Teck Resources Limited (NYSE:TECK) Sees Large Increase in Short Interest

Teck Resources Limited (NYSE:TECK - Get Free Report) TSE: TECK was the recipient of a significant increase in short interest in January. As of January 31st, there was short interest totalling 7,990,000 shares, an increase of 17.0% from the January 15th total of 6,830,000 shares. Based on an average daily trading volume, of 2,690,000 shares, the days-to-cover ratio is currently 3.0 days. Approximately 1.6% of the company's stock are sold short.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TECK. Raymond James cut their price target on shares of Teck Resources from $75.00 to $70.00 and set an "outperform" rating on the stock in a research note on Wednesday, January 22nd. UBS Group lowered shares of Teck Resources from a "buy" rating to a "neutral" rating in a research report on Monday, November 11th. StockNews.com raised shares of Teck Resources from a "sell" rating to a "hold" rating in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft lowered shares of Teck Resources from a "buy" rating to a "hold" rating and set a $50.00 price objective on the stock. in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Teck Resources from $55.00 to $51.00 and set an "overweight" rating on the stock in a research report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Teck Resources currently has an average rating of "Moderate Buy" and an average price target of $65.38.

Institutional Investors Weigh In On Teck Resources

A number of hedge funds have recently made changes to their positions in TECK. Stonebridge Financial Group LLC bought a new stake in shares of Teck Resources during the 4th quarter worth $25,000. Global Trust Asset Management LLC bought a new stake in shares of Teck Resources during the 4th quarter worth $27,000. FPC Investment Advisory Inc. bought a new stake in shares of Teck Resources during the 4th quarter worth $27,000. Community Bank N.A. bought a new stake in Teck Resources in the 4th quarter valued at about $33,000. Finally, Eastern Bank bought a new stake in Teck Resources in the 3rd quarter valued at about $39,000. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Trading Up 1.5 %

Shares of TECK stock traded up $0.64 during trading hours on Thursday, hitting $43.34. 3,927,992 shares of the company were exchanged, compared to its average volume of 2,883,969. The firm has a market cap of $21.61 billion, a P/E ratio of 65.66 and a beta of 1.02. Teck Resources has a fifty-two week low of $37.30 and a fifty-two week high of $55.13. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. The company has a 50 day simple moving average of $42.01 and a two-hundred day simple moving average of $45.74.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.07. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. Equities analysts anticipate that Teck Resources will post 1.64 EPS for the current year.

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.0879 per share. This represents a $0.35 annualized dividend and a yield of 0.81%. The ex-dividend date is Friday, March 14th. Teck Resources's dividend payout ratio (DPR) is presently 53.03%.

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.