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

Teck Resources Limited (NYSE:TECK - Get Free Report) TSE: TECK was the recipient of some unusual options trading activity on Friday. Stock traders purchased 13,287 call options on the stock. This represents an increase of approximately 64% compared to the average volume of 8,112 call options.

Teck Resources Trading Down 2.3 %

TECK traded down $0.92 during trading on Tuesday, reaching $38.64. The company had a trading volume of 5,036,146 shares, compared to its average volume of 3,102,483. The stock has a market cap of $19.19 billion, a P/E ratio of 70.26 and a beta of 1.02. The business has a 50 day simple moving average of $41.87 and a 200-day simple moving average of $45.48. Teck Resources has a 52 week low of $37.75 and a 52 week high of $55.13. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.26 by $0.07. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2.58 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. On average, equities analysts anticipate that Teck Resources will post 1.53 EPS for the current fiscal year.

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Teck Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.0879 per share. This represents a $0.35 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Friday, March 14th. Teck Resources's dividend payout ratio is currently 61.82%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Stonebridge Financial Group LLC bought a new position in shares of Teck Resources in the fourth quarter worth about $25,000. Global Trust Asset Management LLC bought a new stake in shares of Teck Resources during the fourth quarter valued at approximately $27,000. FPC Investment Advisory Inc. bought a new stake in shares of Teck Resources during the fourth quarter valued at approximately $27,000. Community Bank N.A. bought a new position in shares of Teck Resources during the 4th quarter worth $33,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Teck Resources during the third quarter valued at $40,000. 78.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. UBS Group downgraded shares of Teck Resources from a "buy" rating to a "neutral" rating in a report on Monday, November 11th. Raymond James dropped their price objective on shares of Teck Resources from $75.00 to $70.00 and set an "outperform" rating for the company in a report on Wednesday, January 22nd. National Bank Financial downgraded Teck Resources from an "outperform" rating to a "sector perform" rating in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. reduced their price objective on Teck Resources from $55.00 to $51.00 and set an "overweight" rating on the stock in a research note on Thursday, January 16th. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $65.38.

Teck Resources Company Profile

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.