DRW Securities LLC Invests $6.01 Million in Teck Resources Ltd $TECK

Key Points

• DRW Securities LLC has acquired a new position in Teck Resources Ltd, purchasing 165,006 shares valued at $6,011,000 in the 1st quarter.
• Teck Resources reported a quarterly earnings per share of $0.27, surpassing analyst expectations of $0.20, with a revenue of $1.49 billion for the quarter.
• The company declared a quarterly dividend of $0.0918, marking an increase from their previous dividend and reflecting a dividend yield of 1.1%.

DRW Securities LLC acquired a new stake in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 165,006 shares of the basic materials company's stock, valued at approximately $6,011,000.

Several other hedge funds have also modified their holdings of TECK. First Trust Advisors LP raised its stake in shares of Teck Resources by 1.6% in the fourth quarter. First Trust Advisors LP now owns 65,749 shares of the basic materials company's stock valued at $2,665,000 after acquiring an additional 1,027 shares in the last quarter. Northern Trust Corp increased its holdings in Teck Resources by 55.9% in the fourth quarter. Northern Trust Corp now owns 391,370 shares of the basic materials company's stock valued at $15,862,000 after buying an additional 140,404 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in Teck Resources by 100.1% in the fourth quarter. BNP Paribas Financial Markets now owns 283,346 shares of the basic materials company's stock valued at $11,484,000 after buying an additional 141,753 shares during the last quarter. Bayesian Capital Management LP purchased a new position in Teck Resources in the fourth quarter valued at $3,216,000. Finally, Balyasny Asset Management L.P. increased its holdings in Teck Resources by 21.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,046,803 shares of the basic materials company's stock valued at $42,427,000 after buying an additional 187,489 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Price Performance

Shares of TECK stock traded up $0.19 during midday trading on Wednesday, reaching $33.74. 8,754,430 shares of the company traded hands, compared to its average volume of 2,862,161. The firm's 50 day simple moving average is $35.43 and its two-hundred day simple moving average is $36.72. 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 firm has a market cap of $16.30 billion, a PE ratio of 23.42, a price-to-earnings-growth ratio of 0.53 and a beta of 0.78.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its quarterly earnings results on Thursday, July 24th. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.07. Teck Resources had a net margin of 2.51% and a return on equity of 3.91%. The company 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 firm earned $0.79 EPS. The company's revenue for the quarter was up 12.3% on a year-over-year basis. On average, equities research 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. Stockholders of record on Monday, September 15th will be paid a dividend of $0.0918 per share. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.37 dividend on an annualized basis and a dividend yield of 1.1%. Teck Resources's dividend payout ratio is 94.74%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on TECK shares. CIBC lowered Teck Resources from a "sector outperform" rating to a "neutral" rating in a report on Friday, July 25th. Morgan Stanley lowered Teck Resources from an "overweight" rating to an "equal weight" rating and raised their price target for the stock from $42.00 to $44.00 in a report on Tuesday, July 15th. Desjardins lowered Teck Resources from a "buy" rating to a "hold" rating in a report on Friday, July 18th. Royal Bank Of Canada lowered their price target on Teck Resources from $82.00 to $67.00 and set an "outperform" rating on the stock in a report on Friday, July 25th. Finally, Stifel Canada raised Teck Resources to a "hold" rating in a report on Tuesday, July 8th. 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.11.

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.