Teck Resources Ltd (TECK) Q2 Earnings Top Estimates
Teck Resources Ltd (TECK) came out with quarterly earnings of $0.58 per share, beating the Zacks Consensus Estimate of $0.47 per share. This compares to earnings of $0.91 per share a year ago.
Teck Resources Ltd (TECK) Expected to Beat Earnings Estimates: What to Know Ahead of Q2 Release
Teck Resources (TECK) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Teck Resources (TECK) Exits Coal to Focus on Copper, Stock Up
Teck Resources (TECK) plans to use the proceeds from the sale of its steelmaking coal business to reduce debt, invest in its copper business and distribute cash to shareholders.
Teck Resources (TECK) Closes Sale of Its Steelmaking Coal Unit
Teck Resources (TECK) completes the sale of its steelmaking coal business, which should enable it to focus on growing its copper growth projects.
Meridian Wealth Management LLC Sells 400 Shares of Teck Resources Limited (NYSE:TECK)
Meridian Wealth Management LLC trimmed its position in shares of Teck Resources Limited (NYSE:TECK – Free Report) (TSE:TECK) by 5.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,104 shares of the basic materials company’s stock after selling 400 shares during the period. Meridian Wealth Management LLC’s holdings in Teck Resources were worth $301,000 at the end of the most recent reporting period. Other large investors also recently modified their holdings of the company. Wealthsource Partners LLC grew its position in shares of Teck Resources by 4.0% during the third quarter. Wealthsource Partners LLC now owns 7,747 shares of the basic materials company’s stock worth $334,000 after purchasing an additional 300 shares in the last quarter. Shell Asset Management Co. boosted its position in shares of Teck Resources by 2.9% during the third quarter. Shell Asset Management Co. now owns 13,649 shares of the basic materials company’s stock worth $590,000 after acquiring an additional 386 shares during the last quarter. Allworth Financial LP grew its stake in Teck Resources by 17.9% during the third quarter. Allworth Financial LP now owns 2,558 shares of the basic materials company’s stock valued at $110,000 after acquiring an additional 388 shares in the last quarter. Cigna Investments Inc. New increased its holdings in Teck Resources by 4.6% in the 4th quarter. Cigna Investments Inc. New now owns 8,800 shares of the basic materials company’s stock valued at $374,000 after acquiring an additional 391 shares during the last quarter. Finally, Kestra Advisory Services LLC lifted its stake in Teck Resources by 4.1% in the 3rd quarter. Kestra Advisory Services LLC now owns 11,511 shares of the basic materials company’s stock worth $496,000 after purchasing an additional 455 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock. Teck Resources Trading Up 3.8 % TECK opened at $53.79 on Monday. The company has a quick ratio of 0.86, a current ratio of 1.49 and a debt-to-equity ratio of 0.20. The stock’s fifty day moving average is $47.46 and its two-hundred day moving average is $41.76. The company has a market capitalization of $27.51 billion, a P/E ratio of 23.80, a PEG ratio of 11.92 and a beta of 1.12. Teck Resources Limited has a 52 week low of $34.38 and a 52 week high of $53.84. Teck Resources (NYSE:TECK – Get Free Report) (TSE:TECK) last posted its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.31). Teck Resources had a net margin of 10.59% and a return on equity of 7.52%. The business had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $2.99 billion. Analysts forecast that Teck Resources Limited will post 2.18 earnings per share for the current year. Teck Resources Cuts Dividend The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be given a $0.0911 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Monday, June 17th. Teck Resources’s payout ratio is 16.37%. Analysts Set New Price Targets Several equities analysts have weighed in on the company. Benchmark raised their price target on Teck Resources from $50.00 to $52.00 and gave the company a “buy” rating in a report on Monday, April 8th. Morgan Stanley restated an “overweight” rating and issued a $55.00 price target on shares of Teck Resources in a research report on Thursday, April 11th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Teck Resources from $44.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $57.86. Get Our Latest Stock Report on Teck Resources Teck Resources Profile (Free Report) 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.
