Teck Resources Sees Unusually Large Options Volume (TECK)
Teck Resources Ltd (NYSE:TECK) (TSE:TECK) saw some unusual options trading on Friday. Investors acquired 8,937 call options on the company. This represents an increase of 164% compared to the typical volume of 3,381 call options.
Hedge funds have recently made changes to their positions in the company. American Century Companies Inc. bought a new position in shares of Teck Resources in the second quarter valued at approximately $6,823,000. NN Investment Partners Holdings N.V. purchased a new stake in shares of Teck Resources during the second quarter valued at approximately $623,000. Andra AP fonden purchased a new stake in shares of Teck Resources during the second quarter valued at approximately $3,610,000. Great West Life Assurance Co. Can purchased a new stake in shares of Teck Resources during the second quarter valued at approximately $57,911,000. Finally, Exane Asset Management purchased a new stake in shares of Teck Resources during the second quarter valued at approximately $877,000. Institutional investors own 46.80% of the company’s stock.
A number of equities research analysts have commented on the stock. MKM Partners reissued a “buy” rating and set a $28.00 price objective (up previously from $25.00) on shares of Teck Resources in a report on Thursday, August 24th. ValuEngine downgraded shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 6th. Raymond James Financial, Inc. reaffirmed an “outperform” rating on shares of Teck Resources in a research note on Tuesday, August 15th. Deutsche Bank AG reiterated a “buy” rating and set a $26.00 target price (up from $24.00) on shares of Teck Resources in a research report on Monday, September 25th. Finally, BMO Capital Markets upped their target price on shares of Teck Resources from $40.00 to $41.00 and gave the stock an “outperform” rating in a research report on Monday, September 25th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and twenty-four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $30.37.
Teck Resources (NYSE:TECK) opened at 21.09 on Monday. The company’s 50-day moving average is $23.20 and its 200-day moving average is $20.46. The firm has a market cap of $12.19 billion, a PE ratio of 7.47 and a beta of 1.21. Teck Resources has a one year low of $14.56 and a one year high of $26.60.
Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. Teck Resources had a return on equity of 13.01% and a net margin of 17.93%. The business had revenue of $2.82 billion during the quarter, compared to analyst estimates of $2.75 billion. Teck Resources’s revenue was up 62.0% compared to the same quarter last year. On average, analysts forecast that Teck Resources will post $3.55 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were issued a dividend of $0.0399 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Thursday, September 14th. Teck Resources’s dividend payout ratio is 3.01%.
COPYRIGHT VIOLATION WARNING: “Teck Resources Sees Unusually Large Options Volume (TECK)” was first reported by Watch List News and is owned by of Watch List News. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The original version of this piece can be read at https://www.watchlistnews.com/teck-resources-sees-unusually-large-options-volume-teck/1602954.html.
About Teck Resources
Teck Resources Ltd is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company’s activities are organized into business units that are focused on steelmaking coal, copper, zinc and energy. It operates in five segments: steelmaking coal, copper, zinc, energy and corporate.
Receive News & Ratings for Teck Resources Ltd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teck Resources Ltd and related companies with Analyst Ratings Network's FREE daily email newsletter.