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

Teck Resources Limited (NYSE:TECK) (TSE:TECK) was the recipient of some unusual options trading on Tuesday. Investors purchased 13,602 call options on the stock. This represents an increase of 118% compared to the typical volume of 6,250 call options.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Stonebridge Financial Group LLC bought a new stake in shares of Teck Resources during the fourth quarter valued at approximately $25,000. Global Trust Asset Management LLC acquired a new position in Teck Resources during the fourth quarter valued at approximately $27,000. FPC Investment Advisory Inc. acquired a new stake in Teck Resources in the fourth quarter worth $27,000. Eastern Bank bought a new position in shares of Teck Resources during the third quarter worth $39,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Teck Resources in the 3rd quarter valued at $40,000. 78.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TECK has been the topic of several analyst reports. Raymond James dropped their price objective on Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft lowered shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 target price for the company. in a research note on Friday, October 25th. StockNews.com upgraded Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. National Bank Financial lowered Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. Finally, UBS Group lowered shares of Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. Six analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Teck Resources has a consensus rating of “Moderate Buy” and an average target price of $65.38.

Teck Resources Stock Performance

TECK traded down $0.83 on Tuesday, hitting $42.34. 1,085,754 shares of the stock traded hands, compared to its average volume of 2,802,711. The business has a fifty day moving average price of $42.43 and a two-hundred day moving average price of $45.95. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. Teck Resources has a 52 week low of $36.50 and a 52 week high of $55.13. The firm has a market capitalization of $21.12 billion, a PE ratio of 64.16 and a beta of 1.02.

Teck Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were paid a dividend of $0.0895 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.85%. Teck Resources’s dividend payout ratio is currently 53.03%.

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.