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Teck Resources Limited (TECK): What Are The Positives?

Teck Resources Limited (NYSE:TECK) has a beta value of 1.11 and has seen 2.27 million shares traded in the recent trading session. The company, currently valued at $17.59B, closed the recent trade at $30.61 per share which meant it lost -$1.69 on the day or -5.23% during that session. The TECK stock price is -49.95% off its 52-week high price of $45.90 and 25.48% above the 52-week low of $22.81. If we look at the company’s 10-day average daily trading volume, we find that it stood at 3.78 million shares traded. The 3-month trading volume is 5.43 million shares.

The consensus among analysts is that Teck Resources Limited (TECK) is a Buy stock at the moment, with a recommendation rating of 1.90. 0 analysts rate the stock as a Sell, while 1 rate it as Overweight. 3 out of 22 have rated it as a Hold, with 18 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $1.76.

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Teck Resources Limited (NYSE:TECK) trade information

Sporting -5.23% in the red today, the stock has traded in the red over the last five days, with the highest price hit on Tuesday, 09/20/22 when the TECK stock price touched $30.61 or saw a rise of 8.76%. Year-to-date, Teck Resources Limited shares have moved 13.13%, while the 5-day performance has seen it change -4.35%. Over the past 30 days, the shares of Teck Resources Limited (NYSE:TECK) have changed -5.06%. Short interest in the company has seen 9.3 million shares shorted with days to cover at 1.3.

Wall Street analysts have a consensus price target for the stock at $40.36, which means that the shares’ value could jump 24.16% from the levels at last check today. The projected low price target is $29.54 while the price target rests at a high of $51.00. In that case, then, we find that the latest price level in today’s session is -66.61% off the targeted high while a plunge would see the stock lose 3.5% from the levels at last check today.

Teck Resources Limited (TECK) estimates and forecasts

Figures show that Teck Resources Limited shares have outperformed across the wider relevant industry. The company’s shares have lost -20.17% over the past 6 months, with this year growth rate of 51.99%, compared to 17.20% for the industry. Other than that, the company has, however, increased its growth outlook for the 2022 fiscal year revenue. Growth estimates for the current quarter are 19.70% and -31.00% for the next quarter. Revenue growth from the last financial year stood is estimated to be 41.90%.

6 analysts offering their estimates for the company have set an average revenue estimate of $3.68 billion for the current quarter. 6 have an estimated revenue figure of $3.35 billion for the next quarter concluding in Dec 2022. Year-ago sales stood $2.78 billion and $3.46 billion respectively for this quarter and the next, and analysts expect sales will grow by 32.20% for the current quarter and -3.20% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 24.10% over the past 5 years.

TECK Dividends

Teck Resources Limited is expected to release its next earnings report between April 26 and May 02 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.38 at a share yield of 1.18%. The company’s dividend yield has gone up over the past 12 months.

Teck Resources Limited (NYSE:TECK)’s Major holders

Insiders own 0.30% of the company shares, while shares held by institutions stand at 68.08% with a share float percentage of 68.28%. Investors are also buoyed by the number of investors in a company, with Teck Resources Limited having a total of 649 institutions that hold shares in the company. The top two institutional holders are Dodge & Cox Inc with over 23.03 million shares worth more than $930.29 million. As of Mar 30, 2022, Dodge & Cox Inc held 4.41% of shares outstanding.

The other major institutional holder is Royal Bank of Canada, with the holding of over 21.74 million shares as of Mar 30, 2022. The firm’s total holdings are worth over $878.06 million and represent 4.17% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Dodge & Cox International Stock Fund and Vanguard International Stock Index-Total Intl Stock Indx. As of Jun 29, 2022, the former fund manager holds about 3.23% shares in the company for having 16.86 million shares of worth $515.33 million while later fund manager owns 5.98 million shares of worth $235.9 million as of Apr 29, 2022, which makes it owner of about 1.15% of company’s outstanding stock.

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