Teck Resources Limited (TECK) To Go Ex-Dividend on March 14th

Teck Resources Limited (NYSE:TECK) (TSE:TECK) declared a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.0879 per share by the basic materials company on Monday, March 31st. This represents a $0.35 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Friday, March 14th.

Teck Resources has raised its dividend by an average of 35.7% annually over the last three years. Teck Resources has a dividend payout ratio of 18.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Teck Resources to earn $1.82 per share next year, which means the company should continue to be able to cover its $0.35 annual dividend with an expected future payout ratio of 19.2%.

Teck Resources Trading Down 5.2 %

NYSE TECK opened at $41.12 on Friday. The stock’s fifty day moving average price is $41.95 and its 200-day moving average price is $45.72. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The stock has a market cap of $20.51 billion, a P/E ratio of 74.76 and a beta of 1.02. Teck Resources has a 12 month low of $37.30 and a 12 month high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.26 by $0.07. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2.58 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. As a group, equities analysts forecast that Teck Resources will post 1.53 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on TECK shares. Deutsche Bank Aktiengesellschaft downgraded shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a research report on Friday, October 25th. JPMorgan Chase & Co. reduced their target price on Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Raymond James lowered their price target on Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, January 22nd. National Bank Financial downgraded Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. Finally, UBS Group lowered Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Teck Resources has an average rating of “Moderate Buy” and an average price target of $65.38.

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.