Teck Resources Limited Declares Quarterly Dividend of $0.09 (NYSE:TECK)

Teck Resources Limited (NYSE:TECK) (TSE:TECK) declared a quarterly dividend on Friday, November 15th,Wall Street Journal reports. Stockholders of record on Friday, December 13th will be paid a dividend of 0.0895 per share by the basic materials company on Tuesday, December 31st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date is Friday, December 13th.

Teck Resources has increased its dividend by an average of 35.7% per year over the last three years. Teck Resources has a dividend payout ratio of 20.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Teck Resources to earn $1.91 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 19.4%.

Teck Resources Stock Down 0.9 %

Shares of Teck Resources stock opened at $44.99 on Friday. Teck Resources has a twelve month low of $34.56 and a twelve month high of $55.13. The stock has a market cap of $22.68 billion, a price-to-earnings ratio of 68.17 and a beta of 1.04. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The company has a fifty day moving average price of $48.73 and a 200 day moving average price of $48.66.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.24. The company had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.09 billion. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The company’s revenue was down 20.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.57 earnings per share. Equities research analysts forecast that Teck Resources will post 1.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TECK. StockNews.com upgraded shares of Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. UBS Group downgraded shares of Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Scotiabank upped their price objective on shares of Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research report on Tuesday, October 8th. Paradigm Capital upgraded Teck Resources to a “moderate buy” rating in a research note on Friday, July 26th. Finally, Benchmark reiterated a “buy” rating and issued a $55.00 price target on shares of Teck Resources in a research note on Thursday, July 25th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $65.29.

Teck Resources Company Profile

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.