Kapitalo Investimentos Ltda Buys 83,628 Shares of Teck Resources Ltd $TECK

Kapitalo Investimentos Ltda raised its stake in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 23.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 436,487 shares of the basic materials company's stock after buying an additional 83,628 shares during the quarter. Teck Resources comprises 2.1% of Kapitalo Investimentos Ltda's portfolio, making the stock its 10th biggest position. Kapitalo Investimentos Ltda owned 0.09% of Teck Resources worth $28,716,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of TECK. Squarepoint Ops LLC acquired a new position in Teck Resources during the second quarter valued at approximately $7,952,000. Public Employees Retirement System of Ohio bought a new stake in Teck Resources in the second quarter valued at approximately $21,425,000. Nykredit A S acquired a new stake in Teck Resources in the second quarter worth $4,338,000. NewEdge Advisors LLC raised its holdings in Teck Resources by 92.0% in the first quarter. NewEdge Advisors LLC now owns 37,143 shares of the basic materials company's stock worth $1,922,000 after purchasing an additional 17,793 shares during the period. Finally, HBK Investments L P raised its holdings in Teck Resources by 264.2% in the second quarter. HBK Investments L P now owns 5,773,121 shares of the basic materials company's stock worth $343,270,000 after purchasing an additional 4,188,029 shares during the period. 78.06% of the stock is owned by institutional investors.

Teck Resources Price Performance

Shares of TECK opened at $64.39 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.33 and a current ratio of 3.12. The stock has a 50 day simple moving average of $66.82 and a 200 day simple moving average of $62.94. Teck Resources Ltd has a 52-week low of $38.00 and a 52-week high of $72.56. The firm has a market capitalization of $31.11 billion, a PE ratio of 17.45, a P/E/G ratio of 2.04 and a beta of 1.01.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its earnings results on Thursday, July 23rd. The basic materials company reported $1.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.40. The business had revenue of $2.54 billion during the quarter, compared to analysts' expectations of $2.38 billion. Teck Resources had a return on equity of 10.42% and a net margin of 17.85%. Teck Resources's revenue for the quarter was up 78.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.38 EPS. Sell-side analysts predict that Teck Resources Ltd will post 4.28 EPS for the current fiscal year.

Teck Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th were paid a C$0.12 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.50 dividend on an annualized basis and a yield of 0.8%. Teck Resources's payout ratio is presently 9.76%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on TECK shares. Stifel Nicolaus lifted their price target on shares of Teck Resources from $82.00 to $95.00 and gave the stock a "hold" rating in a research report on Tuesday. Weiss Ratings upgraded shares of Teck Resources from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 8th. JPMorgan Chase & Co. raised their price objective on Teck Resources from $46.00 to $47.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 28th. Wall Street Zen downgraded Teck Resources from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 26th. Finally, Raymond James Financial upgraded Teck Resources from a "market perform" rating to an "outperform" rating in a report on Thursday, July 23rd. Six investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $68.80.

About Teck Resources

Teck Resources Limited is a Canadian mining and mineral development company focused primarily on copper and zinc, commodities used in electrification, infrastructure, manufacturing and other industrial applications. The company explores for, develops and operates mines, mineral processing facilities and related infrastructure.

Teck's copper assets include Highland Valley Copper in British Columbia, Canada; Carmen de Andacollo in Chile; and Quebrada Blanca in northern Chile. Its zinc operations include the Red Dog mine in Alaska and the Trail Operations metallurgical complex in British Columbia, which produces refined metals, alloys and other related products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.