K.J. Harrison & Partners Inc lowered its stake in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 46.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,020 shares of the basic materials company's stock after selling 75,000 shares during the period. K.J. Harrison & Partners Inc's holdings in Teck Resources were worth $3,173,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Community Bank N.A. acquired a new position in shares of Teck Resources during the fourth quarter worth $33,000. Golden State Wealth Management LLC lifted its holdings in shares of 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 worth $42,000 after purchasing an additional 1,134 shares during the period. Ameriflex Group Inc. acquired a new position in shares of Teck Resources during the fourth quarter worth $50,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Teck Resources during the fourth quarter worth $55,000. Finally, Bruce G. Allen Investments LLC lifted its holdings in shares of 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 worth $60,000 after purchasing an additional 837 shares during the period. Institutional investors and hedge funds own 78.06% of the company's stock.
Teck Resources Trading Down 2.3%
TECK opened at $40.54 on Friday. Teck Resources Ltd has a 1-year low of $28.32 and a 1-year high of $54.13. The company has a current ratio of 3.36, a quick ratio of 2.57 and a debt-to-equity ratio of 0.15. The company has a market cap of $19.70 billion, a P/E ratio of 69.90, a price-to-earnings-growth ratio of 0.60 and a beta of 0.79. The company has a fifty day moving average price of $36.87 and a two-hundred day moving average price of $38.94.
Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its quarterly earnings results on Thursday, April 24th. The basic materials company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.18. Teck Resources had a net margin of 3.48% and a return on equity of 4.53%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same period in the previous year, the firm posted $0.75 earnings per share. The business's revenue was up 41.4% compared to the same quarter last year. Analysts predict that Teck Resources Ltd will post 1.53 EPS for the current fiscal year.
Teck Resources Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a $0.0901 dividend. This is an increase from Teck Resources's previous quarterly dividend of $0.09. This represents a $0.36 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Monday, June 16th. Teck Resources's payout ratio is 62.07%.
Analyst Ratings Changes
A number of brokerages have recently commented on TECK. Desjardins began coverage on shares of Teck Resources in a report on Friday, April 4th. They set a "buy" rating on the stock. Bank of America lifted their price target on shares of Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a report on Monday, March 10th. BMO Capital Markets began coverage on shares of Teck Resources in a report on Wednesday, April 16th. They set an "outperform" rating on the stock. National Bank Financial upgraded shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. cut their price target on shares of Teck Resources from $50.00 to $41.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $64.63.
View Our Latest Research Report on Teck Resources
About Teck Resources
(
Free Report)
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.
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