Kapitalo Investimentos Ltda Acquires New Holdings in Teck Resources Ltd (NYSE:TECK)

Key Points

• Kapitalo Investimentos Ltda acquired 611,699 shares of Teck Resources Ltd valued at approximately $22.28 million, making it the 7th largest position in their portfolio.
• Teck Resources reported a strong quarterly earnings result of $0.27 EPS, beating estimates of $0.20, with revenues of $1.49 billion during the quarter.
• The company recently announced an increase in its quarterly dividend to $0.0918, reflecting a 1.11% yield on an annualized basis.

Kapitalo Investimentos Ltda purchased a new position in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 611,699 shares of the basic materials company's stock, valued at approximately $22,284,000. Teck Resources comprises about 4.5% of Kapitalo Investimentos Ltda's portfolio, making the stock its 7th largest position. Kapitalo Investimentos Ltda owned 0.12% of Teck Resources as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Golden State Wealth Management LLC grew its position in Teck Resources by 7,560.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,149 shares of the basic materials company's stock valued at $42,000 after buying an additional 1,134 shares in the last quarter. Ameriflex Group Inc. bought a new position in Teck Resources in the 4th quarter valued at about $50,000. Pilgrim Partners Asia Pte Ltd bought a new position in Teck Resources in the 4th quarter valued at about $55,000. Bruce G. Allen Investments LLC grew its position in Teck Resources by 104.8% in the 1st quarter. Bruce G. Allen Investments LLC now owns 1,636 shares of the basic materials company's stock valued at $60,000 after buying an additional 837 shares in the last quarter. Finally, Altshuler Shaham Ltd bought a new position in Teck Resources in the 4th quarter valued at about $70,000. Institutional investors own 78.06% of the company's stock.

Teck Resources Stock Down 1.2%

Shares of NYSE TECK traded down $0.40 during mid-day trading on Wednesday, reaching $32.63. The company had a trading volume of 1,785,366 shares, compared to its average volume of 3,739,573. The stock has a fifty day moving average of $38.07 and a two-hundred day moving average of $38.44. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.57 and a current ratio of 3.47. The company has a market capitalization of $15.76 billion, a price-to-earnings ratio of 85.92, a PEG ratio of 0.54 and a beta of 0.80. Teck Resources Ltd has a 12-month low of $28.32 and a 12-month high of $54.13.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its quarterly earnings results on Thursday, July 24th. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.07. The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $2.25 billion. Teck Resources had a net margin of 2.51% and a return on equity of 3.91%. The firm's revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.79 earnings per share. As a group, equities research analysts expect that Teck Resources Ltd will post 1.53 EPS for the current year.

Teck Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be given a $0.0918 dividend. This represents a $0.37 dividend on an annualized basis and a dividend yield of 1.13%. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. The ex-dividend date is Monday, September 15th. Teck Resources's dividend payout ratio is 94.74%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TECK shares. Wall Street Zen upgraded shares of Teck Resources from a "sell" rating to a "hold" rating in a research report on Saturday. Desjardins lowered shares of Teck Resources from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. JPMorgan Chase & Co. restated a "neutral" rating and set a $41.00 price objective (down previously from $46.00) on shares of Teck Resources in a research report on Friday, July 25th. Veritas upgraded shares of Teck Resources to a "hold" rating in a research report on Friday, April 11th. Finally, National Bankshares upgraded shares of Teck Resources from a "sector perform" rating to an "outperform" rating in a research report on Thursday, April 24th. Thirteen investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $60.11.

Teck Resources Company Profile

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.