Teck Resources Ltd (TECK) Coverage Initiated at CIBC

CIBC started coverage on shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) in a research report report published on Friday morning, Marketbeat Ratings reports. The firm issued a sector outperform rating on the basic materials company’s stock.

Other analysts have also recently issued reports about the stock. B. Riley restated a buy rating on shares of Teck Resources in a report on Wednesday, November 1st. BidaskClub cut shares of Teck Resources from a strong-buy rating to a buy rating in a report on Friday, September 15th. ValuEngine cut shares of Teck Resources from a strong-buy rating to a buy rating in a report on Wednesday, September 6th. Deutsche Bank AG restated a buy rating and set a $26.00 price target (up from $24.00) on shares of Teck Resources in a report on Monday, September 25th. Finally, Zacks Investment Research cut shares of Teck Resources from a buy rating to a hold rating in a report on Friday, October 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty have assigned a buy rating to the stock. The stock has an average rating of Buy and an average target price of $30.65.

Teck Resources (TECK) opened at $22.09 on Friday. The company has a quick ratio of 1.42, a current ratio of 2.17 and a debt-to-equity ratio of 0.32. The company has a market cap of $12,511.06, a PE ratio of 5.96, a price-to-earnings-growth ratio of 0.83 and a beta of 1.26. Teck Resources has a fifty-two week low of $14.56 and a fifty-two week high of $33.76.

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The company also recently declared a special dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a $0.3141 dividend. This represents a dividend yield of 0.72%. The ex-dividend date is Thursday, December 14th. Teck Resources’s dividend payout ratio is 2.53%.

Large investors have recently added to or reduced their stakes in the company. Capital Analysts LLC bought a new position in shares of Teck Resources in the second quarter valued at approximately $100,000. Financial Architects Inc bought a new position in shares of Teck Resources in the second quarter valued at approximately $123,000. PNC Financial Services Group Inc. bought a new position in shares of Teck Resources in the second quarter valued at approximately $124,000. Tower Research Capital LLC TRC bought a new position in shares of Teck Resources in the second quarter valued at approximately $164,000. Finally, Candriam Luxembourg S.C.A. bought a new position in shares of Teck Resources in the second quarter valued at approximately $188,000. 46.23% of the stock is currently owned by institutional investors.

About Teck Resources

Teck Resources Ltd is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company’s activities are organized into business units that are focused on steelmaking coal, copper, zinc and energy. It operates in five segments: steelmaking coal, copper, zinc, energy and corporate.

Analyst Recommendations for Teck Resources (NYSE:TECK)

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