MQS Management LLC Makes New $475,000 Investment in Teck Resources Ltd (NYSE:TECK)

MQS Management LLC purchased 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 disclosure with the SEC. The institutional investor purchased 13,032 shares of the basic materials company's stock, valued at approximately $475,000.

Several other institutional investors and hedge funds have also bought and sold shares of TECK. Sequoia Financial Advisors LLC increased its stake in shares of Teck Resources by 5.6% during the first quarter. Sequoia Financial Advisors LLC now owns 10,354 shares of the basic materials company's stock valued at $377,000 after buying an additional 545 shares during the period. Golden State Wealth Management LLC boosted its holdings 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 acquiring an additional 1,134 shares in the last quarter. Pictet Asset Management Holding SA increased its position in Teck Resources by 102.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 309,987 shares of the basic materials company's stock valued at $12,563,000 after purchasing an additional 156,980 shares during the period. Cetera Investment Advisers increased its position in Teck Resources by 20.6% during the 4th quarter. Cetera Investment Advisers now owns 57,793 shares of the basic materials company's stock valued at $2,342,000 after purchasing an additional 9,887 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its holdings in Teck Resources by 22.6% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 12,141 shares of the basic materials company's stock worth $442,000 after purchasing an additional 2,240 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company's stock.

Teck Resources Stock Up 0.1%

Teck Resources stock traded up $0.05 during mid-day trading on Monday, hitting $38.36. The company had a trading volume of 2,245,045 shares, compared to its average volume of 3,549,063. Teck Resources Ltd has a 12 month low of $28.32 and a 12 month high of $54.13. The company has a market capitalization of $18.53 billion, a PE ratio of 66.15, a price-to-earnings-growth ratio of 0.60 and a beta of 0.80. The stock's 50 day moving average price is $37.92 and its two-hundred day moving average price is $38.80. The company has a current ratio of 3.36, a quick ratio of 2.57 and a debt-to-equity ratio of 0.15.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its quarterly earnings results on Thursday, April 24th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.18. Teck Resources had a net margin of 3.48% and a return on equity of 4.53%. The company had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $2.19 billion. During the same quarter in the previous year, the business posted $0.75 EPS. Teck Resources's revenue was up 41.4% compared to the same quarter last year. As a group, 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 company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were paid a $0.0901 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.94%. The ex-dividend date was Monday, June 16th. This is an increase from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's dividend payout ratio is currently 62.07%.

Analyst Upgrades and Downgrades

TECK has been the topic of a number of research reports. JPMorgan Chase & Co. lifted their target price on shares of Teck Resources from $41.00 to $46.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. BMO Capital Markets assumed coverage on Teck Resources in a research report on Wednesday, April 16th. They set an "outperform" rating on the stock. Stifel Canada upgraded Teck Resources to a "hold" rating in a report on Tuesday, July 8th. National Bank Financial raised Teck Resources from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. Finally, UBS Group restated a "neutral" rating on shares of Teck Resources in a research report on Tuesday, April 15th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $63.14.

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.