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

Teck Resources Limited (NYSE:TECK) (TSE:TECK) declared a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Stockholders 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 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, March 14th.

Teck Resources has raised its dividend by an average of 35.7% annually over the last three years. Teck Resources has a dividend payout ratio of 18.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Teck Resources to earn $1.82 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 19.2%.

Teck Resources Trading Down 5.2 %

Teck Resources stock opened at $41.12 on Friday. Teck Resources has a 12-month low of $37.30 and a 12-month high of $55.13. The firm has a market capitalization of $20.51 billion, a price-to-earnings ratio of 74.76 and a beta of 1.02. The firm has a 50 day moving average of $41.95 and a 200 day moving average of $45.72. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2.58 billion. As a group, research analysts predict that Teck Resources will post 1.53 earnings per share for the current year.

Wall Street Analyst Weigh In

TECK has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. decreased their price target on Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft downgraded Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a research note on Friday, October 25th. UBS Group cut shares of Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. National Bank Financial lowered shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. Finally, Raymond James reduced their price target on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, January 22nd. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.