Teck Resources Ltd (TECK) to Issue Quarterly Dividend of $0.04
Teck Resources Ltd (NYSE:TECK) (TSE:TECK) declared a quarterly dividend on Thursday, July 27th, Wall Street Journal reports. Shareholders of record on Friday, September 15th will be given a dividend of 0.0399 per share by the basic materials company on Friday, September 29th. This represents a $0.16 annualized dividend and a yield of 0.75%. The ex-dividend date is Thursday, September 14th.
Teck Resources (NYSE:TECK) traded up 0.76% on Thursday, reaching $21.25. 6,605,444 shares of the company’s stock traded hands. The stock has a market capitalization of $12.28 billion, a PE ratio of 10.34 and a beta of 1.22. The firm’s 50-day moving average is $17.83 and its 200 day moving average is $20.52. Teck Resources has a 52-week low of $14.56 and a 52-week high of $26.60.
Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Tuesday, April 25th. The basic materials company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by $0.16. The business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $3.05 billion. Teck Resources had a return on equity of 10.02% and a net margin of 14.37%. The firm’s revenue for the quarter was up 70.4% on a year-over-year basis. Analysts forecast that Teck Resources will post $3.11 EPS for the current year.
A number of research firms have recently commented on TECK. Bank of America Corporation raised shares of Teck Resources from a “neutral” rating to a “buy” rating in a report on Friday, June 30th. Deutsche Bank AG reissued a “buy” rating and set a $23.00 price target (down from $24.00) on shares of Teck Resources in a report on Sunday, June 25th. Royal Bank Of Canada reissued an “outperform” rating and set a $38.00 price target (down from $39.00) on shares of Teck Resources in a report on Friday, June 16th. J P Morgan Chase & Co raised shares of Teck Resources from a “neutral” rating to an “overweight” rating in a report on Tuesday, May 30th. Finally, Clarkson Capital reissued a “buy” rating on shares of Teck Resources in a report on Friday, May 19th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $27.03.
About Teck Resources
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.
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