Teck Resources Limited (NYSE:TECK) to Issue $0.09 Quarterly Dividend

Teck Resources Limited (NYSE:TECK) (TSE:TECK) declared a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Shareholders of record on Friday, March 14th will be given a dividend of 0.0879 per share by the basic materials company on Monday, March 31st. This represents a $0.35 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Friday, March 14th.

Teck Resources has increased its dividend by an average of 35.7% annually over the last three years. Teck Resources has a dividend payout ratio of 18.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Teck Resources to earn $1.53 per share next year, which means the company should continue to be able to cover its $0.35 annual dividend with an expected future payout ratio of 22.9%.

Teck Resources Trading Up 1.5 %

Shares of TECK traded up $0.64 during mid-day trading on Thursday, hitting $43.34. 3,849,881 shares of the company’s stock traded hands, compared to its average volume of 2,879,717. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $21.61 billion, a P/E ratio of 65.66 and a beta of 1.02. The business’s 50-day moving average price is $42.05 and its 200-day moving average price is $45.75. Teck Resources has a 1 year low of $37.30 and a 1 year high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share 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%. As a group, sell-side analysts forecast that Teck Resources will post 1.64 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on TECK shares. 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 research note on Thursday, January 16th. UBS Group lowered Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. National Bank Financial cut Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. StockNews.com raised Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft downgraded Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $65.38.

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.