Teck Resources Target of Unusually Large Options Trading (TECK)

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Teck Resources Ltd (NYSE:TECK) (TSE:TECK) was the recipient of unusually large options trading on Wednesday. Traders acquired 16,496 call options on the stock. This represents an increase of approximately 1,814% compared to the typical volume of 862 call options.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TECK. Capital World Investors bought a new position in shares of Teck Resources in the third quarter worth about $513,470,000. Impala Asset Management LLC boosted its stake in shares of Teck Resources by 16.3% in the third quarter. Impala Asset Management LLC now owns 15,107,521 shares of the basic materials company’s stock worth $364,092,000 after acquiring an additional 2,119,601 shares during the period. BlackRock Inc. boosted its stake in shares of Teck Resources by 46.0% in the fourth quarter. BlackRock Inc. now owns 6,240,453 shares of the basic materials company’s stock worth $134,420,000 after acquiring an additional 1,967,067 shares during the period. CIBC Asset Management Inc boosted its stake in shares of Teck Resources by 26.7% in the fourth quarter. CIBC Asset Management Inc now owns 8,553,875 shares of the basic materials company’s stock worth $184,199,000 after acquiring an additional 1,801,837 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in shares of Teck Resources in the third quarter worth about $23,775,000. 53.22% of the stock is owned by hedge funds and other institutional investors.

Shares of TECK opened at $22.65 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.11 and a quick ratio of 1.29. The stock has a market capitalization of $13.02 billion, a price-to-earnings ratio of 7.21, a P/E/G ratio of 0.70 and a beta of 1.24. Teck Resources has a 52 week low of $18.17 and a 52 week high of $30.11.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Wednesday, February 13th. The basic materials company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.28 billion. Teck Resources had a return on equity of 10.81% and a net margin of 24.75%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.21 earnings per share. As a group, research analysts anticipate that Teck Resources will post 3.02 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be paid a $0.038 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date is Thursday, March 14th. Teck Resources’s dividend payout ratio (DPR) is 4.78%.

TECK has been the subject of a number of research reports. ValuEngine cut Teck Resources from a “sell” rating to a “strong sell” rating in a research report on Friday, October 26th. MKM Partners initiated coverage on Teck Resources in a research report on Friday, January 18th. They set a “buy” rating and a $28.00 price objective for the company. Bank of America upgraded Teck Resources to a “buy” rating in a research report on Thursday, December 20th. Goldman Sachs Group upgraded Teck Resources from a “neutral” rating to a “buy” rating and set a $29.00 price target for the company in a research report on Monday, January 14th. Finally, Clarkson Capital cut Teck Resources from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 16th. 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. Teck Resources currently has a consensus rating of “Buy” and an average price target of $29.33.

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About Teck Resources

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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