialty and other metals, chemicals, and fertilizers. In addition, the company explores for gold. The company was formerly known as Teck Cominco Limited and changed its name to Teck Resources Limited in April 2009. Teck Resources Limited was founded in 1913 and is headquartered in Vancouver, Canada.
