Teck Resources Ltd (TECK) To Go Ex-Dividend on September 15th

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) announced a quarterly dividend on Thursday, July 23rd. Shareholders of record on Tuesday, September 15th will be paid a dividend of 0.125 per share by the basic materials company on Tuesday, September 29th. This represents a c) annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, September 15th.

Teck Resources has raised its dividend by an average of 0.2%annually over the last three years. Teck Resources has a dividend payout ratio of 19.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Teck Resources to earn $3.14 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 11.5%.

Teck Resources Price Performance

Shares of NYSE TECK opened at $66.36 on Friday. Teck Resources has a twelve month low of $38.00 and a twelve month high of $72.56. The company has a current ratio of 3.12, a quick ratio of 2.33 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $32.05 billion, a price-to-earnings ratio of 17.98, a PEG ratio of 2.06 and a beta of 0.94. The firm has a 50-day moving average of $63.74 and a two-hundred day moving average of $60.32.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.40. Teck Resources had a net margin of 17.85% and a return on equity of 10.42%. The company had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.38 billion. During the same quarter last year, the firm posted $0.38 EPS. The business’s revenue for the quarter was up 78.2% on a year-over-year basis. As a group, analysts expect that Teck Resources will post 4.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Teck Resources from $64.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Raymond James Financial upgraded Teck Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday, July 23rd. Veritas cut Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 4th. Weiss Ratings raised Teck Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 4th. Finally, JPMorgan Chase & Co. upped their target price on Teck Resources from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, July 28th. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, Teck Resources presently has a consensus rating of “Hold” and a consensus price target of $62.25.

Teck Resources Company Profile

Teck Resources Limited is a Canadian mining and metals company focused primarily on the exploration, development and production of base metals. Its principal products include copper, zinc and lead, along with associated by-products such as molybdenum, silver and germanium. Copper is an increasingly important part of Teck’s business as the metal is used in electrical infrastructure, renewable energy systems, transportation and industrial applications.

Teck operates and develops mining assets in Canada, Chile and Peru.