Teck Resources (NYSE:TECK) Reaches New 52-Week High at $51.65

Teck Resources Limited (NYSE:TECK) (TSE:TECK) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $51.65 and last traded at $51.47, with a volume of 3488610 shares changing hands. The stock had previously closed at $49.59.

Wall Street Analysts Forecast Growth

TECK has been the topic of several research analyst reports. Morgan Stanley reiterated an “overweight” rating and issued a $55.00 price objective on shares of Teck Resources in a report on Thursday, April 11th. JPMorgan Chase & Co. increased their price objective on Teck Resources from $44.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. UBS Group initiated coverage on Teck Resources in a report on Tuesday, January 16th. They issued a “buy” rating for the company. Finally, Benchmark boosted their target price on shares of Teck Resources from $50.00 to $52.00 and gave the company a “buy” rating in a report on Monday, April 8th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $57.86.

Teck Resources Trading Up 3.5 %

The stock has a market cap of $26.27 billion, a price-to-earnings ratio of 22.62, a price-to-earnings-growth ratio of 8.92 and a beta of 1.12. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 1.49. The company has a 50 day moving average of $45.72 and a 200-day moving average of $40.93.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $1.02 EPS for the quarter, beating the consensus estimate of $1.01 by $0.01. The business had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.11 billion. Teck Resources had a net margin of 10.59% and a return on equity of 7.52%. On average, research analysts anticipate that Teck Resources Limited will post 2.67 earnings per share for the current year.

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be paid a $0.0911 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Monday, June 17th. Teck Resources’s payout ratio is currently 16.37%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Teck Resources by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 16,431,096 shares of the basic materials company’s stock worth $694,542,000 after buying an additional 457,592 shares in the last quarter. FIL Ltd grew its holdings in Teck Resources by 98.8% during the 4th quarter. FIL Ltd now owns 11,937,233 shares of the basic materials company’s stock worth $504,588,000 after acquiring an additional 5,933,226 shares in the last quarter. Boston Partners increased its position in shares of Teck Resources by 28.8% in the 4th quarter. Boston Partners now owns 10,881,781 shares of the basic materials company’s stock valued at $484,995,000 after purchasing an additional 2,432,378 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of Teck Resources by 45.7% during the 4th quarter. Mackenzie Financial Corp now owns 6,632,418 shares of the basic materials company’s stock worth $280,491,000 after purchasing an additional 2,080,295 shares during the last quarter. Finally, CIBC Asset Management Inc grew its stake in shares of Teck Resources by 2.8% during the fourth quarter. CIBC Asset Management Inc now owns 6,388,652 shares of the basic materials company’s stock worth $270,918,000 after purchasing an additional 174,492 shares in the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

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.