Alps Advisors Inc. Grows Stake in Teck Resources Ltd (NYSE:TECK)

Alps Advisors Inc. grew its position in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 10.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 97,186 shares of the basic materials company's stock after purchasing an additional 9,336 shares during the quarter. Alps Advisors Inc.'s holdings in Teck Resources were worth $3,540,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Community Bank N.A. purchased a new stake in shares of Teck Resources during the fourth quarter valued at $33,000. Golden State Wealth Management LLC grew its holdings in shares of Teck Resources by 7,560.0% during the first 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 during the last quarter. Ameriflex Group Inc. purchased a new stake in shares of Teck Resources during the fourth quarter valued at $50,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Teck Resources during the fourth quarter valued at $55,000. Finally, Bruce G. Allen Investments LLC grew its holdings in shares of Teck Resources by 104.8% during the first 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 during the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. UBS Group reissued a "neutral" rating on shares of Teck Resources in a report on Tuesday, April 15th. National Bankshares raised shares of Teck Resources from a "sector perform" rating to an "outperform" rating in a report on Thursday, April 24th. Veritas upgraded shares of Teck Resources to a "hold" rating in a research report on Friday, April 11th. National Bank Financial upgraded shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. Finally, Stifel Canada upgraded shares of Teck Resources to a "hold" rating in a research report on Tuesday. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Teck Resources has an average rating of "Moderate Buy" and an average target price of $65.25.

Teck Resources Trading Down 1.3%

Shares of Teck Resources stock opened at $38.29 on Friday. The firm has a 50-day simple moving average of $37.92 and a two-hundred day simple moving average of $38.83. The company has a market cap of $18.50 billion, a P/E ratio of 66.02, a price-to-earnings-growth ratio of 0.60 and a beta of 0.80. Teck Resources Ltd has a fifty-two week low of $28.32 and a fifty-two week high of $54.13. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.57 and a current ratio of 3.36.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its quarterly earnings data on Thursday, April 24th. The basic materials company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.18. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $2.19 billion. Teck Resources had a net margin of 3.48% and a return on equity of 4.53%. The company's revenue was up 41.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.75 earnings per share. As a group, equities analysts predict that Teck Resources Ltd will post 1.53 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were paid a dividend of $0.0901 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.94%. This is a boost from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's payout ratio is currently 62.07%.

About Teck Resources

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.

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