Investors Buy Large Volume of Teck Resources Call Options (NYSE:TECK)

Teck Resources Limited (NYSE:TECK) (TSE:TECK) was the target of unusually large options trading on Monday. Stock investors purchased 17,552 call options on the company. This is an increase of approximately 232% compared to the typical daily volume of 5,283 call options.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Morgan Stanley raised their target price on shares of Teck Resources from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, June 21st. JPMorgan Chase & Co. upped their target price on shares of Teck Resources from $44.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Finally, Benchmark raised their price target 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 equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Teck Resources has an average rating of “Moderate Buy” and an average price target of $58.57.

Teck Resources Stock Up 1.2 %

NYSE:TECK traded up $0.58 during mid-day trading on Monday, hitting $48.48. 626,864 shares of the company’s stock were exchanged, compared to its average volume of 3,621,761. The company has a market cap of $24.77 billion, a PE ratio of 21.41, a P/E/G ratio of 10.35 and a beta of 1.05. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.49 and a quick ratio of 0.86. Teck Resources has a one year low of $34.38 and a one year high of $55.13. The business has a fifty day moving average price of $49.72 and a 200 day moving average price of $44.49.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Thursday, April 25th. The basic materials company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.31). Teck Resources had a return on equity of 7.52% and a net margin of 10.59%. The company had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $2.99 billion. Equities analysts predict 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. Shareholders of record on Monday, June 17th were issued a $0.0911 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date was Monday, June 17th. Teck Resources’s payout ratio is 15.93%.

Institutional Investors Weigh In On Teck Resources

Several institutional investors have recently modified their holdings of the business. Hexagon Capital Partners LLC raised its stake in Teck Resources by 143.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock valued at $30,000 after buying an additional 386 shares during the last quarter. Creekmur Asset Management LLC purchased a new stake in Teck Resources during the fourth quarter valued at $35,000. Optiver Holding B.V. lifted its holdings in Teck Resources by 81.9% in the fourth quarter. Optiver Holding B.V. now owns 973 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 438 shares during the period. First Horizon Advisors Inc. boosted its position in Teck Resources by 69.4% in the fourth quarter. First Horizon Advisors Inc. now owns 1,162 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 476 shares during the last quarter. Finally, Blue Trust Inc. increased its position in shares of Teck Resources by 187.3% during the 4th quarter. Blue Trust Inc. now owns 1,494 shares of the basic materials company’s stock valued at $64,000 after purchasing an additional 974 shares during the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

About Teck Resources

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.