In recent trading session, Teck Resources Ltd (NYSE:TECK) saw 1.59 million shares changing hands at last check today with its beta currently measuring 1.16. Company’s recent per share price level of $48.85 trading at $0.28 or 0.58% at last check today assigns it a market valuation of $25.29B. That most recent trading price of TECK’s stock is at a discount of -2.97% from its 52-week high price of $50.30 and is indicating a premium of 29.62% from its 52-week low price of $34.38. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 5.07 million shares which gives us an average trading volume of 4.04 million if we extend that period to 3-months.
Teck Resources Ltd (NYSE:TECK) trade information
Upright in the green today for gaining 0.58%, in the last five days TECK remained trading in the green while hitting it’s week-highest on Friday, 04/12/24 when the stock touched $48.85 price level, adding 3.08% to its value on the day. Teck Resources Ltd’s shares saw a change of 15.57% in year-to-date performance and have moved 4.54% in past 5-day. Teck Resources Ltd (NYSE:TECK) showed a performance of 6.94% in past 30-days. Number of shares sold short was 4.76 million shares which calculate 1.26 days to cover the short interests.
Teck Resources Ltd (TECK) estimates and forecasts
Statistics highlight that Teck Resources Ltd is scoring comparatively lower than the scores of other players of the relevant industry. The company added 18.74% of value to its shares in past 6 months, showing an annual growth rate of -6.56% while that of industry is 18.90. Apart from that, the company came lowering its revenue forecast for fiscal year 2024. The company is estimating its revenue growth to decrease by -47.40% in the current quarter and calculating -20.00% decrease in the next quarter. This year revenue growth is estimated to rise 8.80% from the last financial year’s standing.
4 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $2.96 billion for the same. And 4 analysts are in estimates of company making revenue of $2.94 billion in the next quarter that will end on Jun 2024. Company posted $2.87 billion and $2.59 billion of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 2.90% while estimating it to be 13.50% for the next quarter.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -3.70% during past 5 years. In 2024, company’s earnings growth rate is likely to be around -14.46% while estimates for its earnings growth in next 5 years are of -10.43%.
TECK Dividends
Teck Resources Ltd is more likely to be releasing its next quarterly report on April 25 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Teck Resources Ltd (NYSE:TECK)’s Major holders
Insiders are in possession of 0.95% of company’s total shares while institution are holding 77.79 percent of that, with stock having share float percentage of 78.54%. Investors also watch the number of corporate investors in a company very closely, which is 77.79% institutions for Teck Resources Ltd that are currently holding shares of the company. Royal Bank of Canada is the top institutional holder at TECK for having 18.8 million shares of worth $918.64 million. And as of Dec 30, 2023, it was holding 3.68% of the company’s outstanding shares.
The second largest institutional holder is Dodge & Cox Inc, which was holding about 18.31 million shares on Dec 30, 2023. The number of shares represents firm’s hold over 3.59% of outstanding shares, having a total worth of $894.99 million.
On the other hand, Dodge & Cox International Stock Fund and Vanguard International Stock Index-Total Intl Stock Indx are the top two Mutual Funds which own company’s shares. As of Dec 30, 2023, the former fund manager was holding 14.16 million shares of worth $692.03 million or 2.77% of the total outstanding shares. The later fund manager was in possession of 6.19 million shares on Jan 30, 2024, making its stake of worth around $302.26 million in the company or a holder of 1.21% of company’s stock.
