Dynamic Technology Lab Private Ltd Acquires Shares of 77,540 Teck Resources Ltd $TECK

Key Points

• Dynamic Technology Lab Private Ltd acquired 77,540 shares of Teck Resources Ltd, valued at approximately $2,825,000, making it the 20th largest position in their portfolio.
• Teck Resources recently increased its quarterly dividend to $0.0918, resulting in an annualized dividend of $0.37, with a payout ratio of 94.74%.
• The company's stock price rose by 4.7%, and analysts expect an earnings per share of 1.53 for the current year, with a consensus price target of $57.88.

Dynamic Technology Lab Private Ltd bought a new position in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 77,540 shares of the basic materials company's stock, valued at approximately $2,825,000. Teck Resources accounts for 0.4% of Dynamic Technology Lab Private Ltd's investment portfolio, making the stock its 20th biggest position.

A number of other large investors have also recently added to or reduced their stakes in TECK. Temasek Holdings Private Ltd boosted its position in shares of Teck Resources by 125.8% in the first quarter. Temasek Holdings Private Ltd now owns 2,479,555 shares of the basic materials company's stock valued at $90,330,000 after acquiring an additional 1,381,355 shares during the period. Pentwater Capital Management LP boosted its position in shares of Teck Resources by 70.0% in the first quarter. Pentwater Capital Management LP now owns 85,000 shares of the basic materials company's stock valued at $3,097,000 after acquiring an additional 35,000 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Teck Resources by 2.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,015,149 shares of the basic materials company's stock valued at $109,817,000 after acquiring an additional 66,225 shares during the period. Cinctive Capital Management LP boosted its position in shares of Teck Resources by 33.2% in the first quarter. Cinctive Capital Management LP now owns 87,461 shares of the basic materials company's stock valued at $3,189,000 after acquiring an additional 21,775 shares during the period. Finally, BW Gestao de Investimentos Ltda. boosted its position in shares of Teck Resources by 50.7% in the first quarter. BW Gestao de Investimentos Ltda. now owns 103,990 shares of the basic materials company's stock valued at $3,788,000 after acquiring an additional 34,980 shares during the period. Institutional investors own 78.06% of the company's stock.

Analysts Set New Price Targets

TECK has been the subject of several research reports. Stifel Nicolaus initiated coverage on Teck Resources in a research report on Wednesday, July 9th. They issued a "hold" rating for the company. UBS Group raised Teck Resources from a "neutral" rating to a "buy" rating in a research report on Wednesday, September 3rd. Desjardins cut Teck Resources from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Wall Street Zen raised Teck Resources from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Benchmark cut their target price on Teck Resources from $55.00 to $48.00 and set a "buy" rating for the company in a research note on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, Teck Resources currently has an average rating of "Moderate Buy" and an average target price of $56.88.

Teck Resources Stock Performance

Shares of NYSE TECK traded up $4.00 during trading hours on Tuesday, reaching $39.11. The stock had a trading volume of 41,718,620 shares, compared to its average volume of 3,896,735. The business's fifty day moving average is $35.00 and its two-hundred day moving average is $36.47. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.47 and a quick ratio of 2.45. The company has a market cap of $18.79 billion, a price-to-earnings ratio of 102.92, a PEG ratio of 0.55 and a beta of 0.78. Teck Resources Ltd has a twelve month low of $28.32 and a twelve month high of $54.13.

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

Teck Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.0918 per share. The ex-dividend date of this dividend is Monday, September 15th. This is a boost from Teck Resources's previous quarterly dividend of $0.09. This represents a $0.37 dividend on an annualized basis and a dividend yield of 0.9%. Teck Resources's dividend payout ratio (DPR) is 94.74%.

Teck Resources 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.