Teck Resources Limited (NYSE:TECK) Expected to Post Q1 2022 Earnings of $2.28 Per Share

Teck Resources Limited (NYSE:TECKGet Rating) (TSE:TECK) – Equities researchers at National Bank Financial issued their Q1 2022 earnings per share (EPS) estimates for shares of Teck Resources in a report released on Monday, April 18th. National Bank Financial analyst S. Nagle expects that the basic materials company will post earnings per share of $2.28 for the quarter. National Bank Financial also issued estimates for Teck Resources’ FY2022 earnings at $9.41 EPS.

Teck Resources (NYSE:TECKGet Rating) (TSE:TECK) last posted its earnings results on Thursday, February 24th. The basic materials company reported $2.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.04 by ($0.02). The business had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.54 billion. Teck Resources had a net margin of 21.23% and a return on equity of 13.80%. Teck Resources’s revenue was up 72.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.35 earnings per share.

A number of other analysts have also recently weighed in on TECK. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Teck Resources from $40.00 to $50.00 in a research note on Thursday, March 10th. Credit Suisse Group boosted their price objective on shares of Teck Resources from C$49.53 to C$58.00 in a research note on Thursday, April 14th. Stifel Nicolaus boosted their price objective on shares of Teck Resources from C$57.00 to C$68.00 in a research note on Thursday, March 17th. Morgan Stanley boosted their target price on shares of Teck Resources from $33.00 to $47.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 23rd. Finally, Raymond James boosted their target price on shares of Teck Resources from C$58.00 to C$64.00 in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Teck Resources presently has a consensus rating of “Buy” and an average target price of $50.68.

NYSE TECK opened at $37.24 on Thursday. The company has a 50 day moving average price of $39.35 and a two-hundred day moving average price of $32.76. The company has a quick ratio of 0.99, a current ratio of 1.62 and a debt-to-equity ratio of 0.30. Teck Resources has a 12-month low of $19.32 and a 12-month high of $44.93. The stock has a market capitalization of $19.65 billion, a PE ratio of 8.85, a price-to-earnings-growth ratio of 0.15 and a beta of 1.19.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 31st. Stockholders of record on Tuesday, March 15th were issued a $0.0981 dividend. This is a positive change from Teck Resources’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Monday, March 14th. This represents a $0.39 annualized dividend and a dividend yield of 1.05%. Teck Resources’s dividend payout ratio is presently 9.26%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Yaupon Capital Management LP acquired a new position in Teck Resources during the 4th quarter worth about $2,414,000. Cambridge Investment Research Advisors Inc. acquired a new position in Teck Resources during the 3rd quarter worth about $237,000. Rockefeller Capital Management L.P. lifted its position in Teck Resources by 126.0% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 109,834 shares of the basic materials company’s stock worth $2,735,000 after buying an additional 61,239 shares in the last quarter. Candriam Luxembourg S.C.A. lifted its position in Teck Resources by 10.2% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 36,672 shares of the basic materials company’s stock worth $913,000 after buying an additional 3,400 shares in the last quarter. Finally, Banque Pictet & Cie SA acquired a new position in Teck Resources during the 4th quarter valued at about $2,532,000. Institutional investors and hedge funds own 54.12% of the company’s stock.

About Teck Resources (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, Energy, and Corporate segments. The company's principal products include steelmaking coal; copper, gold, blended bitumen, lead, silver, molybdenum, zinc, and zinc concentrates; chemicals, fertilizers, and other metals.

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Earnings History and Estimates for Teck Resources (NYSE:TECK)

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