Traders Purchase Large Volume of Teck Resources Call Options (NYSE:TECK)

Teck Resources Limited (NYSE:TECK) (TSE:TECK) was the target of some unusual options trading on Tuesday. Stock investors acquired 13,602 call options on the company. This represents an increase of approximately 118% compared to the average volume of 6,250 call options.

Hedge Funds Weigh In On Teck Resources

Large investors have recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC bought a new stake in Teck Resources during the 4th quarter worth about $25,000. FPC Investment Advisory Inc. bought a new stake in Teck Resources during the fourth quarter worth about $27,000. Global Trust Asset Management LLC bought a new stake in Teck Resources during the fourth quarter worth about $27,000. Eastern Bank acquired a new position in Teck Resources during the third quarter valued at approximately $39,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Teck Resources in the third quarter valued at approximately $40,000. Institutional investors own 78.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. StockNews.com raised shares of Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. National Bank Financial downgraded Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. UBS Group cut Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Deutsche Bank Aktiengesellschaft downgraded Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a report on Friday, October 25th. Finally, Raymond James reduced their price target on Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research 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 issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $65.38.

Teck Resources Stock Performance

Shares of NYSE:TECK opened at $42.28 on Wednesday. The firm’s 50 day simple moving average is $42.36 and its 200 day simple moving average is $45.92. Teck Resources has a fifty-two week low of $36.50 and a fifty-two week high of $55.13. The company has a market capitalization of $21.09 billion, a price-to-earnings ratio of 64.06 and a beta of 1.02. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a dividend of $0.0895 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.36 annualized dividend and a yield of 0.85%. Teck Resources’s dividend payout ratio (DPR) is currently 53.03%.

About Teck Resources

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.