Kapitalo Investimentos Ltda Has $12.23 Million Stock Position in Teck Resources Ltd $TECK

Key Points

• Kapitalo Investimentos Ltda has reduced its position in Teck Resources by 50.5%, now holding 302,859 shares after selling off 308,840 shares in the second quarter.
• Teck Resources reported an EPS of $0.27 for the last quarter, exceeding analyst expectations, while revenues were $1.49 billion, below the consensus estimate of $2.25 billion.
• The company has announced an increase in its quarterly dividend to $0.0918, payable on September 29th, reflecting a commitment to return value to its shareholders.

Kapitalo Investimentos Ltda reduced its position in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 50.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 302,859 shares of the basic materials company's stock after selling 308,840 shares during the period. Teck Resources makes up approximately 2.7% of Kapitalo Investimentos Ltda's portfolio, making the stock its 10th largest position. Kapitalo Investimentos Ltda owned about 0.06% of Teck Resources worth $12,229,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Tidal Investments LLC acquired a new stake in shares of Teck Resources in the fourth quarter valued at about $1,162,000. Two Sigma Investments LP raised its stake in shares of Teck Resources by 6.5% during the 4th quarter. Two Sigma Investments LP now owns 117,502 shares of the basic materials company's stock worth $4,762,000 after purchasing an additional 7,200 shares in the last quarter. Two Sigma Advisers LP raised its position in shares of Teck Resources by 54.7% in the fourth quarter. Two Sigma Advisers LP now owns 157,300 shares of the basic materials company's stock valued at $6,375,000 after purchasing an additional 55,600 shares during the period. Vise Technologies Inc. raised its stake in Teck Resources by 14.6% during the 4th quarter. Vise Technologies Inc. now owns 5,942 shares of the basic materials company's stock valued at $241,000 after purchasing an additional 757 shares during the last quarter. Finally, Ameriflex Group Inc. acquired a new position in Teck Resources in the fourth quarter worth about $50,000. Institutional investors and hedge funds own 78.06% of the company's stock.

Teck Resources Price Performance

NYSE:TECK traded down $0.51 during trading hours on Monday, reaching $38.73. 4,743,223 shares of the company were exchanged, compared to its average volume of 7,363,052. Teck Resources Ltd has a twelve month low of $28.32 and a twelve month high of $54.13. The firm has a market cap of $18.60 billion, a PE ratio of 101.93, a price-to-earnings-growth ratio of 0.58 and a beta of 0.78. The stock's 50-day moving average is $35.12 and its 200-day moving average is $36.45. The company has a current ratio of 3.47, a quick ratio of 2.45 and a debt-to-equity ratio of 0.15.

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

Teck Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.0918 per share. This represents a $0.37 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Monday, September 15th. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's payout ratio is presently 94.74%.

Wall Street Analyst Weigh In

Several research firms have weighed in on TECK. Morgan Stanley lowered Teck Resources from an "overweight" rating to an "equal weight" rating and increased their target price for the company from $42.00 to $44.00 in a research note on Tuesday, July 15th. UBS Group raised shares of Teck Resources from a "neutral" rating to a "buy" rating in a report on Wednesday, September 3rd. Scotiabank reaffirmed an "outperform" rating on shares of Teck Resources in a research note on Wednesday, September 10th. Wall Street Zen upgraded Teck Resources from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Benchmark dropped their target price 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. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $56.88.

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.