Teck Resources Sees Unusually High Options Volume (TECK)
Teck Resources Ltd (NYSE:TECK) (TSE:TECK) was the recipient of some unusual options trading activity on Wednesday. Investors bought 8,055 call options on the company. This represents an increase of approximately 266% compared to the typical volume of 2,198 call options.
A number of brokerages recently commented on TECK. Deutsche Bank AG restated a “buy” rating and issued a $23.00 price objective (down previously from $24.00) on shares of Teck Resources in a research report on Sunday, June 25th. Bank of America Corporation downgraded shares of Teck Resources from a “buy” rating to a “neutral” rating and reduced their price target for the company from $27.00 to $19.00 in a research report on Friday, June 9th. J P Morgan Chase & Co upgraded shares of Teck Resources from a “neutral” rating to an “overweight” rating in a research report on Tuesday, May 30th. Berenberg Bank upgraded shares of Teck Resources from a “hold” rating to a “buy” rating in a research report on Wednesday, March 22nd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $38.00 price target (down from $39.00) on shares of Teck Resources in a research report on Friday, June 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-one have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $25.89.
Teck Resources (NYSE:TECK) opened at 17.33 on Friday. The stock’s 50 day moving average is $17.51 and its 200-day moving average is $20.79. The stock has a market capitalization of $9.88 billion, a PE ratio of 13.09 and a beta of 1.22. Teck Resources has a 52 week low of $12.62 and a 52 week high of $26.60.
Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Tuesday, April 25th. The basic materials company reported $0.88 EPS for the quarter, missing the consensus estimate of $1.04 by $0.16. Teck Resources had a net margin of 14.37% and a return on equity of 10.02%. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $3.05 billion. Teck Resources’s revenue was up 70.4% compared to the same quarter last year. Equities research analysts forecast that Teck Resources will post $3.19 EPS for the current year.
The firm also recently announced a semiannual dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 15th were paid a dividend of $0.0741 per share. The ex-dividend date of this dividend was Tuesday, June 13th. This is a positive change from Teck Resources’s previous semiannual dividend of $0.04. This represents a yield of 0.72%. Teck Resources’s dividend payout ratio is currently 7.69%.
ILLEGAL ACTIVITY WARNING: This article was first reported by American Banking News and is owned by of American Banking News. If you are accessing this article on another publication, it was illegally copied and republished in violation of international copyright and trademark law. The original version of this article can be accessed at https://www.americanbankingnews.com/2017/07/01/teck-resources-sees-unusually-high-options-volume-teck.html.
Teck Resources Company Profile
Teck Resources Ltd is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company’s activities are organized into business units that are focused on steelmaking coal, copper, zinc and energy. It operates in five segments: steelmaking coal, copper, zinc, energy and corporate.
Receive News & Ratings for Teck Resources Ltd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teck Resources Ltd and related companies with MarketBeat.com's FREE daily email newsletter.