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. Investors 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 0.79%. The ex-dividend date is Friday, December 13th.

Teck Resources has raised its dividend by an average of 35.7% per year over the last three years. Teck Resources has a dividend payout ratio of 19.9% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

NYSE TECK opened at $45.49 on Wednesday. The company has a 50-day simple moving average of $47.97 and a two-hundred day simple moving average of $48.06. Teck Resources has a 12-month low of $36.50 and a 12-month high of $55.13. The firm has a market cap of $23.30 billion, a price-to-earnings ratio of 68.92 and a beta of 1.03. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16.

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 (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.24. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. The firm had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter last year, the business earned $0.57 earnings per share. The business’s revenue was down 20.6% on a year-over-year basis. On average, equities analysts forecast that Teck Resources will post 1.82 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on TECK. Citigroup upgraded Teck Resources to a “hold” rating in a report on Wednesday, October 2nd. UBS Group cut Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. Deutsche Bank Aktiengesellschaft lowered shares of 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. National Bank Financial lowered Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday. Finally, StockNews.com raised shares of Teck Resources from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.