Teck Resources Limited (NYSE:TECK – Get Free Report) (TSE:TECK) declared a quarterly dividend on Thursday, July 11th, RTT News reports. Stockholders of record on Friday, September 13th will be paid a dividend of 0.625 per share by the basic materials company on Friday, September 27th. This represents a $2.50 annualized dividend and a dividend yield of 5.58%. The ex-dividend date of this dividend is Friday, September 13th. This is a positive change from Teck Resources’s previous quarterly dividend of $0.09.
Teck Resources has raised its dividend by an average of 35.7% annually over the last three years. Teck Resources has a payout ratio of 19.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Teck Resources to earn $2.15 per share next year, which means the company should continue to be able to cover its $0.37 annual dividend with an expected future payout ratio of 17.2%.
Teck Resources Stock Performance
NYSE TECK opened at $44.78 on Thursday. The stock has a market capitalization of $22.91 billion, a price-to-earnings ratio of 19.81 and a beta of 1.01. Teck Resources has a twelve month low of $34.38 and a twelve month high of $55.13. The company has a current ratio of 1.48, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19. The stock has a 50-day moving average of $47.28 and a 200 day moving average of $47.28.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on TECK shares. BMO Capital Markets started coverage on Teck Resources in a report on Monday, July 15th. They issued an “outperform” rating for the company. Morgan Stanley boosted their price objective on Teck Resources from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, June 21st. CIBC boosted their price objective on Teck Resources from $70.00 to $80.00 and gave the stock an “outperformer” rating in a research note on Friday, July 12th. Eight Capital lowered Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 11th. Finally, UBS Group upgraded Teck Resources from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $76.00 to $78.00 in a research note on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Teck Resources has an average rating of “Moderate Buy” and a consensus target price of $65.00.
View Our Latest Analysis on TECK
About Teck Resources
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.
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