Teck Resources Sees Unusually High Options Volume (NYSE:TECK)

Teck Resources Limited (NYSE:TECK - Get Free Report) TSE: TECK was the target of unusually large options trading on Thursday. Investors purchased 14,855 put options on the stock. This is an increase of 101% compared to the typical daily volume of 7,382 put options.

Wall Street Analyst Weigh In

TECK has been the subject of several analyst reports. JPMorgan Chase & Co. reduced their price objective on Teck Resources from $55.00 to $51.00 and set an "overweight" rating for the company in a research note on Thursday, January 16th. StockNews.com raised Teck Resources from a "sell" rating to a "hold" rating in a report on Thursday, October 24th. UBS Group downgraded Teck Resources from a "buy" rating to a "neutral" rating in a research note on Monday, November 11th. National Bank Financial cut Teck Resources from an "outperform" rating to a "sector perform" rating in a research report on Tuesday, December 10th. Finally, Raymond James dropped their target price 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. Six research 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's stock. According to data from MarketBeat.com, Teck Resources has an average rating of "Moderate Buy" and a consensus price target of $65.38.

Hedge Funds Weigh In On Teck Resources

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

Teck Resources Price Performance

Shares of NYSE:TECK traded down $2.24 during mid-day trading on Friday, reaching $41.12. The stock had a trading volume of 4,162,242 shares, compared to its average volume of 2,921,563. The business's 50 day moving average price is $41.95 and its 200 day moving average price is $45.72. Teck Resources has a 1 year low of $37.30 and a 1 year high of $55.13. The company has a market cap of $20.51 billion, a P/E ratio of 62.30 and a beta of 1.02. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.07. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2.58 billion. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. Research analysts expect that Teck Resources will post 1.64 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.0879 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.35 annualized dividend and a yield of 0.86%. Teck Resources's dividend payout ratio (DPR) is currently 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.