Teck Resources Limited (TECK) to Issue Quarterly Dividend of $0.09 on December 31st

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 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Friday, December 13th.

Teck Resources has increased its dividend payment by an average of 35.7% per year over the last three years. Teck Resources has a payout ratio of 19.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Teck Resources to earn $1.72 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 20.3%.

Teck Resources Trading Down 2.8 %

Shares of NYSE TECK opened at $45.49 on Wednesday. The stock has a market cap of $23.30 billion, a P/E ratio of 68.92 and a beta of 1.03. 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 has a 52-week low of $36.50 and a 52-week high of $55.13. The firm has a 50 day moving average price of $47.97 and a two-hundred day moving average price of $48.06.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.24. The company had revenue of $2.86 billion for 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 firm’s revenue was down 20.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.57 EPS. As a group, equities analysts forecast that Teck Resources will post 1.82 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TECK. Citigroup upgraded shares of Teck Resources to a “hold” rating in a report on Wednesday, October 2nd. Scotiabank raised their target price on Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a report on Tuesday, October 8th. National Bank Financial downgraded Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday. StockNews.com upgraded Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Teck Resources from $57.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Six analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $65.29.

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.