Teck Resources Ltd $TECK Shares Bought by Fox Run Management L.L.C.

Key Points

• Fox Run Management L.L.C. increased its stake in Teck Resources by 910.6% during the 1st quarter, acquiring an additional 56,330 shares and now holding a total of 62,516 shares.
• Teck Resources plans to pay a quarterly dividend of $0.0918 on September 29th, up from the previous $0.09, with an annualized yield of 1.1%.
• Analysts have given Teck Resources an average rating of "Hold" with a consensus price target of $60.11, following several adjustments in their ratings and price objectives.

Fox Run Management L.L.C. raised its position in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 910.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,516 shares of the basic materials company's stock after purchasing an additional 56,330 shares during the quarter. Teck Resources accounts for approximately 0.4% of Fox Run Management L.L.C.'s portfolio, making the stock its 21st largest position. Fox Run Management L.L.C.'s holdings in Teck Resources were worth $2,277,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. increased its position in shares of Teck Resources by 2.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 13,511 shares of the basic materials company's stock worth $548,000 after acquiring an additional 335 shares during the period. Vontobel Holding Ltd. increased its position in shares of Teck Resources by 0.5% during the first quarter. Vontobel Holding Ltd. now owns 88,303 shares of the basic materials company's stock worth $3,217,000 after acquiring an additional 400 shares during the period. Assetmark Inc. increased its position in shares of Teck Resources by 2.4% during the first quarter. Assetmark Inc. now owns 19,945 shares of the basic materials company's stock worth $727,000 after acquiring an additional 471 shares during the period. Ervin Investment Management LLC increased its position in shares of Teck Resources by 5.1% during the first quarter. Ervin Investment Management LLC now owns 10,980 shares of the basic materials company's stock worth $400,000 after acquiring an additional 535 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of Teck Resources by 1.0% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 53,616 shares of the basic materials company's stock worth $1,953,000 after acquiring an additional 535 shares during the period. Hedge funds and other institutional investors own 78.06% of the company's stock.

Teck Resources Stock Performance

Shares of TECK traded down $0.2150 during mid-day trading on Tuesday, hitting $31.4150. 1,049,606 shares of the company's stock were exchanged, compared to its average volume of 3,746,562. Teck Resources Ltd has a fifty-two week low of $28.32 and a fifty-two week high of $54.13. The firm has a market capitalization of $15.18 billion, a P/E ratio of 82.66, a P/E/G ratio of 0.51 and a beta of 0.81. The business's 50 day moving average is $36.71 and its two-hundred day moving average is $37.43. The company has a current ratio of 3.47, a quick ratio of 2.45 and a debt-to-equity ratio of 0.15.

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

Teck Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be given a dividend of $0.0918 per share. The ex-dividend date is Monday, September 15th. This represents a $0.37 annualized dividend and a dividend yield of 1.2%. This is an increase from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's payout ratio is presently 94.74%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on TECK shares. Stifel Nicolaus started coverage on Teck Resources in a report on Wednesday, July 9th. They issued a "hold" rating on the stock. CIBC lowered Teck Resources from a "sector outperform" rating to a "neutral" rating in a report on Friday, July 25th. Wall Street Zen raised Teck Resources from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $41.00 target price (down previously from $46.00) on shares of Teck Resources in a report on Friday, July 25th. Finally, Stifel Canada upgraded shares of Teck Resources to a "hold" rating in a research note on Tuesday, July 8th. One equities 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's stock. Based on data from MarketBeat, Teck Resources currently has a consensus rating of "Hold" and an average 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.