Teck Resources Ltd $TECK Shares Bought by Federation des caisses Desjardins du Quebec

Key Points

• The Federation des caisses Desjardins du Quebec increased its stake in Teck Resources Ltd by 10.1% in Q1, owning 2,099,764 shares valued at approximately $75.85 million.
• Teck Resources recently declared a quarterly dividend of $0.0918, up from the previous $0.09, with a 1.1% yield.
• Shares of Teck Resources opened at $34.21, with a twelve-month price range of $28.32 to $54.13, and a current market capitalization of $16.52 billion.

Federation des caisses Desjardins du Quebec boosted its position in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 10.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,099,764 shares of the basic materials company's stock after buying an additional 193,104 shares during the period. Federation des caisses Desjardins du Quebec owned 0.43% of Teck Resources worth $75,850,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of TECK. First Trust Advisors LP grew its stake in shares of Teck Resources by 1.6% in the 4th quarter. First Trust Advisors LP now owns 65,749 shares of the basic materials company's stock valued at $2,665,000 after purchasing an additional 1,027 shares during the last quarter. Northern Trust Corp grew its stake in shares of Teck Resources by 55.9% in the 4th quarter. Northern Trust Corp now owns 391,370 shares of the basic materials company's stock valued at $15,862,000 after purchasing an additional 140,404 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Teck Resources by 100.1% in the 4th quarter. BNP Paribas Financial Markets now owns 283,346 shares of the basic materials company's stock valued at $11,484,000 after purchasing an additional 141,753 shares during the last quarter. Balyasny Asset Management L.P. grew its stake in shares of Teck Resources by 21.8% in the 4th 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 purchasing an additional 187,489 shares during the last quarter. Finally, Cetera Investment Advisers grew its stake in shares of Teck Resources by 20.6% in the 4th quarter. Cetera Investment Advisers now owns 57,793 shares of the basic materials company's stock valued at $2,342,000 after purchasing an additional 9,887 shares during the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TECK. CIBC downgraded Teck Resources from a "sector outperform" rating to a "neutral" rating in a research note on Friday, July 25th. Morgan Stanley downgraded Teck Resources from an "overweight" rating to an "equal weight" rating and lifted their price target for the company from $42.00 to $44.00 in a research note on Tuesday, July 15th. Desjardins downgraded Teck Resources from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. B. Riley downgraded Teck Resources from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. Finally, Stifel Nicolaus initiated coverage on Teck Resources in a research note on Wednesday, July 9th. They issued a "hold" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $57.88.

Teck Resources Price Performance

TECK stock traded up $1.54 during midday trading on Friday, hitting $34.31. 5,199,901 shares of the stock were exchanged, compared to its average volume of 3,702,271. The stock's 50-day moving average price is $35.13 and its 200-day moving average price is $36.59. The stock has a market cap of $16.48 billion, a price-to-earnings ratio of 90.29, a PEG ratio of 0.51 and a beta of 0.78. 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.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its quarterly earnings data on Thursday, July 24th. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.07. The firm had revenue of $1.49 billion during the quarter, compared to analysts' expectations of $2.25 billion. Teck Resources had a return on equity of 3.91% and a net margin of 2.51%.Teck Resources's revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.79 earnings per share. Research analysts predict that Teck Resources Ltd will post 1.53 earnings per share for the current year.

Teck Resources Increases Dividend

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