Stock Traders Purchase Large Volume of Put Options on Teck Resources (TCK)
Shares of Teck Resources (NYSE:TCK) were the target of some unusual options trading activity on Friday. Investors purchased 14,588 put options on the company, StockRatingsNetwork reports. This is an increase of 1,062% compared to the average daily volume of 1,255 put options.
TCK has been the subject of a number of recent research reports. Analysts at Goldman Sachs downgraded shares of Teck Resources from a “neutral” rating to a “sell” rating in a research note on Tuesday. Separately, analysts at Scotiabank reiterated a “sector outperform” rating on shares of Teck Resources in a research note on Friday, July 25th. They now have a C$33.00 price target on the stock, up previously from C$31.00. Finally, analysts at National Bank Financial downgraded shares of Teck Resources to an “underperform” rating in a research note on Tuesday, July 22nd. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the stock. Teck Resources presently has a consensus rating of “Hold” and an average price target of $29.42.
Teck Resources (NYSE:TCK) traded down 0.09% during mid-day trading on Friday, hitting $22.99. 1,983,318 shares of the company’s stock traded hands. Teck Resources has a one year low of $19.99 and a one year high of $30.02. The stock has a 50-day moving average of $23.70 and a 200-day moving average of $22.80. The company has a market cap of $13.247 billion and a price-to-earnings ratio of 22.36.
Teck Resources (NYSE:TCK) last released its earnings data on Thursday, July 24th. The company reported $0.13 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.13. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter last year, the company posted $0.34 earnings per share. Teck Resources’s revenue was down 6.6% compared to the same quarter last year. Analysts expect that Teck Resources will post $0.86 EPS for the current fiscal year.
Teck Resources Limited (NYSE:TCK) is engaged in exploring for, developing and producing natural resources.
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