Caxton Associates LLP Acquires Shares of 991,507 Teck Resources Ltd $TECK

Key Points

• Caxton Associates LLP has acquired 991,507 shares of Teck Resources Ltd, valued at approximately $36.1 million, making it the firm's 14th largest holding.
• Teck Resources recently reported EPS of $0.27 for the last quarter, surpassing estimates of $0.20, despite quarterly revenue falling short at $1.49 billion against a consensus of $2.25 billion.
• The company has announced a quarterly dividend increase to $0.0918 per share, reflecting an annualized dividend of $0.37 and a yield of 1.1%.

Caxton Associates LLP acquired a new stake in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 991,507 shares of the basic materials company's stock, valued at approximately $36,121,000. Teck Resources makes up approximately 1.3% of Caxton Associates LLP's investment portfolio, making the stock its 14th biggest holding. Caxton Associates LLP owned 0.20% of Teck Resources as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in TECK. Smartleaf Asset Management LLC boosted its stake in shares of Teck Resources by 69.2% during the 1st quarter. Smartleaf Asset Management LLC now owns 856 shares of the basic materials company's stock worth $32,000 after acquiring an additional 350 shares in the last quarter. Costello Asset Management INC purchased a new stake in shares of Teck Resources during the 1st quarter worth approximately $33,000. Banque Cantonale Vaudoise purchased a new stake in shares of Teck Resources during the 1st quarter worth approximately $36,000. Golden State Wealth Management LLC boosted its stake in shares of 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 acquiring an additional 1,134 shares in the last quarter. Finally, Ameriflex Group Inc. purchased a new stake in shares of Teck Resources during the 4th quarter worth approximately $50,000. Hedge funds and other institutional investors own 78.06% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on TECK. Cibc World Mkts lowered Teck Resources from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. Royal Bank Of Canada reduced their target price on Teck Resources from $82.00 to $67.00 and set an "outperform" rating on the stock in a research note on Friday, July 25th. Stifel Canada raised Teck Resources to a "hold" rating in a research note on Tuesday, July 8th. Benchmark reduced their target price on Teck Resources from $55.00 to $48.00 and set a "buy" rating on the stock in a research note on Monday, July 28th. Finally, B. Riley lowered Teck Resources from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $57.88.

Teck Resources Trading Up 4.7%

TECK stock opened at $34.31 on Monday. The company has a market cap of $16.48 billion, a price-to-earnings ratio of 90.29, a PEG ratio of 0.54 and a beta of 0.78. The company has a quick ratio of 2.45, a current ratio of 3.47 and a debt-to-equity ratio of 0.15. The business has a fifty day simple moving average of $35.13 and a 200-day simple moving average of $36.50. Teck Resources Ltd has a 52 week low of $28.32 and a 52 week high of $54.13.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its quarterly earnings data on Thursday, July 24th. The basic materials company reported $0.27 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 business's revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.79 EPS. On average, equities research analysts expect that Teck Resources Ltd will post 1.53 EPS for the current year.

Teck Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.0918 per share. This represents a $0.37 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Monday, September 15th. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's payout ratio 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.

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