Teck Resources (TSE:TECK.A) Trading 11.3% Higher - Time to Buy?

Key Points

• Teck Resources' share price surged by 11.3% during mid-day trading, reaching C$54.66, up from a previous close of C$49.13, with a significant increase in trading volume.
• The company announced a $0.125 quarterly dividend that will be paid to shareholders of record on September 29th, representing an annual yield of 0.9%.
• With a market cap of C$27.23 billion, Teck is a key player in the mining sector, notably as the world's second-largest exporter of seaborne metallurgical coal.

Teck Resources Limited (TSE:TECK.A - Get Free Report) shares shot up 11.3% on Tuesday . The company traded as high as C$57.49 and last traded at C$54.66. 7,750 shares changed hands during trading, an increase of 286% from the average session volume of 2,006 shares. The stock had previously closed at C$49.13.

Teck Resources Price Performance

The company has a debt-to-equity ratio of 37.46, a current ratio of 1.48 and a quick ratio of 0.97. The stock's 50 day simple moving average is C$48.75 and its two-hundred day simple moving average is C$51.14. The stock has a market cap of C$28.53 billion, a price-to-earnings ratio of 100.62 and a beta of 1.58.

Teck Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 29th will be paid a dividend of $0.125 per share. The ex-dividend date is Monday, September 15th. This represents a $0.50 dividend on an annualized basis and a yield of 0.9%. Teck Resources's payout ratio is currently 86.21%.

Teck Resources Company Profile

Teck is a diversified miner with coal, copper, zinc, and oil sands operations in Canada, the United States, Chile, and Peru. Metallurgical coal is Teck's primary commodity in terms of EBITDA contribution, closely followed by copper, with zinc and oil sands contributing smaller amounts to earnings. Teck ranks as the world's second- largest exporter of seaborne metallurgical coal and is a top-three zinc miner.