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

Teck Resources Limited (NYSE:TECK) (TSE:TECK) saw some unusual options trading activity on Monday. Traders bought 17,552 call options on the company. This is an increase of approximately 232% compared to the typical volume of 5,283 call options.

Analyst Ratings Changes

Several equities analysts recently issued reports on TECK shares. Morgan Stanley upped their target price on Teck Resources from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, June 21st. JPMorgan Chase & Co. increased their price objective on Teck Resources from $44.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. Finally, Benchmark upped their target price on Teck Resources from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $58.57.

Institutional Investors Weigh In On Teck Resources

A number of institutional investors have recently added to or reduced their stakes in TECK. First Hawaiian Bank raised its holdings in shares of Teck Resources by 6.0% during the first quarter. First Hawaiian Bank now owns 5,552 shares of the basic materials company’s stock valued at $254,000 after acquiring an additional 313 shares during the last quarter. Verdence Capital Advisors LLC increased its position in shares of Teck Resources by 3.3% during the first quarter. Verdence Capital Advisors LLC now owns 10,981 shares of the basic materials company’s stock worth $503,000 after purchasing an additional 353 shares in the last quarter. Wealthsource Partners LLC raised its stake in Teck Resources by 4.6% in the 4th quarter. Wealthsource Partners LLC now owns 8,106 shares of the basic materials company’s stock valued at $343,000 after purchasing an additional 359 shares during the last quarter. Hexagon Capital Partners LLC lifted its holdings in Teck Resources by 143.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 386 shares in the last quarter. Finally, Cigna Investments Inc. New boosted its stake in Teck Resources by 4.6% during the 4th quarter. Cigna Investments Inc. New now owns 8,800 shares of the basic materials company’s stock worth $374,000 after purchasing an additional 391 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Stock Performance

Shares of TECK traded up $0.58 during trading hours on Monday, hitting $48.48. The stock had a trading volume of 626,864 shares, compared to its average volume of 3,621,761. The firm has a market capitalization of $24.77 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 10.35 and a beta of 1.05. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 1.49. The firm has a 50-day moving average price of $49.72 and a 200 day moving average price of $44.49. Teck Resources has a fifty-two week low of $34.38 and a fifty-two week high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its earnings results on Thursday, April 25th. The basic materials company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.31). Teck Resources had a net margin of 10.59% and a return on equity of 7.52%. The business had revenue of $2.96 billion for the quarter, compared to analyst estimates of $2.99 billion. As a group, research analysts anticipate that Teck Resources will post 2.24 EPS for the current year.

Teck Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 17th were paid a dividend of $0.0911 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.75%. The ex-dividend date was Monday, June 17th. Teck Resources’s payout ratio is 15.93%.

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.