Teck Resources Ltd (TECK) to Distribute Quarterly Dividend of C$0.12 on December 31st

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) announced a quarterly dividend on Thursday, October 29th. Investors of record on Tuesday, December 15th will be given a dividend of C$0.12 per share by the basic materials company on Thursday, December 31st. This represents a $0.50 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, December 15th.

Teck Resources has raised its dividend payment by an average of 0.2% per year over the last three years. Teck Resources has a payout ratio of 19.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Teck Resources to earn $3.53 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 10.2%.

Teck Resources Price Performance

Shares of NYSE TECK opened at $60.60 on Friday. The firm has a market cap of $29.28 billion, a PE ratio of 10.84, a PEG ratio of 2.03 and a beta of 1.01. The firm has a fifty day moving average of $66.16 and a 200 day moving average of $60.44. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.33 and a current ratio of 3.12. Teck Resources has a one year low of $38.00 and a one year high of $72.56.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Scotia lifted their target price on shares of Teck Resources from $83.00 to $88.00 and gave the company a “sector perform” rating in a research report on Friday. Stifel Nicolaus boosted their target price on shares of Teck Resources from $82.00 to $95.00 and gave the stock a “hold” rating in a research note on Tuesday, October 20th. Weiss Ratings downgraded shares of Teck Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, October 23rd. Raymond James Financial upgraded shares of Teck Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday, July 23rd. Finally, Wall Street Zen lowered shares of Teck Resources from a “buy” rating to a “hold” rating in a research note on Saturday. Six analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $76.43.

About Teck Resources

Teck Resources Limited is a Canadian mining and mineral development company focused primarily on copper and zinc, commodities used in electrification, infrastructure, manufacturing and other industrial applications. The company explores for, develops and operates mines, mineral processing facilities and related infrastructure.

Teck’s copper assets include Highland Valley Copper in British Columbia, Canada; Carmen de Andacollo in Chile; and Quebrada Blanca in northern Chile. Its zinc operations include the Red Dog mine in Alaska and the Trail Operations metallurgical complex in British Columbia, which produces refined metals, alloys and other related products.