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

Teck Resources Limited (NYSE:TECK) (TSE:TECK) was the target of unusually large options trading activity on Monday. Investors purchased 17,552 call options on the company. This is an increase of approximately 232% compared to the typical daily volume of 5,283 call options.

Teck Resources Trading Up 0.5 %

Shares of NYSE:TECK opened at $48.15 on Tuesday. The stock’s fifty day moving average price is $49.76 and its 200-day moving average price is $44.54. Teck Resources has a 1 year low of $34.38 and a 1 year high of $55.13. The company has a market cap of $24.60 billion, a P/E ratio of 21.31, a PEG ratio of 10.35 and a beta of 1.05. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.49 and a quick ratio of 0.86.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its earnings results on Thursday, April 25th. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.31). The company had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $2.99 billion. Teck Resources had a return on equity of 7.52% and a net margin of 10.59%. Sell-side analysts expect that Teck Resources will post 2.24 earnings per share for the current year.

Teck Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were issued a dividend of $0.0911 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.36 dividend on an annualized basis and a yield of 0.76%. Teck Resources’s dividend payout ratio is currently 15.93%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TECK. Morgan Stanley raised their price target on Teck Resources from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, June 21st. 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, April 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Teck Resources from $44.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.57.

Hedge Funds Weigh In On Teck Resources

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Teck Resources by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 16,721,130 shares of the basic materials company’s stock worth $765,493,000 after buying an additional 290,034 shares in the last quarter. FIL Ltd raised its stake in Teck Resources by 98.8% during the fourth quarter. FIL Ltd now owns 11,937,233 shares of the basic materials company’s stock valued at $504,588,000 after purchasing an additional 5,933,226 shares in the last quarter. Boston Partners grew its stake in shares of Teck Resources by 28.8% in the 4th 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 in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Teck Resources by 2.4% in the 1st quarter. Janus Henderson Group PLC now owns 8,604,605 shares of the basic materials company’s stock worth $394,178,000 after buying an additional 203,607 shares during the last quarter. Finally, Mackenzie Financial Corp raised its position in shares of Teck Resources by 45.7% during the 4th quarter. Mackenzie Financial Corp now owns 6,632,418 shares of the basic materials company’s stock valued at $280,491,000 after buying an additional 2,080,295 shares in the last quarter. 78.06% of the stock is owned by institutional investors.

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.