Teck Resources Sees Unusually Large Options Volume (NYSE:TECK)

Teck Resources Limited (NYSE:TECK) (TSE:TECK) was the target of unusually large options trading on Friday. Investors acquired 12,112 call options on the stock. This represents an increase of 90% compared to the average daily volume of 6,362 call options.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Global Trust Asset Management LLC bought a new stake in shares of Teck Resources in the 4th quarter valued at $27,000. Eastern Bank acquired a new position in Teck Resources in the third quarter valued at $39,000. Wilmington Savings Fund Society FSB bought a new stake in Teck Resources during the third quarter valued at $40,000. Bruce G. Allen Investments LLC grew its holdings in Teck Resources by 77.4% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock worth $46,000 after acquiring an additional 383 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of Teck Resources by 69.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock worth $52,000 after acquiring an additional 409 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

Teck Resources Price Performance

Shares of NYSE:TECK opened at $43.19 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. Teck Resources has a 52 week low of $36.50 and a 52 week high of $55.13. The firm has a market cap of $21.54 billion, a PE ratio of 65.43 and a beta of 1.05. The firm’s fifty day moving average is $43.74 and its 200-day moving average is $46.66.

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

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a $0.0895 dividend. This represents a $0.36 annualized dividend and a yield of 0.83%. The ex-dividend date was Friday, December 13th. Teck Resources’s payout ratio is presently 53.03%.

Analyst Upgrades and Downgrades

TECK has been the topic of several research analyst reports. StockNews.com raised Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Scotiabank raised their price target on shares of Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research note on Tuesday, October 8th. National Bank Financial cut shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft downgraded shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a research note on Friday, October 25th. Finally, UBS Group cut shares of Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Six analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Teck Resources presently has an average rating of “Moderate Buy” and an average price target of $64.71.

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.