29,129 Shares in Teck Resources Ltd $TECK Acquired by Avanza Fonder AB

Key Points

• Avanza Fonder AB has acquired a new stake in Teck Resources Ltd, purchasing 29,129 shares valued at approximately $1,176,000 in the second quarter.
• Teck Resources recently declared a quarterly dividend increase to $0.0918 per share, boosting the annualized dividend to $0.37, with a current dividend yield of 0.9%.
• The company's quarterly earnings report showed a net margin of 2.51% and revenue of $1.49 billion, which was lower than analysts' expectations.

Avanza Fonder AB acquired a new stake in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 29,129 shares of the basic materials company's stock, valued at approximately $1,176,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC boosted its position in Teck Resources by 5.6% during the first quarter. Sequoia Financial Advisors LLC now owns 10,354 shares of the basic materials company's stock worth $377,000 after purchasing an additional 545 shares in the last quarter. Golden State Wealth Management LLC boosted its holdings in 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 valued at $42,000 after purchasing an additional 1,134 shares during the last quarter. Cetera Investment Advisers lifted its holdings in Teck Resources by 20.9% during the 1st quarter. Cetera Investment Advisers now owns 69,885 shares of the basic materials company's stock worth $2,546,000 after buying an additional 12,092 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Teck Resources by 22.6% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 12,141 shares of the basic materials company's stock valued at $442,000 after purchasing an additional 2,240 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Teck Resources by 13,171.4% in the first quarter. GAMMA Investing LLC now owns 3,716 shares of the basic materials company's stock worth $135,000 after buying an additional 3,688 shares during the period. Institutional investors and hedge funds own 78.06% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on TECK. Cibc World Mkts downgraded Teck Resources from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. Scotiabank reissued an "outperform" rating on shares of Teck Resources in a research note on Wednesday, September 10th. Stifel Canada upgraded shares of Teck Resources to a "hold" rating in a report on Tuesday, July 8th. Desjardins cut shares of Teck Resources from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Finally, Royal Bank Of Canada reduced their price target on shares of Teck Resources from $82.00 to $67.00 and set an "outperform" rating for the company in a research note on Friday, July 25th. One research 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 presently has a consensus rating of "Moderate Buy" and an average price target of $56.88.

Teck Resources Price Performance

TECK traded down $0.51 on Monday, hitting $38.73. 4,743,223 shares of the company's stock were exchanged, compared to its average volume of 7,363,052. The firm has a 50-day moving average price of $35.12 and a 200-day moving average price of $36.45. The company has a current ratio of 3.47, a quick ratio of 2.45 and a debt-to-equity ratio of 0.15. The stock has a market cap of $18.60 billion, a price-to-earnings ratio of 101.93, a P/E/G ratio of 0.58 and a beta of 0.78. Teck Resources Ltd has a fifty-two week low of $28.32 and a fifty-two week high of $54.13.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued 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 company had revenue of $1.49 billion for 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 business's revenue for the quarter 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 analysts anticipate that Teck Resources Ltd will post 1.53 earnings per share for the current year.

Teck Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be given a $0.0918 dividend. The ex-dividend date is Monday, September 15th. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. This represents a $0.37 annualized dividend and a yield of 0.9%. Teck Resources's dividend payout ratio (DPR) is currently 94.74%.

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.