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

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 given 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 payout ratio of 20.9% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

TECK opened at $44.99 on Friday. 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 company’s 50-day moving average price is $48.73 and its 200 day moving average price is $48.66. Teck Resources has a fifty-two week low of $34.56 and a fifty-two week high of $55.13. The firm has a market cap of $22.68 billion, a price-to-earnings ratio of 68.17 and a beta of 1.04.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.24. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The business had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same period in the prior year, the firm earned $0.57 EPS. The business’s quarterly revenue was down 20.6% on a year-over-year basis. As a group, sell-side analysts expect that Teck Resources will post 1.84 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of Teck Resources from $57.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, October 25th. StockNews.com raised shares of Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Citigroup upgraded shares of Teck Resources to a “hold” rating in a research report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft cut Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a report on Friday, October 25th. Finally, UBS Group lowered Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Teck Resources 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.