Teck Resources Limited (NYSE:TECK) Raises Dividend to $0.63 Per Share

Teck Resources Limited (NYSE:TECK) (TSE:TECK) announced a quarterly dividend on Thursday, July 11th, RTT News reports. Stockholders of record on Friday, September 13th will be paid a dividend of 0.625 per share by the basic materials company on Friday, September 27th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.05%. This is a positive change from Teck Resources’s previous quarterly dividend of $0.09.

Teck Resources has increased its dividend payment by an average of 35.7% annually over the last three years. Teck Resources has a payout ratio of 15.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Teck Resources to earn $2.26 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 15.9%.

Teck Resources Stock Performance

Teck Resources stock traded down $0.15 on Thursday, reaching $49.52. 4,097,811 shares of the stock were exchanged, compared to its average volume of 3,592,354. 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 twelve month low of $34.38 and a twelve month high of $55.13. The firm has a fifty day moving average price of $49.89 and a two-hundred day moving average price of $44.89. The stock has a market cap of $25.30 billion, a PE ratio of 21.98, a PEG ratio of 10.87 and a beta of 1.05.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.31). Teck Resources had a return on equity of 7.52% and a net margin of 10.59%. The company had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.99 billion. Sell-side analysts anticipate that Teck Resources will post 2.17 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Benchmark raised their target price on Teck Resources from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Morgan Stanley upped their target price on shares of Teck Resources from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, June 21st. Finally, JPMorgan Chase & Co. lifted 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 investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $58.80.

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.