Headlands Technologies LLC Takes $553,000 Position in Teck Resources Ltd (NYSE:TECK)

Key Points

• Headlands Technologies LLC has acquired a new stake in Teck Resources Ltd, purchasing 15,185 shares valued at approximately $553,000 during the 1st quarter.
• Teck Resources recently announced an increase in its quarterly dividend to $0.0918 per share, yielding 1.1%, with the payout ratio currently at 94.74%.
• Despite a quarterly earnings per share (EPS) of $0.27, which surpassed analyst expectations, Teck's revenue fell short, totaling $1.49 billion against an estimate of $2.25 billion.

Headlands Technologies LLC acquired a new position in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,185 shares of the basic materials company's stock, valued at approximately $553,000.

A number of other large investors have also recently bought and sold shares of TECK. Costello Asset Management INC bought a new stake in Teck Resources during the first quarter valued at about $33,000. Banque Cantonale Vaudoise bought a new stake in Teck Resources during the first quarter valued at about $36,000. Golden State Wealth Management LLC boosted its holdings in Teck Resources by 7,560.0% during the first quarter. Golden State Wealth Management LLC now owns 1,149 shares of the basic materials company's stock valued at $42,000 after acquiring an additional 1,134 shares during the period. Ameriflex Group Inc. bought a new stake in Teck Resources during the fourth quarter valued at about $50,000. Finally, Bruce G. Allen Investments LLC boosted its holdings in Teck Resources by 104.8% during the first quarter. Bruce G. Allen Investments LLC now owns 1,636 shares of the basic materials company's stock valued at $60,000 after acquiring an additional 837 shares during the period. 78.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TECK has been the subject of a number of recent analyst reports. Desjardins cut shares of Teck Resources from a "buy" rating to a "hold" rating in a report on Friday, July 18th. National Bank Financial upgraded shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 24th. BMO Capital Markets started coverage on shares of Teck Resources in a research note on Wednesday, April 16th. They issued an "outperform" rating for the company. UBS Group reiterated a "neutral" rating on shares of Teck Resources in a research note on Tuesday, April 15th. Finally, Royal Bank Of Canada reduced their target price on shares of Teck Resources from $82.00 to $67.00 and set an "outperform" rating for the company in a research note on Friday, July 25th. Thirteen analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $60.11.

Teck Resources Price Performance

TECK traded up $0.23 during midday trading on Tuesday, reaching $32.53. 3,756,365 shares of the company's stock were exchanged, compared to its average volume of 3,794,885. The firm has a market capitalization of $15.71 billion, a price-to-earnings ratio of 85.61, a price-to-earnings-growth ratio of 0.53 and a beta of 0.81. The company has a quick ratio of 2.45, a current ratio of 3.47 and a debt-to-equity ratio of 0.15. Teck Resources Ltd has a one year low of $28.32 and a one year high of $54.13. The business has a 50-day simple moving average of $37.29 and a two-hundred day simple moving average of $37.75.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its quarterly earnings results on Thursday, July 24th. The basic materials company reported $0.27 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 2.51% and a return on equity of 3.91%. The company's revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.79 earnings per share. As a group, research analysts predict that Teck Resources Ltd will post 1.53 EPS for the current year.

Teck Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders 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. This represents a $0.37 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Monday, September 15th. Teck Resources's dividend payout ratio is 94.74%.

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.