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

Teck Resources Limited (NYSE:TECK) (TSE:TECK) was the recipient of some unusual options trading activity on Tuesday. Stock investors purchased 13,602 call options on the company. This is an increase of approximately 118% compared to the average daily volume of 6,250 call options.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TECK. JPMorgan Chase & Co. decreased their price objective on Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. National Bank Financial downgraded shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. Raymond James dropped their price objective on Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft downgraded shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 target price on the stock. in a report on Friday, October 25th. Finally, StockNews.com upgraded shares of Teck Resources from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $65.38.

Institutional Investors Weigh In On Teck Resources

Institutional investors and hedge funds have recently modified their holdings of the company. Maryland State Retirement & Pension System grew its stake in Teck Resources by 6.3% in the 4th quarter. Maryland State Retirement & Pension System now owns 55,961 shares of the basic materials company’s stock valued at $2,268,000 after acquiring an additional 3,294 shares during the period. Aviso Financial Inc. raised its position in shares of Teck Resources by 2.6% during the 4th quarter. Aviso Financial Inc. now owns 15,171 shares of the basic materials company’s stock valued at $615,000 after buying an additional 387 shares during the period. Commonwealth Equity Services LLC lifted its stake in shares of Teck Resources by 2.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 13,959 shares of the basic materials company’s stock valued at $566,000 after purchasing an additional 302 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Teck Resources by 2.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 9,809 shares of the basic materials company’s stock valued at $398,000 after acquiring an additional 279 shares during the last quarter. Finally, DSC Meridian Capital LP raised its position in Teck Resources by 60.6% in the fourth quarter. DSC Meridian Capital LP now owns 167,746 shares of the basic materials company’s stock valued at $6,799,000 after purchasing an additional 63,300 shares during the period. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Trading Down 1.9 %

TECK traded down $0.83 during trading hours on Tuesday, reaching $42.34. 1,085,754 shares of the company’s stock traded hands, compared to its average volume of 2,802,711. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average price of $42.43 and a 200 day moving average price of $45.95. Teck Resources has a 52-week low of $36.50 and a 52-week high of $55.13. The firm has a market capitalization of $21.12 billion, a PE ratio of 64.16 and a beta of 1.02.

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a dividend of $0.0895 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.85%. Teck Resources’s payout ratio is currently 53.03%.

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.