Boston Partners Has $337.04 Million Position in Teck Resources Ltd (NYSE:TECK)

Key Points

• Boston Partners increased its stake in Teck Resources Ltd by 1.9%, owning approximately $337 million worth of shares by the end of the first quarter.
• The company recently reported earnings of $0.27 per share, surpassing expectations, although its revenue of $1.49 billion was below the consensus estimate.
• Teck Resources announced a quarterly dividend of $0.0918 per share, representing an increase from its previous dividend and a yield of 1.1%.

Boston Partners boosted its holdings in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 1.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,251,775 shares of the basic materials company's stock after buying an additional 173,203 shares during the quarter. Boston Partners owned approximately 1.88% of Teck Resources worth $337,042,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Costello Asset Management INC bought a new position in Teck Resources during the 1st quarter worth approximately $33,000. Banque Cantonale Vaudoise bought a new position in Teck Resources during the 1st quarter worth approximately $36,000. Golden State Wealth Management LLC raised its holdings in Teck Resources by 7,560.0% during the 1st 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. bought a new position in Teck Resources during the 4th quarter worth approximately $50,000. Finally, Bruce G. Allen Investments LLC raised its holdings in Teck Resources by 104.8% during the 1st 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. Institutional investors own 78.06% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on TECK shares. Morgan Stanley lowered shares of Teck Resources from an "overweight" rating to an "equal weight" rating and lifted their price objective for the company from $42.00 to $44.00 in a research note on Tuesday, July 15th. National Bankshares upgraded shares of Teck Resources from a "sector perform" rating to an "outperform" rating in a research note on Thursday, April 24th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $41.00 price target (down previously from $46.00) on shares of Teck Resources in a research report on Friday, July 25th. Desjardins downgraded shares of Teck Resources from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Finally, Stifel Nicolaus began coverage on shares of Teck Resources in a research report on Wednesday, July 9th. They issued a "hold" rating for the company. Thirteen investment 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. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $60.11.

Teck Resources Price Performance

Shares of NYSE:TECK opened at $32.53 on Wednesday. Teck Resources Ltd has a 1-year low of $28.32 and a 1-year high of $54.13. 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 business has a fifty day moving average price of $37.20 and a 200-day moving average price of $37.71. The company has a market capitalization of $15.71 billion, a PE ratio of 85.61, a PEG ratio of 0.51 and a beta of 0.81.

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 for the quarter, beating the consensus estimate of $0.20 by $0.07. Teck Resources had a return on equity of 3.91% and a net margin of 2.51%. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same period last year, the company earned $0.79 earnings per share. The company's revenue was up 12.3% on a year-over-year basis. As a group, equities analysts expect that Teck Resources Ltd will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

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

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.

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