Teck Resources Ltd $TECK Position Boosted by Moerus Capital Management LLC

Key Points

• Moerus Capital Management LLC increased its stake in Teck Resources Ltd by 56.1%, owning 115,062 shares worth approximately $4.19 million, making it the firm's 10th largest holding.
• Teck Resources reported a Q2 earnings per share (EPS) of $0.27, surpassing the consensus estimate of $0.20, though its revenue of $1.49 billion fell short of expectations of $2.25 billion.
• The company announced a slight increase in its quarterly dividend to $0.0918 per share, with a new annualized dividend yield of 1.1% while maintaining a high dividend payout ratio of 94.74%.

Moerus Capital Management LLC raised its position in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 56.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,062 shares of the basic materials company's stock after acquiring an additional 41,350 shares during the quarter. Teck Resources makes up approximately 1.9% of Moerus Capital Management LLC's portfolio, making the stock its 10th biggest position. Moerus Capital Management LLC's holdings in Teck Resources were worth $4,192,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Costello Asset Management INC acquired a new position in shares of Teck Resources during the first quarter worth about $33,000. Banque Cantonale Vaudoise purchased a new stake in Teck Resources during the first quarter worth approximately $36,000. Golden State Wealth Management LLC lifted its stake in Teck Resources by 7,560.0% in 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. purchased a new stake in Teck Resources in the fourth quarter valued at approximately $50,000. Finally, Bruce G. Allen Investments LLC lifted its stake in Teck Resources by 104.8% in 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 buying an additional 837 shares during the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on TECK shares. Cibc World Mkts cut Teck Resources from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. CIBC lowered Teck Resources from a "sector outperform" rating to a "neutral" rating in a report on Friday, July 25th. National Bankshares raised Teck Resources from a "sector perform" rating to an "outperform" rating in a report on Thursday, April 24th. Royal Bank Of Canada lowered their target price on Teck Resources from $82.00 to $67.00 and set an "outperform" rating on the stock in a report on Friday, July 25th. Finally, Stifel Canada upgraded Teck Resources to a "hold" rating in a research report on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $60.11.

Teck Resources Trading Down 0.7%

NYSE TECK traded down $0.2150 during trading hours on Tuesday, hitting $31.4150. 1,049,606 shares of the company's stock were exchanged, compared to its average volume of 3,746,562. The business's 50 day moving average is $36.71 and its 200-day moving average is $37.43. Teck Resources Ltd has a 12-month low of $28.32 and a 12-month high of $54.13. The firm has a market capitalization of $15.18 billion, a P/E ratio of 82.66, a price-to-earnings-growth ratio of 0.51 and a beta of 0.81. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.45 and a current ratio of 3.47.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its earnings results on Thursday, July 24th. The basic materials company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.07. The firm had revenue of $1.49 billion for 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 firm's revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.79 earnings per share. As a group, analysts anticipate that Teck Resources Ltd will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The company 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 $0.0918 dividend. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. The ex-dividend date is Monday, September 15th. This represents a $0.37 dividend on an annualized basis and a dividend yield of 1.2%. Teck Resources's dividend payout ratio (DPR) is 94.74%.

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.