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

Teck Resources Limited (NYSE:TECK) (TSE:TECK) was the recipient of unusually large options trading activity on Thursday. Traders bought 14,855 put options on the stock. This represents an increase of approximately 101% compared to the typical volume of 7,382 put options.

Teck Resources Price Performance

Shares of TECK stock traded up $0.81 during trading hours on Thursday, reaching $43.51. The company had a trading volume of 1,613,866 shares, compared to its average volume of 2,811,752. Teck Resources has a 12-month low of $37.30 and a 12-month high of $55.13. The company has a market capitalization of $21.70 billion, a price-to-earnings ratio of 66.02 and a beta of 1.02. The stock has a fifty day moving average of $42.05 and a 200-day moving average of $45.75. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results 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. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. On average, equities analysts anticipate that Teck Resources will post 1.64 earnings per share for the current year.

Institutional Investors Weigh In On Teck Resources

A number of institutional investors have recently made changes to their positions in TECK. Synergy Asset Management LLC lifted its position in shares of Teck Resources by 77.7% during the fourth quarter. Synergy Asset Management LLC now owns 16,892 shares of the basic materials company’s stock worth $685,000 after purchasing an additional 7,387 shares in the last quarter. Forest Avenue Capital Management LP increased its holdings in shares of Teck Resources by 3.7% in the 3rd quarter. Forest Avenue Capital Management LP now owns 720,920 shares of the basic materials company’s stock valued at $37,661,000 after acquiring an additional 25,430 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Teck Resources during the third quarter worth approximately $1,937,000. Intech Investment Management LLC lifted its position in Teck Resources by 20.9% in the third quarter. Intech Investment Management LLC now owns 98,145 shares of the basic materials company’s stock valued at $5,132,000 after acquiring an additional 16,981 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its position in shares of Teck Resources by 2.6% in the 3rd quarter. CIBC Asset Management Inc now owns 6,495,880 shares of the basic materials company’s stock valued at $341,337,000 after purchasing an additional 165,759 shares during the period. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TECK. StockNews.com raised Teck Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Raymond James cut their price target on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. decreased their price target on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. National Bank Financial downgraded Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. Finally, Deutsche Bank Aktiengesellschaft cut 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. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $65.38.

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.