Teck Doubles Dividend and Announces Dividend Policy

Cornelia Mascio
Aprile 28, 2017

The company's 50-day moving average price is $29.12 and its 200 day moving average price is $29.66. They issued an outperform rating for the company. Analysts have a mean recommendation of 1.70 on this stock (A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range). They now have a C$39.00 target price on the stock.

TECK stock's price is now -19.75% down from its 52-week high and +136.41% up from its 52-week low. The total market capitalization remained at $14.61 billion. Share performance for the month is now at -3.00%.

Teck Resources Limited declared that Teck's Board of Directors has established a new dividend policy, and in accordance with that policy Teck will pay on June 30, 2017 an initial eligible dividend of $0.10 per share on its outstanding Class A common shares and Class B subordinate voting shares, to shareholders of record at the close of business on June 15, 2017. The overall volume in the last trading session was 4.97 million shares, versus the average volume of 5.53 million shares. Canaccord Genuity lowered their price objective on Teck Resources from C$43.00 to C$39.50 and set a buy rating on the stock in a research report on Thursday, February 16th. By reviewing stock prices from the stock market history of the company and examining its analysts ratings can give an investment picture with updated information of stock which helps investors to make investing decision. (NASDAQ:AEZS), 3 have Buy rating, 0 Sell and 0 Hold.

After reporting weaker-than-expected profits on Tuesday that sent its stock down as much as 6 percent, Teck Chief Executive Don Lindsay said on a conference call that a flexible dividend policy made sense for companies in the commodity industry, due to price volatility.

Guardian Capital Advisors Lp decreased Teck Resources Ltd (TCK) stake by 34.69% reported in 2016Q4 SEC filing. The stock of Teck Resources Ltd (TSE:TECK.B) has "Outperform" rating given on Friday, February 3 by RBC Capital Markets. The Company's activities are organized into business units that are focused on steelmaking coal, copper, zinc and energy. The stock of Teck Resources Ltd (USA) (NYSE:TECK) has "Underperform" rating given on Tuesday, April 19 by CLSA. It operates in five segments: steelmaking coal, copper, zinc, energy and corporate.

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