Fintel reports that on September 21, 2023, Morgan Stanley maintained coverage of Teck Resources Ltd - Class B (NYSE:TECK) with a Overweight recommendation.
Analyst Price Forecast Suggests 62.78% Upside
As of August 31, 2023, the average one-year price target for Teck Resources Ltd - Class B is 68.35. The forecasts range from a low of 60.60 to a high of $78.75. The average price target represents an increase of 62.78% from its latest reported closing price of 41.99.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Teck Resources Ltd - Class B is 16,133MM. The projected annual non-GAAP EPS is 6.08.
Teck Resources Ltd - Class B Declares $0.12 Dividend
On July 26, 2023 the company declared a regular quarterly dividend of $0.12 per share ($0.50 annualized). Shareholders of record as of September 15, 2023 will receive the payment on September 29, 2023. Previously, the company paid $0.12 per share.
At the current share price of $41.99 / share, the stock's dividend yield is 1.19%.
Additionally, the company's dividend payout ratio is 0.34. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
What is the Fund Sentiment?
There are 782 funds or institutions reporting positions in Teck Resources Ltd - Class B. This is an increase of 87 owner(s) or 12.52% in the last quarter. Average portfolio weight of all funds dedicated to TECK is 0.74%, an increase of 3.26%. Total shares owned by institutions increased in the last three months by 3.33% to 364,903K shares. 
The put/call ratio of TECK is 0.88, indicating a bullish outlook.
What are Other Shareholders Doing?
Dodge & Cox holds 19,765K shares representing 3.80% ownership of the company. In it's prior filing, the firm reported owning 27,691K shares, representing a decrease of 40.10%. The firm decreased its portfolio allocation in TECK by 19.38% over the last quarter.
Royal Bank Of Canada holds 19,380K shares representing 3.73% ownership of the company. In it's prior filing, the firm reported owning 20,313K shares, representing a decrease of 4.81%. The firm increased its portfolio allocation in TECK by 838.30% over the last quarter.
DODFX - Dodge & Cox International Stock Fund holds 14,161K shares representing 2.72% ownership of the company. In it's prior filing, the firm reported owning 19,941K shares, representing a decrease of 40.82%. The firm decreased its portfolio allocation in TECK by 20.85% over the last quarter.
Davis Selected Advisers holds 12,904K shares representing 2.48% ownership of the company. In it's prior filing, the firm reported owning 13,012K shares, representing a decrease of 0.84%. The firm increased its portfolio allocation in TECK by 5.44% over the last quarter.
Amundi holds 10,320K shares representing 1.99% ownership of the company. In it's prior filing, the firm reported owning 2,465K shares, representing an increase of 76.11%. The firm increased its portfolio allocation in TECK by 291.77% over the last quarter.
Teck Resources Background Information
(This description is provided by the company.)
Headquartered in Vancouver, Canada, Teck is a diversified resource company committed to responsible mining and mineral development with major business units focused on copper, zinc and steelmaking coal, as well as investments in energy assets.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
