Teck Resources Ltd (NYSE:TECK) Announces Quarterly Dividend of C$0.13

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) declared a quarterly dividend on Wednesday, February 18th. Shareholders of record on Friday, March 13th will be paid a dividend of 0.125 per share by the basic materials company on Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, March 13th.

Teck Resources has raised its dividend payment by an average of 0.4%per year over the last three years. Teck Resources has a payout ratio of 19.3% indicating that its dividend is sufficiently covered by earnings. Equities 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 3.5%

TECK traded down $2.10 during trading hours on Thursday, reaching $57.26. 655,806 shares of the company’s stock traded hands, compared to its average volume of 4,449,564. The firm has a 50-day moving average price of $51.44 and a 200 day moving average price of $43.74. Teck Resources has a 52-week low of $28.32 and a 52-week high of $60.75. The company has a quick ratio of 2.08, a current ratio of 2.78 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $27.56 billion, a PE ratio of 32.05, a PEG ratio of 0.54 and a beta of 0.80.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. TD Securities downgraded shares of Teck Resources from a “buy” rating to a “hold” rating in a research note on Thursday, January 22nd. Raymond James Financial downgraded Teck Resources from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 14th. UBS Group restated a “buy” rating on shares of Teck Resources in a report on Tuesday, January 27th. JPMorgan Chase & Co. increased their target price on shares of Teck Resources from $43.00 to $51.00 and gave the stock a “neutral” rating in a report on Friday, December 5th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Teck Resources in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $53.33.

Teck Resources Company Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.