Teck Resources Ltd $TECK Stock Position Raised by Jump Financial LLC

Key Points

• Jump Financial LLC increased its stake in Teck Resources by 38.6%, owning approximately 309,726 shares valued at $11.28 million after purchasing an additional 86,197 shares this quarter.
• Teck Resources announced a quarterly dividend increase, with shareholders to receive $0.0918 per share, representing a 1.1% yield and a boost from the previous dividend.
• Recent analyst ratings have seen changes, including Morgan Stanley lowering its rating to "equal weight" and adjusting the price target from $42.00 to $44.00, amidst a generally mixed performance among analysts.

Jump Financial LLC boosted its position in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 38.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 309,726 shares of the basic materials company's stock after buying an additional 86,197 shares during the quarter. Jump Financial LLC owned 0.06% of Teck Resources worth $11,283,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. First Trust Advisors LP boosted its position 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 period. Hsbc Holdings PLC boosted its position in shares of Teck Resources by 24.9% in the 4th quarter. Hsbc Holdings PLC now owns 332,153 shares of the basic materials company's stock valued at $13,463,000 after purchasing an additional 66,302 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of Teck Resources in the 4th quarter valued at $3,234,000. Aquatic Capital Management LLC acquired a new position in shares of Teck Resources in the 4th quarter valued at $5,067,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Teck Resources by 38.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 2,638,973 shares of the basic materials company's stock valued at $107,135,000 after purchasing an additional 736,721 shares during the period. Institutional investors own 78.06% of the company's stock.

Teck Resources Stock Down 0.2%

NYSE TECK traded down $0.06 during trading on Tuesday, reaching $33.25. 3,589,313 shares of the company's stock were exchanged, compared to its average volume of 3,691,517. 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 $16.06 billion, a PE ratio of 87.50, a P/E/G ratio of 0.52 and a beta of 0.81. The company has a current ratio of 3.47, a quick ratio of 2.45 and a debt-to-equity ratio of 0.15. The company's fifty day simple moving average is $35.97 and its 200-day simple moving average is $37.06.

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

Teck Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.0918 per share. This is a boost from Teck Resources's previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.37 dividend on an annualized basis and a dividend yield of 1.1%. Teck Resources's dividend payout ratio (DPR) is 94.74%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on TECK shares. Morgan Stanley lowered Teck Resources from an "overweight" rating to an "equal weight" rating and increased their price target for the company from $42.00 to $44.00 in a research report on Tuesday, July 15th. Benchmark decreased their price target on Teck Resources from $55.00 to $48.00 and set a "buy" rating for the company in a research report on Monday, July 28th. Royal Bank Of Canada decreased their price target on Teck Resources from $82.00 to $67.00 and set an "outperform" rating for the company in a research report on Friday, July 25th. Stifel Nicolaus began coverage on Teck Resources in a research report on Wednesday, July 9th. They set a "hold" rating for the company. Finally, B. Riley lowered Teck Resources from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Teck Resources 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.