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

Teck Resources (NYSE:TECK) (TSE:TECK) issued its earnings results on Thursday. The basic materials company reported $0.33 earnings per share for the quarter, beating the consensus estimate 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 Trading Up 1.9 %

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

Analysts Set New Price Targets

Several analysts recently commented on the stock. National Bank Financial cut shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. UBS Group cut shares of Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Raymond James reduced their price objective on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research note 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. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Six research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus 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.