Teck Resources Ltd (NYSE:TECK) (TSE:TECK) announced 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 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend is Thursday, December 13th.
Teck Resources has a payout ratio of 5.7% indicating that its dividend is sufficiently covered by earnings. 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, reaching $21.45. The stock had a trading volume of 3,352,903 shares, compared to its average volume of 2,852,963. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.30 and a quick ratio of 1.39. The firm has a market capitalization of $12.13 billion, a PE ratio of 6.25, a P/E/G ratio of 0.60 and a beta of 1.60. Teck Resources has a 1-year low of $18.17 and a 1-year high of $30.80.
Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Wednesday, October 24th. The basic materials company reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.11). The firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.40 billion. Teck Resources had a return on equity of 12.31% and a net margin of 27.35%. As a group, analysts expect that Teck Resources will post 3.41 earnings per share for the current year.
A number of analysts have recently issued reports on the company. MKM Partners reaffirmed a “buy” rating on shares of Teck Resources in a research note on Friday, October 19th. TD Securities reaffirmed a “buy” rating on shares of Teck Resources in a research note on Sunday, October 28th. ValuEngine raised Teck Resources from a “sell” rating to a “hold” rating in a research note on Tuesday, September 18th. Seaport Global Securities raised Teck Resources from a “neutral” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Monday, October 15th. Finally, Goldman Sachs Group reaffirmed a “hold” rating on shares of Teck Resources in a research note on Sunday, October 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $31.43.
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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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