Teck Resources Ltd (NYSE:TECK)’s traded shares stood at 2.48 million during the latest session, with the company’s beta value hitting 1.03. At the last check today, the stock’s price was $46.65, to imply a decrease of -5.85% or -$2.9 in intraday trading. The TECK share’s 52-week high remains $54.69, putting it -17.23% down since that peak but still an impressive 26.9% since price per share fell to its 52-week low of $34.10. The company has a valuation of $24.24B, with an average of 3.13 million shares in intraday trading volume over the past 10 days and average of 3.00 million shares over the past 3 months.
Analysts have given a consensus recommendation of Buy for Teck Resources Ltd (TECK), translating to a mean rating of 1.48. Of 13 analyst(s) looking at the stock, 0 analyst(s) give TECK a Sell rating. 1 of those analysts rate the stock as Overweight while 2 advise Hold as 10 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at 0.32.
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Teck Resources Ltd (NYSE:TECK) trade information
After registering a -5.85% downside in the latest session, Teck Resources Ltd (TECK) has traded red over the past five days. The 5-day price performance for the stock is -7.62%, and -7.77% over 30 days. With these gigs, the year-to-date price performance is 11.25%. Short interest in Teck Resources Ltd (NYSE:TECK) saw shorts transact 7.83 million shares and set a 2.42 days time to cover.
The extremes give us $27 and $55.7023271 for target low and target high price respectively. As such, TECK has been trading -19.4% off suggested target high and 42.12% from its likely low.
Teck Resources Ltd (TECK) estimates and forecasts
Looking at statistics comparing Teck Resources Ltd share performance against respective industry, we note that the company has underperformed competitors. Teck Resources Ltd (TECK) shares are -5.08% down over the last 6 months, with its year-to-date growth rate lower than industry average at -51.97% against 16.20%. Revenue is forecast to shrink -43.90% this quarter before falling -58.80% for the next one. The rating firms project that company’s revenue will shrink -10.40% compared to the previous financial year.
Revenue forecast for the current quarter as set by 6 analysts is 2.07B. Meanwhile, for the current quarter, a total of 5 analyst(s) estimate revenue growth to 1.97B.Earnings reports from the last fiscal year show that sales brought in 2.68B and 3B respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to fall -22.90% before dropping -34.40% in the following quarter.
TECK Dividends
Teck Resources Ltd has its next earnings report out on 2024-Oct-24. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Teck Resources Ltd has a forward dividend ratio of 0.37, with the share yield ticking at 0.79% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 1.09%.
Teck Resources Ltd (NYSE:TECK)’s Major holders
Teck Resources Ltd insiders hold 0.95% of total outstanding shares, with institutional holders owning 78.33% of the shares at 79.08% float percentage. In total, 78.33% institutions holds shares in the company, led by FIL LTD. As of 2024-06-30, the company held over 19.32 million shares (or 3.7315% of shares), all amounting to roughly $925.73 million.
The next major institution holding the largest number of shares is ROYAL BANK OF CANADA with 18.42 million shares, or about 3.5588% of shares outstanding. As of the market price on 2024-06-30, these shares were worth $882.5 million.
We also have Dodge & Cox International Stock Fund and Vanguard International Stock Index-Total Intl Stock Indx as the top two Mutual Funds with the largest holdings of the Teck Resources Ltd (TECK) shares. Going by data provided on Jun 30, 2024, Dodge & Cox International Stock Fund holds roughly 10.04 shares. This is just over 1.98% of the total shares, with a market valuation of $464.85 million. Data from the same date shows that the other fund manager holds a little less at 6.3, or 1.24% of the shares, all valued at about 291.56 million.
