Teck Resources Sees Unusually High Options Volume (TECK)

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Teck Resources Ltd (NYSE:TECK) (TSE:TECK) saw some unusual options trading activity on Wednesday. Stock investors purchased 16,496 call options on the company. This is an increase of 1,814% compared to the typical volume of 862 call options.

Shares of TECK opened at $23.13 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.11 and a quick ratio of 1.29. Teck Resources has a 1-year low of $18.17 and a 1-year high of $30.11. The company has a market cap of $12.38 billion, a PE ratio of 7.37, a price-to-earnings-growth ratio of 0.70 and a beta of 1.24.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Wednesday, February 13th. The basic materials company reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.05. Teck Resources had a net margin of 24.75% and a return on equity of 10.81%. The firm had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same quarter last year, the business earned $1.21 earnings per share. Teck Resources’s revenue was up 1.2% compared to the same quarter last year. As a group, sell-side analysts expect that Teck Resources will post 3.02 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be given a dividend of $0.038 per share. The ex-dividend date is Thursday, March 14th. This represents a $0.15 dividend on an annualized basis and a yield of 0.66%. Teck Resources’s dividend payout ratio (DPR) is currently 4.78%.

TECK has been the subject of a number of research analyst reports. ValuEngine cut shares of Teck Resources from a “sell” rating to a “strong sell” rating in a report on Friday, October 26th. TD Securities reaffirmed a “buy” rating on shares of Teck Resources in a report on Sunday, October 28th. Scotiabank reissued a “buy” rating on shares of Teck Resources in a research note on Tuesday, October 30th. Canaccord Genuity reissued a “buy” rating on shares of Teck Resources in a research note on Tuesday, October 30th. Finally, CIBC reissued a “buy” rating on shares of Teck Resources in a research note on Tuesday, October 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $29.33.

A number of hedge funds and other institutional investors have recently made changes to their positions in TECK. Point72 Asset Management L.P. bought a new stake in shares of Teck Resources in the 3rd quarter worth about $23,775,000. Virginia Retirement Systems ET AL raised its holdings in shares of Teck Resources by 13.5% in the 3rd quarter. Virginia Retirement Systems ET AL now owns 73,100 shares of the basic materials company’s stock worth $1,760,000 after purchasing an additional 8,700 shares in the last quarter. Waratah Capital Advisors Ltd. bought a new stake in shares of Teck Resources in the 4th quarter worth approximately $15,260,000. GSA Capital Partners LLP bought a new stake in shares of Teck Resources in the 3rd quarter worth approximately $6,522,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its holdings in shares of Teck Resources by 18.5% in the 3rd quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 2,874,217 shares of the basic materials company’s stock worth $89,474,000 after purchasing an additional 448,600 shares in the last quarter. Hedge funds and other institutional investors own 53.22% of the company’s stock.

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Teck Resources Company Profile

Teck Resources Limited researches, explores for, develops, and produces natural resources in the Americas, the Asia Pacific, and Europe. It operates through five segments: Steelmaking Coal, Copper, Zinc, Energy, and Corporate. The company's principal products comprise steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.

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