Campbell & CO Investment Adviser LLC Buys New Shares in Teck Resources Ltd $TECK

Key Points

• Campbell & CO Investment Adviser LLC purchased 68,707 shares of Teck Resources Ltd, valued at approximately $2.5 million, indicating strong institutional interest in the company.
• Teck Resources recently reported earnings of $0.27 per share, beating estimates, though revenue was below expectations at $1.49 billion.
• The company announced a quarterly dividend increase to $0.0918, enhancing its yield to 1.1%, scheduled for payment on September 29th.

Campbell & CO Investment Adviser LLC bought a new stake in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 68,707 shares of the basic materials company's stock, valued at approximately $2,503,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TECK. Smartleaf Asset Management LLC boosted its holdings in Teck Resources by 69.2% in the first quarter. Smartleaf Asset Management LLC now owns 856 shares of the basic materials company's stock valued at $32,000 after purchasing an additional 350 shares during the period. Costello Asset Management INC purchased a new position in Teck Resources in the first quarter valued at $33,000. Banque Cantonale Vaudoise purchased a new stake in Teck Resources during the 1st quarter worth about $36,000. Golden State Wealth Management LLC lifted 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 buying an additional 1,134 shares during the last quarter. Finally, Ameriflex Group Inc. purchased a new stake in Teck Resources during the 4th quarter worth about $50,000. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Teck Resources Stock Up 5.8%

Teck Resources stock opened at $33.60 on Monday. 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 2.45 and a current ratio of 3.47. The company has a market capitalization of $16.23 billion, a P/E ratio of 88.42, a PEG ratio of 0.53 and a beta of 0.81. The stock has a 50-day simple moving average of $36.19 and a 200-day simple moving average of $37.16.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its 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 business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same period in the previous year, the business earned $0.79 EPS. The business's quarterly revenue was up 12.3% on a year-over-year basis. Equities research analysts expect that Teck Resources Ltd will post 1.53 earnings per share for the current year.

Teck Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be issued a $0.0918 dividend. This represents a $0.37 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, September 15th. This is an increase from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's dividend payout ratio (DPR) is presently 94.74%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on TECK shares. Benchmark decreased their price target on Teck Resources from $55.00 to $48.00 and set a "buy" rating for the company in a report on Monday, July 28th. Stifel Nicolaus started coverage on Teck Resources in a report on Wednesday, July 9th. They set a "hold" rating for the company. Cibc World Mkts downgraded Teck Resources from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. CIBC downgraded Teck Resources from a "sector outperform" rating to a "neutral" rating in a report on Friday, July 25th. Finally, B. Riley downgraded Teck Resources from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, the company 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.

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