Investors Buy High Volume of Call Options on Teck Resources (NYSE:TECK)

Teck Resources Limited (NYSE:TECK) (TSE:TECK) saw unusually large options trading activity on Monday. Stock traders acquired 17,552 call options on the stock. This is an increase of approximately 232% compared to the average volume of 5,283 call options.

Analyst Ratings Changes

TECK has been the topic of several research analyst reports. Morgan Stanley boosted their target price on shares of Teck Resources from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, June 21st. Benchmark boosted their target price on shares of Teck Resources from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Teck Resources from $44.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $58.57.

Hedge Funds Weigh In On Teck Resources

Several large investors have recently made changes to their positions in TECK. Hexagon Capital Partners LLC grew its holdings in shares of Teck Resources by 143.0% during the first quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock worth $30,000 after buying an additional 386 shares in the last quarter. Creekmur Asset Management LLC purchased a new stake in shares of Teck Resources during the fourth quarter worth $35,000. Optiver Holding B.V. grew its holdings in shares of Teck Resources by 81.9% during the fourth quarter. Optiver Holding B.V. now owns 973 shares of the basic materials company’s stock worth $41,000 after buying an additional 438 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Teck Resources by 69.4% during the fourth quarter. First Horizon Advisors Inc. now owns 1,162 shares of the basic materials company’s stock worth $49,000 after buying an additional 476 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Teck Resources by 187.3% during the fourth quarter. Blue Trust Inc. now owns 1,494 shares of the basic materials company’s stock worth $64,000 after buying an additional 974 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Stock Performance

Shares of NYSE TECK opened at $48.54 on Wednesday. The company has a current ratio of 1.49, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20. The company has a 50 day simple moving average of $49.82 and a two-hundred day simple moving average of $44.59. Teck Resources has a 12 month low of $34.38 and a 12 month high of $55.13. The stock has a market cap of $24.79 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 10.35 and a beta of 1.05.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its earnings results on Thursday, April 25th. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.31). Teck Resources had a net margin of 10.59% and a return on equity of 7.52%. The firm had revenue of $2.96 billion during the quarter, compared to analyst estimates of $2.99 billion. As a group, analysts predict that Teck Resources will post 2.24 earnings per share for the current year.

Teck Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were paid a $0.0911 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.75%. The ex-dividend date was Monday, June 17th. Teck Resources’s dividend payout ratio is currently 15.93%.

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.