ASR Vermogensbeheer N.V. Acquires Shares of 16,451 Teck Resources Ltd (NYSE:TECK)

Key Points

• ASR Vermogensbeheer N.V. has acquired 16,451 shares of Teck Resources Ltd, valued at approximately $599,000, marking the firm's new investment in the company.
• Teck Resources recently announced a quarterly dividend increase to $0.0918, with a yield of 1.1%, enhancing its appeal to shareholders.
• Analysts have mixed views on Teck Resources' stock, with a consensus rating of "Hold" and an average price target of $60.11, reflecting varying degrees of confidence in the company's future performance.

ASR Vermogensbeheer N.V. acquired a new stake in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 16,451 shares of the basic materials company's stock, valued at approximately $599,000.

Other large investors have also added to or reduced their stakes in the company. Costello Asset Management INC purchased a new position in shares of Teck Resources in the first quarter worth $33,000. Banque Cantonale Vaudoise purchased a new position in shares of Teck Resources in the first quarter worth $36,000. Golden State Wealth Management LLC raised its stake in shares of Teck Resources by 7,560.0% in the first quarter. Golden State Wealth Management LLC now owns 1,149 shares of the basic materials company's stock worth $42,000 after purchasing an additional 1,134 shares during the last quarter. Ameriflex Group Inc. purchased a new position in shares of Teck Resources in the fourth quarter worth $50,000. Finally, Bruce G. Allen Investments LLC raised its stake in shares of Teck Resources by 104.8% in the first quarter. Bruce G. Allen Investments LLC now owns 1,636 shares of the basic materials company's stock worth $60,000 after purchasing an additional 837 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company's stock.

Teck Resources Trading Up 0.7%

Shares of NYSE:TECK traded up $0.23 during trading on Tuesday, hitting $32.53. The company had a trading volume of 3,756,365 shares, compared to its average volume of 3,794,885. The stock has a market cap of $15.71 billion, a price-to-earnings ratio of 85.61, a price-to-earnings-growth ratio of 0.53 and a beta of 0.81. Teck Resources Ltd has a one year low of $28.32 and a one year high of $54.13. The company has a fifty day simple moving average of $37.20 and a two-hundred day simple moving average of $37.71. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.47 and a quick ratio of 2.45.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its quarterly earnings data on Thursday, July 24th. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 3.91% and a net margin of 2.51%. The company's revenue for the quarter was up 12.3% on a year-over-year basis. During the same period last year, the company earned $0.79 EPS. As a group, equities analysts forecast that Teck Resources Ltd will post 1.53 earnings per share for the current year.

Teck Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be paid a dividend of $0.0918 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.37 dividend on an annualized basis and a dividend yield of 1.1%. This is an increase from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's dividend payout ratio is 94.74%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Benchmark decreased their price target 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. UBS Group restated a "neutral" rating on shares of Teck Resources in a research report on Tuesday, April 15th. BMO Capital Markets started coverage on Teck Resources in a research report on Wednesday, April 16th. They issued an "outperform" rating for the company. National Bank Financial upgraded Teck Resources from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. Finally, Desjardins lowered Teck Resources from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Thirteen research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average 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.