Jefferies Financial Group started coverage on shares of Teck Resources (NYSE:TECK – Get Rating) (TSE:TECK) in a research report report published on Wednesday morning, The Fly reports. The firm issued a buy rating on the basic materials company's stock.

Other research analysts have also issued reports about the stock. CIBC upgraded shares of Teck Resources from a neutral rating to an outperform rating in a research note on Wednesday, June 15th. Morgan Stanley raised Teck Resources from an equal weight rating to an overweight rating and raised their price target for the stock from $41.00 to $51.00 in a report on Friday, September 16th. Stifel Nicolaus lowered their price target on Teck Resources from C$62.00 to C$59.00 in a report on Tuesday, August 16th. Scotiabank lowered their price target on Teck Resources from C$57.00 to C$54.00 in a report on Thursday, July 28th. Finally, Canaccord Genuity Group raised Teck Resources from a hold rating to a buy rating in a report on Thursday, July 28th. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Teck Resources has a consensus rating of Moderate Buy and an average target price of $50.86.

Teck Resources Trading Up 4.7 %

Shares of Teck Resources stock opened at $30.57 on Wednesday. The company has a fifty day simple moving average of $31.83 and a 200-day simple moving average of $35.68. Teck Resources has a 12-month low of $24.11 and a 12-month high of $45.90. The company has a current ratio of 1.82, a quick ratio of 1.25 and a debt-to-equity ratio of 0.25. The stock has a market cap of $15.95 billion, a price-to-earnings ratio of 3.80, a PEG ratio of 0.95 and a beta of 1.09.

Teck Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th will be issued a $0.097 dividend. This represents a $0.39 annualized dividend and a yield of 1.27%. The ex-dividend date is Wednesday, September 14th. Teck Resources's dividend payout ratio (DPR) is presently 4.72%.

Institutional Investors Weigh In On Teck Resources

Several institutional investors and hedge funds have recently bought and sold shares of TECK. Atlas Capital Advisors LLC raised its position in Teck Resources by 4.5% in the 1st quarter. Atlas Capital Advisors LLC now owns 6,777 shares of the basic materials company's stock worth $274,000 after purchasing an additional 289 shares during the last quarter. Wetherby Asset Management Inc. grew its holdings in shares of Teck Resources by 1.0% in the 1st quarter. Wetherby Asset Management Inc. now owns 33,971 shares of the basic materials company's stock valued at $1,372,000 after buying an additional 323 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Teck Resources by 4.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,067 shares of the basic materials company's stock valued at $327,000 after buying an additional 341 shares during the period. RBA Wealth Management LLC boosted its stake in Teck Resources by 0.3% in the 2nd quarter. RBA Wealth Management LLC now owns 132,789 shares of the basic materials company's stock worth $4,059,000 after purchasing an additional 387 shares during the period. Finally, Advisory Services Network LLC boosted its stake in Teck Resources by 2.3% in the 1st quarter. Advisory Services Network LLC now owns 17,629 shares of the basic materials company's stock worth $712,000 after purchasing an additional 391 shares during the period. Institutional investors own 55.01% of the company's stock.

Teck Resources Company Profile

(Get Rating)

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. It operates through Steelmaking Coal, Copper, Zinc, and Energy segments. The company's principal products include copper, zinc, steelmaking coal, and blended bitumen.

Featured Articles

• Get a free copy of the StockNews.com research report on Teck Resources (TECK)
• A Trio of Q3 Winners With Room to Run
• This Little Known Small Cap Is Up 139%: Is The Stock A Buy?
• Can HCA Healthcare Weather the Normalization?
• Can United Natural Foods Fight Both Inflation and the Fed?
• Mullen Automotive Is Ready To Get In Gear

Receive News & Ratings for Teck Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teck Resources and related companies with MarketBeat.com's FREE daily email newsletter.