Teck Resources Limited (NYSE:TECK) Announces $0.09 Quarterly Dividend

Teck Resources Limited (NYSE:TECK) (TSE:TECK) declared a quarterly dividend on Monday, April 29th, Wall Street Journal reports. Investors of record on Monday, June 17th will be given a dividend of 0.0911 per share by the basic materials company on Friday, June 28th. This represents a $0.36 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Monday, June 17th.

Teck Resources has increased its dividend payment by an average of 34.8% annually over the last three years and has increased its dividend every year for the last 1 years. Teck Resources has a dividend payout ratio of 16.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Teck Resources to earn $2.49 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 14.9%.

Teck Resources Price Performance

Shares of NYSE TECK opened at $51.07 on Tuesday. Teck Resources has a twelve month low of $34.38 and a twelve month high of $51.65. The company has a current ratio of 1.49, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20. The firm has a 50-day moving average of $44.19 and a two-hundred day moving average of $40.48. The company has a market capitalization of $26.07 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 8.48 and a beta of 1.15.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Thursday, February 22nd. The basic materials company reported $1.02 EPS for the quarter, beating the consensus estimate of $1.01 by $0.01. The business had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.11 billion. Teck Resources had a net margin of 10.59% and a return on equity of 7.52%. As a group, analysts expect that Teck Resources will post 2.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TECK. UBS Group assumed coverage on Teck Resources in a report on Tuesday, January 16th. They issued a “buy” rating on the stock. Benchmark lifted their price target on Teck Resources from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. JPMorgan Chase & Co. upped their price objective on shares of Teck Resources from $44.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $55.00 target price on shares of Teck Resources in a research report on Thursday, April 11th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.86.

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.