In the last trading session, 5.48 million shares of the Teck Resources Ltd (NYSE:TECK) were traded, and its beta was 1.16. Most recently the company’s share price was $46.26, and it changed around $0.48 or 1.05% from the last close, which brings the market valuation of the company to $23.95B. TECK currently trades at a discount to its 52-week high of $49.34, offering almost -6.66% off that amount. The share price’s 52-week low was $34.38, which indicates that the current value has risen by an impressive 25.68% since then. We note from Teck Resources Ltd’s average daily trading volume that its 10-day average is 3.9 million shares, with the 3-month average coming to 3.76 million.
Teck Resources Ltd stock received a consensus recommendation rating of Buy, based on a mean score of 1.40. If we narrow it down even further, the data shows that 1 out of 19 analysts rate the stock as a Sell; another 4 rate it as Overweight. Among the rest, 3 recommended TECK as a Hold, whereas 11 deemed it a Buy, and 0 rated it as Underweight. Teck Resources Ltd is expected to report earnings per share of $0.97 for the current quarter.
Teck Resources Ltd (NYSE:TECK) trade information
Instantly TECK has showed a green trend with a performance of 1.05% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 9.44% year-to-date, but still up 6.10% over the last five days. On the other hand, Teck Resources Ltd (NYSE:TECK) is 20.41% up in the 30-day period. We can see from the shorts that 4.76 million shares have been sold at a short interest cover period of 2.33 day(s).
The consensus price target as assigned by Wall Street analysts is $40.31, which translates to bulls needing to decrease their stock price by -14.76% from its current value. Analyst projections state that TECK is forecast to be at a low of $27 and a high of $55.7023271.
Teck Resources Ltd (TECK) estimates and forecasts
Teck Resources Ltd share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 8.85 percent over the past six months and at a 5.25% annual growth rate that is well below the industry average of 18.40%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -28.10% in revenue this quarter, and will report an increase of 1.10% in the next quarter. The year-over-year growth rate is expected to be 8.40%, up from the previous year.
Consensus estimates provided by 4 financial analysts predict the company will bring in an average of $3.07 billion in revenue for the current quarter. 4 analysts expect Teck Resources Ltd to make $3.03 billion in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $2.87 billion and $2.59 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 6.80%. Forecasts for the next quarter put sales growth at 16.80%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -3.70%.
TECK Dividends
Teck Resources Ltd’s next quarterly earnings report is expected to be released on April 25. The annual dividend yield of the stock is 0.80 percent and its annual dividend per share was 0.37. It is important to note, however, that the 0.80% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.
Teck Resources Ltd (NYSE:TECK)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 1.03% of Teck Resources Ltd shares, and 77.92% of them are in the hands of institutional investors. The stock currently has a share float of 78.74%. Teck Resources Ltd stock is held by 743 institutions, with Dodge & Cox Inc being the largest institutional investor. By Jun 29, 2023, it held 3.86% of the shares, which is about 19.77 million shares worth $832.11 million.
Royal Bank of Canada, with 3.79% or 19.38 million shares worth $815.9 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.
Dodge & Cox International Stock Fund and Vanguard International Stock Index-Total Intl Stock Indx were the top two Mutual Funds as of Jun 29, 2023. The former held 14.16 million shares worth $596.16 million, making up 2.77% of all outstanding shares. On the other hand, Vanguard International Stock Index-Total Intl Stock Indx held roughly 5.98 million shares worth around $265.6 million, which represents about 1.17% of the total shares outstanding.
