Legacy Capital Wealth Partners LLC acquired a new stake in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 6,800 shares of the basic materials company's stock, valued at approximately $248,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its holdings in shares of Teck Resources by 2.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,632 shares of the basic materials company's stock valued at $471,000 after purchasing an additional 243 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in Teck Resources by 2.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 13,959 shares of the basic materials company's stock worth $566,000 after purchasing an additional 302 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in Teck Resources by 2.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 13,511 shares of the basic materials company's stock worth $548,000 after buying an additional 335 shares during the last quarter. Vontobel Holding Ltd. raised its holdings in Teck Resources by 0.5% during the first quarter. Vontobel Holding Ltd. now owns 88,303 shares of the basic materials company's stock valued at $3,217,000 after buying an additional 400 shares in the last quarter. Finally, Ervin Investment Management LLC lifted its position in shares of Teck Resources by 5.1% in the first quarter. Ervin Investment Management LLC now owns 10,980 shares of the basic materials company's stock worth $400,000 after buying an additional 535 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company's stock.
Teck Resources Stock Performance
TECK stock traded down $0.50 on Friday, reaching $37.55. 2,475,706 shares of the company were exchanged, compared to its average volume of 3,243,961. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.36 and a quick ratio of 2.57. Teck Resources Ltd has a 12 month low of $28.32 and a 12 month high of $54.13. The stock's fifty day moving average price is $38.21 and its 200 day moving average price is $38.73. The firm has a market capitalization of $18.14 billion, a PE ratio of 64.74, a PEG ratio of 0.59 and a beta of 0.80.
Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its quarterly earnings data on Thursday, April 24th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.18. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $2.19 billion. Teck Resources had a net margin of 3.48% and a return on equity of 4.53%. The business's revenue was up 41.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.75 EPS. On average, research analysts anticipate that Teck Resources Ltd will post 1.53 EPS for the current fiscal year.
Teck Resources Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were paid a dividend of $0.0901 per share. This represents a $0.36 annualized dividend and a yield of 0.96%. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. The ex-dividend date was Monday, June 16th. Teck Resources's payout ratio is currently 62.07%.
Analyst Upgrades and Downgrades
TECK has been the topic of a number of analyst reports. Desjardins lowered Teck Resources from a "buy" rating to a "hold" rating in a report on Friday. National Bankshares raised Teck Resources from a "sector perform" rating to an "outperform" rating in a research report on Thursday, April 24th. National Bank Financial upgraded Teck Resources from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 24th. Veritas raised shares of Teck Resources to a "hold" rating in a research report on Friday, April 11th. Finally, BMO Capital Markets began coverage on shares of Teck Resources in a report on Wednesday, April 16th. They set an "outperform" rating for the company. Nine investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $60.75.
Check Out Our Latest 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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