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

Teck Resources Limited (NYSE:TECK) (TSE:TECK) announced a quarterly dividend on Monday, April 29th, Wall Street Journal reports. Stockholders of record on Monday, June 17th will be given a dividend of 0.0911 per share by the basic materials company on Friday, June 28th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend is Monday, June 17th.

Teck Resources has raised its dividend payment by an average of 34.8% per year over the last three years and has increased its dividend every year for the last 1 years. Teck Resources has a dividend payout ratio of 16.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Teck Resources to earn $2.49 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 14.9%.

Teck Resources Stock Performance

TECK stock traded up $0.69 on Monday, hitting $51.07. The company had a trading volume of 4,064,089 shares, compared to its average volume of 4,093,308. The company has a current ratio of 1.49, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20. Teck Resources has a 12-month low of $34.38 and a 12-month high of $51.65. The stock has a market cap of $26.07 billion, a price-to-earnings ratio of 22.29, a P/E/G ratio of 8.48 and a beta of 1.15. The stock’s 50-day simple moving average is $43.94 and its 200 day simple moving average is $40.39.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.01. Teck Resources had a return on equity of 7.52% and a net margin of 10.59%. The business had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.11 billion. As a group, equities research analysts expect that Teck Resources will post 2.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on TECK. Morgan Stanley reissued an “overweight” rating and set a $55.00 price objective on shares of Teck Resources in a report on Thursday, April 11th. Benchmark increased their price target on shares of Teck Resources from $50.00 to $52.00 and gave the company a “buy” rating in a report on Monday, April 8th. UBS Group initiated coverage on shares of Teck Resources in a report on Tuesday, January 16th. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. increased their price target on shares of Teck Resources from $44.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $57.86.

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.