Teck Resources Limited (TECK) To Go Ex-Dividend on December 14th

Teck Resources Limited (NYSE:TECK) (TSE:TECK) declared a quarterly dividend on Thursday, November 16th, RTT News reports. Investors of record on Friday, December 15th will be paid a dividend of 0.125 per share by the basic materials company on Friday, December 29th. This represents a $0.50 annualized dividend and a yield of 1.39%. The ex-dividend date is Thursday, December 14th. This is a boost from Teck Resources’s previous quarterly dividend of $0.09.

Teck Resources has raised its dividend by an average of 82.3% per year over the last three years. Teck Resources has a payout ratio of 8.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Teck Resources to earn $4.43 per share next year, which means the company should continue to be able to cover its $0.37 annual dividend with an expected future payout ratio of 8.4%.

Teck Resources Trading Up 2.1 %

Shares of NYSE TECK opened at $36.04 on Friday. Teck Resources has a 1-year low of $31.42 and a 1-year high of $49.34. The company has a market cap of $18.46 billion, a PE ratio of 11.48, a P/E/G ratio of 4.46 and a beta of 1.07. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average of $39.06 and a two-hundred day moving average of $40.72.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Tuesday, October 24th. The basic materials company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.20). Teck Resources had a return on equity of 9.11% and a net margin of 15.78%. The company had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.77 billion. As a group, equities analysts expect that Teck Resources will post 3.83 earnings per share for the current fiscal year.

Institutional Trading of Teck Resources

Large investors have recently added to or reduced their stakes in the company. Wexford Capital LP acquired a new stake in Teck Resources in the first quarter valued at $237,000. Algert Global LLC acquired a new stake in Teck Resources in the fourth quarter valued at $233,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Teck Resources during the 1st quarter worth about $227,000. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Teck Resources during the 2nd quarter worth about $222,000. Finally, Evergreen Capital Management LLC acquired a new stake in shares of Teck Resources during the 4th quarter worth about $213,000. Institutional investors and hedge funds own 59.23% of the company’s stock.

Analysts Set New Price Targets

TECK has been the subject of several analyst reports. StockNews.com initiated coverage on shares of Teck Resources in a research report on Friday. They set a “hold” rating for the company. JPMorgan Chase & Co. initiated coverage on shares of Teck Resources in a research report on Tuesday, October 17th. They set an “overweight” rating and a $52.00 price target for the company. National Bank Financial upgraded shares of Teck Resources from a “sector perform” rating to an “outperform” rating in a research report on Thursday, July 27th. Wolfe Research raised shares of Teck Resources from a “peer perform” rating to an “outperform” rating in a research note on Friday, November 10th. Finally, B. Riley lowered their target price on shares of Teck Resources from $78.00 to $63.00 and set a “buy” rating for the company in a research note on Thursday, October 26th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $62.91.

Teck Resources Company Profile

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