Analysts Set Expectations for Teck Resources Limited’s Q4 2024 Earnings (NYSE:TECK)

Teck Resources Limited (NYSE:TECK) (TSE:TECK) – Stock analysts at Raymond James increased their Q4 2024 earnings per share estimates for shares of Teck Resources in a research note issued on Thursday, September 26th. Raymond James analyst B. Macarthur now forecasts that the basic materials company will earn $0.56 per share for the quarter, up from their previous estimate of $0.53. The consensus estimate for Teck Resources’ current full-year earnings is $1.98 per share. Raymond James also issued estimates for Teck Resources’ Q2 2025 earnings at $0.43 EPS, Q3 2025 earnings at $0.40 EPS, Q4 2025 earnings at $0.39 EPS and FY2025 earnings at $1.67 EPS.

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

Several other equities analysts have also recently issued reports on the company. Benchmark reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Teck Resources in a research report on Thursday, July 25th. JPMorgan Chase & Co. lowered their price target on Teck Resources from $56.00 to $54.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Morgan Stanley increased their price target on Teck Resources from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, June 21st. CIBC increased their price target on Teck Resources from $70.00 to $80.00 and gave the company an “outperformer” rating in a report on Friday, July 12th. Finally, UBS Group raised Teck Resources from a “neutral” rating to a “buy” rating and increased their price target for the company from $76.00 to $78.00 in a report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Teck Resources has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

Teck Resources Stock Performance

TECK stock opened at $51.87 on Monday. The stock has a market capitalization of $26.54 billion, a PE ratio of 22.95 and a beta of 1.01. Teck Resources has a 12-month low of $34.38 and a 12-month high of $55.13. The company has a current ratio of 1.48, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19. The stock’s 50 day simple moving average is $47.29 and its 200 day simple moving average is $48.12.

Institutional Investors Weigh In On Teck Resources

Several hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. increased its stake in Teck Resources by 8.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,357 shares of the basic materials company’s stock worth $480,000 after buying an additional 865 shares in the last quarter. Corient Private Wealth LLC increased its stake in Teck Resources by 7.4% in the 4th quarter. Corient Private Wealth LLC now owns 38,713 shares of the basic materials company’s stock worth $1,636,000 after buying an additional 2,653 shares in the last quarter. US Bancorp DE increased its stake in Teck Resources by 22.1% in the 4th quarter. US Bancorp DE now owns 19,028 shares of the basic materials company’s stock worth $804,000 after buying an additional 3,438 shares in the last quarter. Hsbc Holdings PLC increased its stake in Teck Resources by 9.7% in the 4th quarter. Hsbc Holdings PLC now owns 335,666 shares of the basic materials company’s stock worth $14,197,000 after buying an additional 29,610 shares in the last quarter. Finally, Stifel Financial Corp increased its stake in Teck Resources by 1.2% in the 4th quarter. Stifel Financial Corp now owns 162,305 shares of the basic materials company’s stock worth $6,860,000 after buying an additional 1,872 shares in the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Teck Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 4.82%. This is a positive change from Teck Resources’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Friday, September 13th. Teck Resources’s dividend payout ratio is 16.37%.

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.