Teck Resources Limited Forecasted to Post Q4 2024 Earnings of $0.29 Per Share (NYSE:TECK)

Teck Resources Limited (NYSE:TECK) (TSE:TECK) – Investment analysts at B. Riley upped their Q4 2024 earnings per share estimates for shares of Teck Resources in a research report issued on Tuesday, October 1st. B. Riley analyst L. Pipes now expects that the basic materials company will post earnings per share of $0.29 for the quarter, up from their previous estimate of $0.28. The consensus estimate for Teck Resources’ current full-year earnings is $1.98 per share. B. Riley also issued estimates for Teck Resources’ FY2025 earnings at $1.24 EPS and FY2026 earnings at $1.02 EPS.

Other analysts also recently issued research reports about the company. CIBC lifted their target price on Teck Resources from $70.00 to $80.00 and gave the company an “outperformer” rating in a research note on Friday, July 12th. Benchmark reaffirmed a “buy” rating and set a $55.00 target price on shares of Teck Resources in a research note on Thursday, July 25th. Morgan Stanley lifted their price target on Teck Resources from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, June 21st. StockNews.com cut Teck Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, September 25th. Finally, UBS Group upgraded Teck Resources from a “neutral” rating to a “buy” rating and lifted their price target for the company from $76.00 to $78.00 in a research report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $65.00.

Teck Resources Stock Up 0.9 %

Shares of Teck Resources stock opened at $51.81 on Thursday. The business’s fifty day moving average price is $47.76 and its two-hundred day moving average price is $48.27. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 0.77. The company has a market capitalization of $26.47 billion, a P/E ratio of 22.92 and a beta of 1.02. Teck Resources has a 1-year low of $34.38 and a 1-year high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.32. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $2.67 billion. Teck Resources had a return on equity of 6.52% and a net margin of 9.40%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 EPS.

Teck Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 4.83%. This is a positive change from Teck Resources’s previous quarterly dividend of $0.09. The ex-dividend date was Friday, September 13th. Teck Resources’s payout ratio is currently 16.37%.

Hedge Funds Weigh In On Teck Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Teck Resources by 1.8% during the first quarter. Vanguard Group Inc. now owns 16,721,130 shares of the basic materials company’s stock valued at $765,493,000 after acquiring an additional 290,034 shares during the period. FIL Ltd grew its stake in shares of Teck Resources by 98.8% in the 4th quarter. FIL Ltd now owns 11,937,233 shares of the basic materials company’s stock valued at $504,588,000 after purchasing an additional 5,933,226 shares during the period. Janus Henderson Group PLC grew its stake in shares of Teck Resources by 2.4% in the 1st quarter. Janus Henderson Group PLC now owns 8,604,605 shares of the basic materials company’s stock valued at $394,178,000 after purchasing an additional 203,607 shares during the period. CIBC Asset Management Inc grew its stake in shares of Teck Resources by 1.4% in the 2nd quarter. CIBC Asset Management Inc now owns 6,330,121 shares of the basic materials company’s stock valued at $303,161,000 after purchasing an additional 90,089 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of Teck Resources by 7.3% in the 2nd quarter. Principal Financial Group Inc. now owns 6,103,740 shares of the basic materials company’s stock valued at $292,441,000 after purchasing an additional 416,070 shares during the period. 78.06% of the stock is currently owned by institutional investors.

About Teck Resources

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.