Teck Resources (NYSE:TECK) Releases Earnings Results, Beats Expectations By $0.07 EPS

Teck Resources (NYSE:TECK) (TSE:TECK) announced its quarterly earnings data on Thursday. The basic materials company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07, Zacks reports. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%.

Teck Resources Stock Performance

Teck Resources stock traded up $0.82 during midday trading on Thursday, hitting $43.52. 2,107,931 shares of the company’s stock were exchanged, compared to its average volume of 2,827,331. Teck Resources has a 12-month low of $37.30 and a 12-month high of $55.13. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. The stock has a market cap of $21.70 billion, a price-to-earnings ratio of 66.06 and a beta of 1.02. The firm’s 50 day simple moving average is $42.05 and its 200 day simple moving average is $45.75.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TECK. Raymond James reduced their price objective on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, January 22nd. StockNews.com upgraded shares of Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. National Bank Financial lowered shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. cut their price target on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a research note on Friday, October 25th. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Teck Resources currently has an average rating of “Moderate Buy” and a consensus target price of $65.38.

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.