Stock Traders Purchase High Volume of Teck Resources Call Options (NYSE:TECK)

Teck Resources Limited (NYSE:TECK) (TSE:TECK) was the target of some unusual options trading on Friday. Stock investors purchased 12,112 call options on the stock. This is an increase of approximately 90% compared to the average volume of 6,362 call options.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. JPMorgan Chase & Co. dropped their price objective on Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday. Citigroup raised shares of Teck Resources to a “hold” rating in a research note on Wednesday, October 2nd. Scotiabank upped 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 report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft lowered Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a research report on Friday, October 25th. Finally, National Bank Financial downgraded Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. Six investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $64.71.

Institutional Trading of Teck Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Global Trust Asset Management LLC bought a new stake in Teck Resources during the 4th quarter worth about $27,000. Bourgeon Capital Management LLC raised its holdings in Teck Resources by 7.7% during the fourth quarter. Bourgeon Capital Management LLC now owns 7,000 shares of the basic materials company’s stock worth $284,000 after acquiring an additional 500 shares in the last quarter. Atomi Financial Group Inc. bought a new stake in Teck Resources during the fourth quarter worth about $1,350,000. Park Avenue Securities LLC boosted its position in Teck Resources by 5.7% during the fourth quarter. Park Avenue Securities LLC now owns 8,960 shares of the basic materials company’s stock valued at $363,000 after purchasing an additional 486 shares during the last quarter. Finally, Leibman Financial Services Inc. increased its position in shares of Teck Resources by 1.3% during the 4th quarter. Leibman Financial Services Inc. now owns 98,025 shares of the basic materials company’s stock worth $3,973,000 after purchasing an additional 1,275 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Stock Up 1.9 %

TECK stock traded up $0.83 during mid-day trading on Friday, hitting $43.19. 4,030,605 shares of the company were exchanged, compared to its average volume of 2,657,590. The firm has a market cap of $21.65 billion, a P/E ratio of 65.43 and a beta of 1.05. Teck Resources has a 1-year low of $36.50 and a 1-year high of $55.13. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. The firm’s 50 day simple moving average is $43.85 and its 200 day simple moving average is $46.69.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.36 by $0.24. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. The business had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same period in the previous year, the firm posted $0.57 EPS. The firm’s revenue was down 20.6% compared to the same quarter last year. On average, sell-side analysts predict that Teck Resources will post 1.7 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were given a dividend of $0.0895 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date was Friday, December 13th. Teck Resources’s dividend payout ratio (DPR) is currently 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.