Ninety One UK Ltd Has $59.77 Million Stock Holdings in Teck Resources Ltd $TECK

Key Points

• Ninety One UK Ltd increased its stake in Teck Resources Ltd by 436.6% to 1,480,334 shares, valued at approximately $59.77 million.
• Teck Resources reported earnings of $0.27 EPS for the last quarter, exceeding analyst expectations of $0.20, but revenue missed at $1.49 billion compared to the expected $2.25 billion.
• The company recently raised its quarterly dividend to $0.0918, representing an annualized yield of 0.8%, with a dividend payout ratio of 94.74%.

Ninety One UK Ltd grew its stake in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 436.6% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 1,480,334 shares of the basic materials company's stock after acquiring an additional 1,204,440 shares during the quarter. Ninety One UK Ltd owned about 0.31% of Teck Resources worth $59,768,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of TECK. Union Bancaire Privee UBP SA lifted its position in Teck Resources by 4.3% during the second quarter. Union Bancaire Privee UBP SA now owns 6,402 shares of the basic materials company's stock worth $259,000 after purchasing an additional 264 shares during the period. Klein Pavlis & Peasley Financial Inc. raised its position in shares of Teck Resources by 9.8% in the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 46,783 shares of the basic materials company's stock valued at $1,889,000 after buying an additional 4,183 shares in the last quarter. Signaturefd LLC raised its position in shares of Teck Resources by 21.4% in the 2nd quarter. Signaturefd LLC now owns 21,560 shares of the basic materials company's stock valued at $871,000 after buying an additional 3,798 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Teck Resources by 8.0% during the 2nd quarter. Fifth Third Bancorp now owns 8,314 shares of the basic materials company's stock worth $336,000 after acquiring an additional 616 shares during the period. Finally, Park Avenue Securities LLC boosted its position in shares of Teck Resources by 29.3% during the 2nd quarter. Park Avenue Securities LLC now owns 19,802 shares of the basic materials company's stock worth $800,000 after acquiring an additional 4,489 shares in the last quarter. Institutional investors own 78.06% of the company's stock.

Teck Resources Trading Down 0.5%

NYSE TECK opened at $43.86 on Wednesday. The company has a quick ratio of 2.45, a current ratio of 3.47 and a debt-to-equity ratio of 0.15. Teck Resources Ltd has a twelve month low of $28.32 and a twelve month high of $52.98. The company has a market cap of $21.07 billion, a price-to-earnings ratio of 115.42, a price-to-earnings-growth ratio of 0.65 and a beta of 0.78. The business's fifty day moving average is $35.54 and its 200 day moving average is $36.54.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its earnings results on Thursday, July 24th. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.07. The business had revenue of $1.49 billion during the quarter, compared to analysts' expectations of $2.25 billion. Teck Resources had a return on equity of 3.91% and a net margin of 2.51%.During the same quarter in the prior year, the firm earned $0.79 EPS. The business's revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, sell-side analysts expect that Teck Resources Ltd will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were issued a $0.0918 dividend. This is a boost from Teck Resources's previous quarterly dividend of $0.09. The ex-dividend date was Monday, September 15th. This represents a $0.37 dividend on an annualized basis and a yield of 0.8%. Teck Resources's dividend payout ratio (DPR) is 94.74%.

Analyst Ratings Changes

TECK has been the topic of a number of recent analyst reports. Cibc World Mkts cut shares of Teck Resources from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. Desjardins lowered Teck Resources from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Stifel Nicolaus began coverage on Teck Resources in a research report on Wednesday, July 9th. They set a "hold" rating for the company. Scotiabank reaffirmed an "outperform" rating on shares of Teck Resources in a research note on Wednesday, September 10th. Finally, B. Riley downgraded Teck Resources from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat, Teck Resources has an average rating of "Moderate Buy" and a consensus price target of $56.88.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.