Teck Resources Target of Unusually High Options Trading (NYSE:TECK)

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) was the target of unusually large options trading activity on Wednesday. Stock investors purchased 8,672 call options on the company. This represents an increase of approximately 86% compared to the typical volume of 4,651 call options.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TECK shares. Weiss Ratings reissued a “hold (c)” rating on shares of Teck Resources in a report on Wednesday, January 21st. Citigroup upgraded shares of Teck Resources from a “neutral” rating to a “buy” rating in a research note on Monday, February 2nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $46.00 price target on shares of Teck Resources in a research note on Wednesday, November 26th. UBS Group reissued a “buy” rating on shares of Teck Resources in a report on Tuesday, January 27th. Finally, National Bank Financial downgraded Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, December 5th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, Teck Resources has a consensus rating of “Hold” and an average price target of $58.00.

Teck Resources Trading Down 3.7%

NYSE TECK opened at $53.42 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.54. Teck Resources has a one year low of $28.32 and a one year high of $62.41. The company has a 50-day simple moving average of $54.39 and a 200-day simple moving average of $45.62. The firm has a market capitalization of $25.72 billion, a PE ratio of 26.45, a price-to-earnings-growth ratio of 3.38 and a beta of 0.77.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Thursday, February 19th. The basic materials company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.39. Teck Resources had a net margin of 12.98% and a return on equity of 5.90%. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the prior year, the business earned $0.45 earnings per share. Teck Resources’s quarterly revenue was up 9.8% on a year-over-year basis. On average, equities analysts forecast that Teck Resources will post 1.53 earnings per share for the current year.

Teck Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.50 annualized dividend and a dividend yield of 0.9%. Teck Resources’s dividend payout ratio (DPR) is 17.82%.

Institutional Investors Weigh In On Teck Resources

Several large investors have recently added to or reduced their stakes in TECK. Brown Brothers Harriman & Co. acquired a new position in shares of Teck Resources during the fourth quarter valued at $25,000. Versant Capital Management Inc acquired a new stake in shares of Teck Resources in the 3rd quarter worth about $26,000. Smartleaf Asset Management LLC lifted its position in Teck Resources by 72.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 351 shares during the last quarter. SouthState Bank Corp acquired a new position in Teck Resources during the 3rd quarter valued at about $50,000. Finally, Tobam acquired a new position in Teck Resources during the 2nd quarter valued at about $62,000. 78.06% of the stock is owned by institutional investors and hedge funds.

Teck Resources Company Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.