2,063,912 Shares in Teck Resources Ltd $TECK Acquired by Carrhae Capital LLP

Key Points

• Carrhae Capital LLP disclosed a new fourth-quarter stake in Teck Resources, buying 2,063,912 shares worth about $98.8 million. The position makes Teck its 7th-largest holding and about 3.7% of its portfolio.
• Teck Resources reported stronger-than-expected quarterly earnings, with EPS of $0.98 versus the $0.59 consensus estimate, while revenue reached $2.23 billion and rose 9.8% year over year.
• The company also announced a quarterly dividend of $0.125 per share, payable June 30, and analysts currently rate the stock a consensus “Hold” with a target price of $59.17.

Carrhae Capital LLP purchased a new stake in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,063,912 shares of the basic materials company's stock, valued at approximately $98,841,000. Teck Resources makes up about 3.7% of Carrhae Capital LLP's investment portfolio, making the stock its 7th largest position. Carrhae Capital LLP owned 0.43% of Teck Resources as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Welch Group LLC grew its holdings in shares of Teck Resources by 3.5% during the fourth quarter. Welch Group LLC now owns 5,899 shares of the basic materials company's stock worth $283,000 after purchasing an additional 199 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Teck Resources by 72.4% in the third quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company's stock valued at $37,000 after buying an additional 351 shares during the last quarter. GSA Capital Partners LLP lifted its position in Teck Resources by 1.0% during the 3rd quarter. GSA Capital Partners LLP now owns 40,941 shares of the basic materials company's stock worth $1,797,000 after buying an additional 409 shares in the last quarter. NewEdge Advisors LLC lifted its position in Teck Resources by 5.5% during the 3rd quarter. NewEdge Advisors LLC now owns 8,635 shares of the basic materials company's stock worth $379,000 after buying an additional 452 shares in the last quarter. Finally, Tobam grew its holdings in Teck Resources by 30.9% during the 3rd quarter. Tobam now owns 2,011 shares of the basic materials company's stock worth $88,000 after acquiring an additional 475 shares during the last quarter. Institutional investors own 78.06% of the company's stock.

Teck Resources Trading Down 0.6%

Shares of NYSE TECK opened at $62.59 on Friday. Teck Resources Ltd has a fifty-two week low of $30.98 and a fifty-two week high of $67.67. The firm has a market capitalization of $30.17 billion, a P/E ratio of 22.93, a P/E/G ratio of 4.62 and a beta of 0.86. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.83 and a quick ratio of 2.16. The company's 50 day simple moving average is $56.30 and its 200 day simple moving average is $51.87.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its earnings results on Thursday, February 19th. The basic materials company reported $0.98 EPS for the quarter, topping analysts' consensus estimates of $0.59 by $0.39. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.28 billion. Teck Resources had a net margin of 14.91% and a return on equity of 7.94%. The business's quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.45 EPS. On average, analysts predict that Teck Resources Ltd will post 2.68 EPS for the current year.

Teck Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Monday, June 15th. Teck Resources's dividend payout ratio is currently 13.55%.

Analyst Upgrades and Downgrades

TECK has been the subject of several research reports. Citigroup upgraded shares of Teck Resources from a "neutral" rating to a "buy" rating in a research report on Monday, February 2nd. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Teck Resources in a report on Friday, May 15th. Benchmark boosted their price objective on shares of Teck Resources from $48.00 to $67.00 and gave the stock a "buy" rating in a research report on Monday, February 23rd. JPMorgan Chase & Co. upped their price objective on Teck Resources from $45.00 to $48.00 and gave the stock a "neutral" rating in a report on Friday, May 1st. Finally, Scotiabank reiterated a "sector perform" rating on shares of Teck Resources in a research report on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and thirteen have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $59.17.

Teck Resources Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company's operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.

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