Teck Resources Target of Unusually Large Options Trading (NYSE:TECK)

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) was the recipient of some unusual options trading on Thursday. Traders bought 7,070 call options on the stock. This is an increase of approximately 221% compared to the average daily volume of 2,203 call options.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TECK shares. JPMorgan Chase & Co. raised their price target on shares of Teck Resources from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Teck Resources from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Zacks Research downgraded shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Raymond James Financial raised shares of Teck Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday, July 23rd. Finally, Veritas lowered Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 4th. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, Teck Resources presently has a consensus rating of “Hold” and an average price target of $62.25.

Teck Resources Stock Performance

NYSE TECK traded down $0.85 during trading on Thursday, reaching $65.10. The company’s stock had a trading volume of 555,126 shares, compared to its average volume of 3,699,887. The business’s fifty day moving average price is $61.33 and its 200-day moving average price is $58.98. Teck Resources has a twelve month low of $31.10 and a twelve month high of $71.25. The firm has a market cap of $31.44 billion, a price-to-earnings ratio of 17.66, a P/E/G ratio of 1.87 and a beta of 0.92. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.33 and a current ratio of 3.12.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Thursday, July 23rd. The basic materials company reported $1.35 EPS for the quarter, topping the consensus estimate of $0.95 by $0.40. Teck Resources had a net margin of 17.85% and a return on equity of 10.42%. The company had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same quarter last year, the business earned $0.38 EPS. The business’s revenue was up 78.2% on a year-over-year basis. As a group, analysts anticipate that Teck Resources will post 3.48 EPS for the current fiscal year.

Teck Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, September 15th. Teck Resources’s payout ratio is presently 9.76%.

Institutional Trading of Teck Resources

A number of large investors have recently made changes to their positions in TECK. Brown Brothers Harriman & Co. purchased a new stake in Teck Resources in the 4th quarter worth approximately $25,000. Blue Trust Inc. raised its holdings in shares of Teck Resources by 411.8% in the 1st quarter. Blue Trust Inc. now owns 563 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 453 shares during the period. Geneos Wealth Management Inc. grew its holdings in shares of Teck Resources by 117.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 561 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 303 shares during the period. Oslo Pensjonsforsikring AS acquired a new stake in Teck Resources during the 1st quarter worth approximately $83,000. Finally, Versant Capital Management Inc raised its holdings in Teck Resources by 86.5% in the second quarter. Versant Capital Management Inc now owns 1,587 shares of the basic materials company’s stock valued at $94,000 after buying an additional 736 shares during the period. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Company Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.