Teck Resources Ltd. (TCK) Trading Down 1.6%
Teck Resources Ltd. (NYSE:TCK)’s share price dropped 1.6% during mid-day trading on Monday . The company traded as low as $13.94 and last traded at $14.14, with a volume of 2,523,973 shares changing hands. The stock had previously closed at $14.37.
TCK has been the topic of a number of recent analyst reports. TD Securities raised Teck Resources from a “hold” rating to a “buy” rating in a research report on Friday, April 1st. Zacks Investment Research raised Teck Resources from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Thursday, April 28th. Paradigm Capital reaffirmed a “buy” rating and issued a $17.00 target price (up from $7.75) on shares of Teck Resources in a research report on Thursday, May 5th. Goldman Sachs Group Inc. initiated coverage on Teck Resources in a research report on Thursday, May 19th. They issued a “buy” rating and a $12.00 target price on the stock. Finally, Clarkson Capital raised Teck Resources from a “neutral” rating to a “buy” rating in a research report on Monday. Seven analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $10.65.
The firm’s 50 day moving average is $12.35 and its 200 day moving average is $8.42. The stock’s market capitalization is $8.29 billion.
The firm also recently declared a semiannual dividend, which was paid on Thursday, June 30th. Investors of record on Wednesday, June 15th were issued a dividend of $0.0393 per share. The ex-dividend date of this dividend was Monday, June 13th. This is a positive change from Teck Resources’s previous semiannual dividend of $0.04. This represents a yield of 0.7%.
A hedge fund recently raised its stake in Teck Resources stock. BNP Paribas Arbitrage SA boosted its position in Teck Resources Ltd. (NYSE:TCK) by 40.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 450,765 shares of the company’s stock after buying an additional 130,631 shares during the period. BNP Paribas Arbitrage SA owned about 0.08% of Teck Resources worth $1,740,000 as of its most recent SEC filing.
Teck Resources Limited is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company operates through five segments: steelmaking coal, copper, zinc, energy and corporate. Through its interests in mining and processing operations in Canada, the United States, Chile and Peru, the Company exports seaborne steelmaking coal and produces mined zinc.
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