Teck Resources Ltd (NYSE:TECK) (TSE:TECK) declared a quarterly dividend on Thursday, November 15th, Zacks reports. Stockholders of record on Friday, December 14th will be paid a dividend of 0.038 per share by the basic materials company on Monday, December 31st. This represents a $0.15 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Thursday, December 13th.
Teck Resources has a dividend payout ratio of 5.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Teck Resources to earn $2.95 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 6.8%.
Shares of NYSE:TECK traded up $0.06 during trading on Friday, hitting $21.45. The stock had a trading volume of 3,352,903 shares, compared to its average volume of 2,852,963. Teck Resources has a 12-month low of $18.17 and a 12-month high of $30.80. The stock has a market cap of $12.13 billion, a price-to-earnings ratio of 6.25, a PEG ratio of 0.60 and a beta of 1.60. The company has a quick ratio of 1.39, a current ratio of 2.30 and a debt-to-equity ratio of 0.23.
Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Wednesday, October 24th. The basic materials company reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.11). Teck Resources had a return on equity of 12.31% and a net margin of 27.35%. The firm had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.40 billion. As a group, equities analysts anticipate that Teck Resources will post 3.41 EPS for the current fiscal year.
Several brokerages have recently issued reports on TECK. Canaccord Genuity restated a “buy” rating on shares of Teck Resources in a research note on Tuesday, October 30th. ValuEngine cut Teck Resources from a “sell” rating to a “strong sell” rating in a research note on Friday, October 26th. MKM Partners restated a “buy” rating on shares of Teck Resources in a research note on Friday, October 19th. TD Securities upgraded Teck Resources to a “buy” rating in a research note on Thursday. Finally, CIBC reiterated a “buy” rating on shares of Teck Resources in a research report on Tuesday, October 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $31.43.
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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