Harbour Capital Advisors LLC Buys New Holdings in Teck Resources Ltd (NYSE:TECK)

Harbour Capital Advisors LLC acquired a new position in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 20,373 shares of the basic materials company's stock, valued at approximately $694,000.

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

Analysts Set New Price Targets

Several brokerages recently issued reports on TECK. UBS Group reaffirmed a "neutral" rating on shares of Teck Resources in a report on Tuesday, April 15th. National Bankshares raised Teck Resources from a "sector perform" rating to an "outperform" rating in a research report on Thursday, April 24th. Bank of America raised their price target on Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Veritas raised Teck Resources to a "hold" rating in a research report on Friday, April 11th. Finally, Desjardins initiated coverage on Teck Resources in a research report on Friday, April 4th. They set a "buy" rating for the company. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $64.63.

Teck Resources Trading Down 2.3%

Shares of NYSE:TECK traded down $0.94 during midday trading on Friday, reaching $40.54. The company's stock had a trading volume of 4,263,976 shares, compared to its average volume of 3,195,287. The firm has a market cap of $19.70 billion, a price-to-earnings ratio of 69.90, a price-to-earnings-growth ratio of 0.61 and a beta of 0.79. The company has a quick ratio of 2.57, a current ratio of 3.36 and a debt-to-equity ratio of 0.15. Teck Resources Ltd has a 1 year low of $28.32 and a 1 year high of $54.13. The business has a 50 day moving average price of $36.87 and a 200 day moving average price of $38.99.

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

Teck Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a $0.0901 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.89%. This is an increase from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's payout ratio is currently 62.07%.

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.