Teck Resources Limited (TECK) To Go Ex-Dividend on June 17th

Teck Resources Limited (NYSE:TECK) (TSE:TECK) announced a quarterly dividend on Monday, April 29th, Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 0.74%. The ex-dividend date is Monday, June 17th.

Teck Resources has raised its dividend payment by an average of 35.7% per year over the last three years. Teck Resources has a payout ratio of 17.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Teck Resources to earn $2.44 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 14.8%.

Teck Resources Trading Down 3.7 %

NYSE TECK opened at $49.19 on Wednesday. The firm has a market capitalization of $25.11 billion, a PE ratio of 21.77, a price-to-earnings-growth ratio of 8.94 and a beta of 1.15. Teck Resources has a one year low of $34.38 and a one year high of $51.65. The company has a 50-day simple moving average of $44.42 and a 200-day simple moving average of $40.55. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 1.49.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.01. The business had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.11 billion. Teck Resources had a return on equity of 7.52% and a net margin of 10.59%. On average, equities analysts forecast that Teck Resources will post 2.76 earnings per share for the current year.

Wall Street Analyst Weigh In

TECK has been the subject of several recent analyst reports. Morgan Stanley reissued an “overweight” rating and issued a $55.00 price target on shares of Teck Resources in a research note on Thursday, April 11th. Benchmark boosted their price target on shares of Teck Resources from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. UBS Group started coverage on shares of Teck Resources in a research note on Tuesday, January 16th. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. raised their price objective on shares of Teck Resources from $44.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Teck Resources presently has an average 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.