Stock Traders Buy Large Volume of Teck Resources Call Options (NYSE:TECK)

Teck Resources Limited (NYSE:TECK - Get Free Report) TSE: TECK was the recipient of some unusual options trading on Wednesday. Stock investors acquired 13,650 call options on the company. This represents an increase of approximately 128% compared to the typical daily volume of 5,986 call options.

Hedge Funds Weigh In On Teck Resources

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of Teck Resources by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 16,431,096 shares of the basic materials company's stock worth $694,542,000 after buying an additional 457,592 shares during the period. FIL Ltd boosted its position in shares of Teck Resources by 98.8% during the fourth quarter. FIL Ltd now owns 11,937,233 shares of the basic materials company's stock worth $504,588,000 after buying an additional 5,933,226 shares during the period. Boston Partners boosted its position in shares of Teck Resources by 28.8% during the fourth quarter. Boston Partners now owns 10,881,781 shares of the basic materials company's stock worth $484,995,000 after buying an additional 2,432,378 shares during the period. Norges Bank acquired a new position in shares of Teck Resources during the fourth quarter worth approximately $291,283,000. Finally, Mackenzie Financial Corp lifted its position in Teck Resources by 45.7% in the fourth quarter. Mackenzie Financial Corp now owns 6,632,418 shares of the basic materials company's stock worth $280,491,000 after purchasing an additional 2,080,295 shares during the period. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Stock Up 0.5 %

Teck Resources stock traded up $0.24 during midday trading on Wednesday, hitting $49.38. The stock had a trading volume of 6,453,189 shares, compared to its average volume of 3,939,531. The company has a current ratio of 1.10, a quick ratio of 0.60 and a debt-to-equity ratio of 0.21. The stock has a market cap of $25.21 billion, a P/E ratio of 14.40, a P/E/G ratio of 6.02 and a beta of 1.15. Teck Resources has a 12 month low of $34.38 and a 12 month high of $50.30. The business has a fifty day moving average price of $41.74 and a 200 day moving average price of $39.85.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.01. The firm had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.11 billion. Teck Resources had a return on equity of 9.67% and a net margin of 16.21%. Research analysts predict that Teck Resources will post 3.77 EPS for the current year.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a $0.0925 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.37 dividend on an annualized basis and a yield of 0.75%. Teck Resources's payout ratio is currently 10.79%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. UBS Group assumed coverage on Teck Resources in a report on Tuesday, January 16th. They issued a "buy" rating on the stock. Morgan Stanley cut their price objective on Teck Resources from $45.00 to $44.00 and set an "overweight" rating on the stock in a research report on Monday, February 26th. Finally, Benchmark raised their price objective on Teck Resources from $50.00 to $52.00 and gave the company a "buy" rating in a research report on Monday. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Teck Resources has a consensus rating of "Moderate Buy" and a consensus price target of $64.29.

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.

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