Harbour Capital Advisors LLC Takes $694,000 Position in Teck Resources Ltd (NYSE:TECK)

Harbour Capital Advisors LLC acquired a new stake in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 20,373 shares of the basic materials company's stock, valued at approximately $694,000.

Other institutional investors have also bought and sold shares of the company. Principal Securities Inc. increased its holdings in shares of Teck Resources by 49.9% in the fourth quarter. Principal Securities Inc. now owns 2,858 shares of the basic materials company's stock valued at $116,000 after purchasing an additional 952 shares during the last quarter. Sanctuary Advisors LLC grew its holdings in Teck Resources by 1.6% in the 4th quarter. Sanctuary Advisors LLC now owns 31,319 shares of the basic materials company's stock valued at $1,306,000 after buying an additional 479 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in Teck Resources in the 4th quarter valued at $214,000. RWC Asset Management LLP acquired a new stake in shares of Teck Resources in the 4th quarter worth $12,963,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Teck Resources by 8.5% in the 4th quarter. Bank of New York Mellon Corp now owns 1,720,766 shares of the basic materials company's stock worth $69,743,000 after acquiring an additional 134,500 shares during the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

Teck Resources Trading Down 0.5%

Shares of TECK stock traded down $0.20 on Wednesday, hitting $38.35. The stock had a trading volume of 396,967 shares, compared to its average volume of 3,151,695. The company's 50 day moving average price is $36.45 and its 200-day moving average price is $39.07. 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 3.36 and a quick ratio of 2.57. The firm has a market capitalization of $18.64 billion, a P/E ratio of 66.10, a P/E/G ratio of 0.56 and a beta of 0.79.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its quarterly earnings results on Thursday, April 24th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.18. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $2.19 billion. Teck Resources had a net margin of 3.48% and a return on equity of 4.53%. The business's revenue for the quarter was up 41.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.75 earnings per share. Analysts anticipate that Teck Resources Ltd will post 1.53 earnings per share for the current year.

Teck Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a dividend of $0.0901 per share. This is an increase from Teck Resources's previous quarterly dividend of $0.09. This represents a $0.36 annualized dividend and a yield of 0.94%. The ex-dividend date is Monday, June 16th. Teck Resources's dividend payout ratio is presently 62.07%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their price target on shares of Teck Resources from $50.00 to $41.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Bank of America boosted their target price on shares of Teck Resources from $62.00 to $64.00 and gave the company a "buy" rating in a report on Monday, March 10th. National Bank Financial upgraded shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 24th. Desjardins assumed coverage on Teck Resources in a report on Friday, April 4th. They issued a "buy" rating on the stock. Finally, National Bankshares upgraded Teck Resources from a "sector perform" rating to an "outperform" rating in a research report on Thursday, April 24th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $64.63.

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.