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

Teck Resources Limited (NYSE:TECK - Get Free Report) TSE: TECK was the recipient of unusually large options trading on Friday. Stock traders bought 11,967 call options on the stock. This is an increase of 83% compared to the average volume of 6,549 call options.

Analyst Upgrades and Downgrades

TECK has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their price target on Teck Resources from $57.00 to $55.00 and set an "overweight" rating on the stock in a research report on Friday, October 25th. Scotiabank upped their target price on Teck Resources from $78.00 to $79.00 and gave the company a "sector outperform" rating in a research report on Tuesday, October 8th. Paradigm Capital raised Teck Resources to a "moderate buy" rating in a research report on Friday, July 26th. Deutsche Bank Aktiengesellschaft lowered Teck Resources from a "buy" rating to a "hold" rating and set a $50.00 target price on the stock. in a research report on Friday, October 25th. Finally, Citigroup raised Teck Resources to a "hold" rating in a research report on Wednesday, October 2nd. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $65.29.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TECK. Headlands Technologies LLC bought a new position in Teck Resources during the 2nd quarter worth $38,000. Eastern Bank bought a new position in Teck Resources during the 3rd quarter worth $39,000. Bruce G. Allen Investments LLC grew its stake in shares of Teck Resources by 77.4% in the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company's stock worth $46,000 after purchasing an additional 383 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Teck Resources by 583.1% in the second quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company's stock worth $48,000 after purchasing an additional 898 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its stake in shares of Teck Resources by 69.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company's stock worth $52,000 after purchasing an additional 409 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Stock Performance

Shares of NYSE TECK traded down $0.40 during trading on Friday, reaching $46.81. The stock had a trading volume of 1,785,738 shares, compared to its average volume of 2,840,767. Teck Resources has a one year low of $35.25 and a one year 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 stock has a market cap of $23.55 billion, a PE ratio of 70.92 and a beta of 1.04. The firm's 50 day moving average price is $48.90 and its two-hundred day moving average price is $48.58.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.24. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the previous year, the business earned $0.57 EPS. The business's quarterly revenue was down 20.6% on a year-over-year basis. On average, research analysts forecast that Teck Resources will post 1.86 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a dividend of $0.0895 per share. The ex-dividend date is Friday, December 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.76%. Teck Resources's payout ratio is currently 56.06%.

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.