LPL Financial LLC Has $5.84 Million Stock Holdings in Teck Resources Ltd (NYSE:TECK)

Key Points

• LPL Financial LLC increased its stake in Teck Resources Ltd by 5.2% in Q1, now holding 160,256 shares valued at approximately $5.84 million.
• Teck Resources recently declared a quarterly dividend of $0.0918, reflecting a slight increase from the previous dividend, with a 1.1% yield.
• The firm's recent earnings per share (EPS) for the last quarter was $0.27, exceeding analysts’ expectations, despite revenue being below estimation at $1.49 billion.

LPL Financial LLC boosted its stake in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 5.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 160,256 shares of the basic materials company's stock after purchasing an additional 7,929 shares during the quarter. LPL Financial LLC's holdings in Teck Resources were worth $5,838,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of TECK. Golden State Wealth Management LLC grew 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 valued at $42,000 after buying an additional 1,134 shares during the last quarter. Ameriflex Group Inc. acquired a new position in shares of Teck Resources during the fourth quarter valued at about $50,000. Bruce G. Allen Investments LLC lifted its position 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 valued at $60,000 after purchasing an additional 837 shares in the last quarter. Altshuler Shaham Ltd bought a new position in shares of Teck Resources during the fourth quarter valued at about $70,000. Finally, Parallel Advisors LLC lifted its position in shares of Teck Resources by 49.3% during the first quarter. Parallel Advisors LLC now owns 3,457 shares of the basic materials company's stock valued at $126,000 after purchasing an additional 1,141 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Stock Performance

NYSE TECK opened at $32.53 on Wednesday. The company's 50 day moving average is $37.20 and its 200-day moving average is $37.71. Teck Resources Ltd has a 12-month low of $28.32 and a 12-month high of $54.13. The company has a quick ratio of 2.45, a current ratio of 3.47 and a debt-to-equity ratio of 0.15. The firm has a market cap of $15.71 billion, a P/E ratio of 85.61, a price-to-earnings-growth ratio of 0.51 and a beta of 0.81.

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 (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.07. Teck Resources had a net margin of 2.51% and a return on equity of 3.91%. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same quarter in the previous year, the firm posted $0.79 earnings per share. The company's quarterly revenue was up 12.3% compared to the same quarter last year. Sell-side analysts predict that Teck Resources Ltd will post 1.53 earnings per share for the current year.

Teck Resources Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TECK. Stifel Canada raised shares of Teck Resources to a "hold" rating in a research report on Tuesday, July 8th. Wall Street Zen raised shares of Teck Resources from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. National Bank Financial raised shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $41.00 price target (down from $46.00) on shares of Teck Resources in a research report on Friday, July 25th. Finally, Cibc World Mkts lowered shares of Teck Resources from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. Thirteen equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock 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.

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