Q4 EPS Estimates for Teck Resources Decreased by Analyst

Teck Resources Limited (NYSE:TECK) (TSE:TECK) – Investment analysts at Raymond James decreased their Q4 2024 earnings per share estimates for shares of Teck Resources in a research report issued on Tuesday, January 21st. Raymond James analyst B. Macarthur now forecasts that the basic materials company will post earnings per share of $0.30 for the quarter, down from their previous forecast of $0.48. Raymond James currently has a “Outperform” rating and a $70.00 target price on the stock. The consensus estimate for Teck Resources’ current full-year earnings is $1.69 per share. Raymond James also issued estimates for Teck Resources’ Q1 2025 earnings at $0.32 EPS, Q2 2025 earnings at $0.39 EPS, Q3 2025 earnings at $0.44 EPS, Q4 2025 earnings at $0.42 EPS and FY2025 earnings at $1.56 EPS.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.24. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. The business had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the previous year, the business posted $0.57 EPS. Teck Resources’s quarterly revenue was down 20.6% on a year-over-year basis.

A number of other equities analysts also recently issued reports on the company. StockNews.com upgraded Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. decreased their price target on Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. UBS Group cut Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Citigroup upgraded shares of Teck Resources to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft cut shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a report on Friday, October 25th. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $65.38.

Teck Resources Stock Up 1.0 %

Shares of NYSE TECK opened at $43.35 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. The company has a 50-day moving average price of $43.56 and a 200-day moving average price of $46.50. The stock has a market capitalization of $21.62 billion, a P/E ratio of 65.68 and a beta of 1.05. Teck Resources has a 1 year low of $36.50 and a 1 year high of $55.13.

Teck Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were given a $0.0895 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.83%. Teck Resources’s payout ratio is 53.03%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Global Trust Asset Management LLC bought a new position in shares of Teck Resources during the 4th quarter valued at $27,000. Eastern Bank purchased a new position in shares of Teck Resources during the third quarter valued at approximately $39,000. Wilmington Savings Fund Society FSB bought a new position in shares of Teck Resources during the third quarter valued at approximately $40,000. Bruce G. Allen Investments LLC lifted its stake in Teck Resources by 77.4% in the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock worth $46,000 after acquiring an additional 383 shares during the period. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in Teck Resources by 69.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 409 shares in the last quarter. 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.