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

Teck Resources Limited (NYSE:TECK) (TSE:TECK) saw unusually large options trading activity on Friday. Stock traders acquired 12,112 call options on the stock. This represents an increase of 90% compared to the average volume of 6,362 call options.

Analyst Ratings Changes

TECK has been the subject of several recent analyst reports. Scotiabank raised their target price on shares of Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft downgraded shares of 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. Citigroup upgraded shares of Teck Resources to a “hold” rating in a research note on Wednesday, October 2nd. UBS Group lowered shares of Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Finally, StockNews.com upgraded shares of Teck Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Six analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $64.71.

Hedge Funds Weigh In On Teck Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC raised its position in Teck Resources by 72.8% during the 3rd quarter. FMR LLC now owns 3,634,430 shares of the basic materials company’s stock worth $189,848,000 after purchasing an additional 1,531,563 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new stake in Teck Resources in the third quarter valued at approximately $70,549,000. Principal Financial Group Inc. increased its position in Teck Resources by 21.7% during the 3rd quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company’s stock valued at $388,507,000 after purchasing an additional 1,326,241 shares during the period. Holocene Advisors LP lifted its position in shares of Teck Resources by 152.7% in the 3rd quarter. Holocene Advisors LP now owns 2,070,377 shares of the basic materials company’s stock worth $108,156,000 after purchasing an additional 1,251,203 shares during the period. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Teck Resources by 55.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 2,506,541 shares of the basic materials company’s stock valued at $120,093,000 after purchasing an additional 892,105 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Price Performance

NYSE TECK traded up $0.83 on Friday, hitting $43.19. 4,030,605 shares of the company’s stock were exchanged, compared to its average volume of 2,657,590. Teck Resources has a 52 week low of $36.50 and a 52 week high of $55.13. The stock has a 50-day moving average of $43.85 and a 200-day moving average of $46.69. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The stock has a market cap of $21.65 billion, a price-to-earnings ratio of 65.43 and a beta of 1.05.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.24. The business had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. The firm’s quarterly revenue was down 20.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.57 EPS. Analysts expect that Teck Resources will post 1.7 earnings per share for the current year.

Teck Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were given a dividend of $0.0895 per share. The ex-dividend date was Friday, December 13th. This represents a $0.36 annualized dividend and a yield of 0.83%. Teck Resources’s dividend payout ratio is presently 53.03%.

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.