Teck Resources Ltd. Plans Semiannual Dividend of $0.04 (TCK)
Teck Resources Ltd. (NYSE:TCK) (TSE:TCK.B) declared a semiannual dividend on Friday, November 25th. Stockholders of record on Thursday, December 15th will be paid a dividend of 0.037 per share on Friday, December 30th. This represents a dividend yield of 0.29%. The ex-dividend date is Tuesday, December 13th.
Shares of Teck Resources (NYSE:TCK) traded down 0.73% during trading on Friday, hitting $25.69. The stock had a trading volume of 2,480,752 shares. The firm’s market cap is $14.81 billion. The stock has a 50-day moving average of $21.07 and a 200 day moving average of $15.90. Teck Resources has a 12-month low of $2.56 and a 12-month high of $26.21.
Teck Resources (NYSE:TCK) last issued its quarterly earnings data on Thursday, October 27th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.08. Teck Resources had a positive return on equity of 1.13% and a negative net margin of 1.42%. The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the prior year, the business earned $0.05 earnings per share. The business’s revenue was up 9.7% on a year-over-year basis. On average, analysts predict that Teck Resources will post $1.09 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TCK. AMF Pensionsforsakring AB boosted its stake in shares of Teck Resources by 11.0% in the second quarter. AMF Pensionsforsakring AB now owns 600,028 shares of the company’s stock worth $7,859,000 after buying an additional 59,600 shares during the last quarter. 1832 Asset Management L.P. boosted its stake in shares of Teck Resources by 30.4% in the second quarter. 1832 Asset Management L.P. now owns 43,317 shares of the company’s stock worth $571,000 after buying an additional 10,099 shares during the last quarter. Lord Abbett & CO. LLC bought a new stake in shares of Teck Resources during the second quarter worth $14,098,000. Korea Investment CORP boosted its stake in shares of Teck Resources by 210.9% in the second quarter. Korea Investment CORP now owns 97,300 shares of the company’s stock worth $1,274,000 after buying an additional 66,000 shares during the last quarter. Finally, Advisor Group Inc. bought a new stake in shares of Teck Resources during the second quarter worth $105,000. 47.05% of the stock is currently owned by institutional investors.
Several research firms recently commented on TCK. Barclays PLC upgraded Teck Resources from an “underweight” rating to an “overweight” rating and upped their target price for the company from $22.00 to $36.00 in a research note on Thursday, November 17th. Deutsche Bank AG upped their target price on Teck Resources from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, November 16th. Goldman Sachs Group Inc. upgraded Teck Resources from a “neutral” rating to a “buy” rating and set a $31.00 target price for the company in a research note on Tuesday, November 15th. FBR & Co reiterated a “hold” rating on shares of Teck Resources in a research note on Wednesday, November 2nd. Finally, TheStreet upgraded Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 27th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $21.88.
About Teck Resources
Teck Resources Limited is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company operates through five segments: steelmaking coal, copper, zinc, energy and corporate. Through its interests in mining and processing operations in Canada, the United States, Chile and Peru, the Company exports seaborne steelmaking coal and produces mined zinc.
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