Teck Resources Ltd $TECK Shares Purchased by BW Gestao de Investimentos Ltda.

Key Points

• BW Gestao de Investimentos Ltda. increased its stake in Teck Resources Ltd by 50.7% during the first quarter, owning 103,990 shares valued at approximately $3.79 million.
• A recent dividend increase was declared by Teck Resources, now set at $0.0918 per share, up from the previous $0.09 per share, with a dividend yield of 1.1%.
• Wall Street analysts have shown mixed sentiments on TECK, with ratings varying from "Strong Buy" to "Hold," while the average target price remains at $60.11.

BW Gestao de Investimentos Ltda. boosted its stake in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 50.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 103,990 shares of the basic materials company's stock after buying an additional 34,980 shares during the period. BW Gestao de Investimentos Ltda.'s holdings in Teck Resources were worth $3,788,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TECK. Principal Financial Group Inc. lifted its holdings in shares of Teck Resources by 56.9% during the 1st quarter. Principal Financial Group Inc. now owns 11,530,742 shares of the basic materials company's stock valued at $419,970,000 after purchasing an additional 4,180,623 shares during the last quarter. Carrhae Capital LLP purchased a new stake in shares of Teck Resources during the 1st quarter valued at $46,478,000. Canada Pension Plan Investment Board lifted its holdings in shares of Teck Resources by 37.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 3,715,016 shares of the basic materials company's stock valued at $135,349,000 after purchasing an additional 1,009,545 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in shares of Teck Resources by 18.8% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 5,882,044 shares of the basic materials company's stock valued at $238,381,000 after purchasing an additional 932,058 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Teck Resources by 1,611.2% during the 1st quarter. Wellington Management Group LLP now owns 751,146 shares of the basic materials company's stock valued at $27,358,000 after purchasing an additional 707,249 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. UBS Group upgraded Teck Resources from a "neutral" rating to a "buy" rating in a research note on Wednesday. Desjardins lowered shares of Teck Resources from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Benchmark decreased their target price on shares of Teck Resources from $55.00 to $48.00 and set a "buy" rating on the stock in a research note on Monday, July 28th. Stifel Canada raised shares of Teck Resources to a "hold" rating in a research report on Tuesday, July 8th. Finally, Cibc World Mkts downgraded shares of Teck Resources from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, Teck Resources currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.88.

Teck Resources Stock Performance

Shares of TECK stock traded up $1.54 during trading hours on Friday, reaching $34.31. 5,199,901 shares of the company's stock were exchanged, compared to its average volume of 3,702,271. The company has a market cap of $16.48 billion, a P/E ratio of 90.29, a price-to-earnings-growth ratio of 0.54 and a beta of 0.78. The company's 50 day moving average is $35.13 and its two-hundred day moving average is $36.54. 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.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.07. The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate 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 in the prior year, the business posted $0.79 EPS. Equities research analysts anticipate that Teck Resources Ltd will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be given a $0.0918 dividend. This is a boost from Teck Resources's previous quarterly dividend of $0.09. This represents a $0.37 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Monday, September 15th. Teck Resources's dividend payout ratio (DPR) is currently 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.