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

Key Points

• Teck Resources recently experienced a significant increase in put options trading, with 9,792 put options bought, marking a 72% rise over the average daily volume.
• The company's stock has received mixed analyst ratings, with a recent downgrade from CIBC to "neutral," while Stifel raised its rating to "hold."
• Teck Resources has announced a dividend increase to $0.0918 per share, reflecting a commitment to return value to shareholders amidst fluctuating stock performance.

Teck Resources Ltd (NYSE:TECK - Get Free Report) TSE: TECK was the recipient of unusually large options trading on Monday. Stock investors acquired 9,792 put options on the stock. This represents an increase of 72% compared to the average volume of 5,692 put options.

Wall Street Analysts Forecast Growth

TECK has been the subject of a number of recent analyst reports. BMO Capital Markets assumed coverage on Teck Resources in a research report on Wednesday, April 16th. They issued an "outperform" rating for the company. B. Riley downgraded shares of Teck Resources from a "buy" rating to a "neutral" rating in a research note on Monday. Stifel Nicolaus initiated coverage on shares of Teck Resources in a research note on Wednesday, July 9th. They set a "hold" rating for the company. Benchmark reiterated a "buy" rating and issued a $48.00 price target (down previously from $55.00) on shares of Teck Resources in a research note on Monday. Finally, Morgan Stanley lowered shares of Teck Resources from an "overweight" rating to an "equal weight" rating and increased their target price for the company from $42.00 to $44.00 in a research note on Tuesday, July 15th. Thirteen equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $60.11.

Teck Resources Trading Down 1.8%

Shares of TECK stock traded down $0.60 on Tuesday, reaching $33.13. 487,722 shares of the stock were exchanged, compared to its average volume of 3,721,153. The stock has a 50 day moving average price of $38.13 and a 200 day moving average price of $38.48. The stock has a market cap of $16.00 billion, a PE ratio of 87.24, a P/E/G ratio of 0.52 and a beta of 0.80. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.36 and a quick ratio of 2.57. Teck Resources has a one year low of $28.32 and a one year high of $54.13.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its quarterly earnings results on Thursday, July 24th. The basic materials company reported $0.27 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.07. The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $2.25 billion. Teck Resources had a return on equity of 3.87% and a net margin of 2.51%. The business's revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.79 EPS. Equities research analysts forecast that Teck Resources will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be issued a $0.0918 dividend. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. This represents a $0.37 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Monday, September 15th. Teck Resources's payout ratio is presently 94.74%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Smartleaf Asset Management LLC increased its stake in shares of Teck Resources by 69.2% during the first quarter. Smartleaf Asset Management LLC now owns 856 shares of the basic materials company's stock worth $32,000 after purchasing an additional 350 shares in the last quarter. Costello Asset Management INC purchased a new stake in shares of Teck Resources in the first quarter worth approximately $33,000. Banque Cantonale Vaudoise acquired a new stake in shares of Teck Resources in the 1st quarter valued at $36,000. Golden State Wealth Management LLC grew its stake in shares of Teck Resources by 7,560.0% during the 1st quarter. Golden State Wealth Management LLC now owns 1,149 shares of the basic materials company's stock worth $42,000 after acquiring an additional 1,134 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Teck Resources in the second quarter worth $49,000. Institutional investors own 78.06% of the company's stock.

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.