Teck Resources Target of Unusually Large Options Trading (NYSE:TECK)

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

Wall Street Analysts Forecast Growth

TECK has been the subject of several recent analyst reports. National Bank Financial cut shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. StockNews.com upgraded shares of Teck Resources from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft cut 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. Raymond James reduced their price objective on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $65.38.

Teck Resources Stock Performance

NYSE:TECK opened at $42.98 on Thursday. Teck Resources has a 1-year low of $36.50 and a 1-year high of $55.13. The firm has a 50 day simple moving average of $42.30 and a 200-day simple moving average of $45.90. The firm has a market cap of $21.44 billion, a PE ratio of 65.12 and a beta of 1.02. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35.

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. The ex-dividend date was Friday, December 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.83%. Teck Resources’s payout ratio is 53.03%.

Institutional Investors Weigh In On Teck Resources

Several institutional investors have recently bought and sold shares of the business. Stonebridge Financial Group LLC purchased a new stake in Teck Resources during the fourth quarter valued at about $25,000. Global Trust Asset Management LLC purchased a new stake in shares of Teck Resources in the fourth quarter worth approximately $27,000. FPC Investment Advisory Inc. acquired a new position in Teck Resources in the fourth quarter worth approximately $27,000. Community Bank N.A. acquired a new position in Teck Resources in the fourth quarter worth approximately $33,000. Finally, Eastern Bank acquired a new position in Teck Resources in the third quarter worth approximately $39,000. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

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.