Nykredit A S Makes New $4.08 Million Investment in Teck Resources Ltd $TECK

Key Points

• Nykredit A/S acquired 68,462 shares of Teck Resources in the second quarter, worth approximately $4.08 million. Institutional investors collectively own 78.06% of the company.
• Teck Resources reported strong quarterly results, with $1.35 in EPS versus the $0.95 consensus estimate and revenue of $2.54 billion, up 78.2% year over year.
• The company declared a quarterly dividend of $0.125 per share, or $0.50 annualized, yielding approximately 0.7%. Analysts maintain a consensus “Hold” rating with a $62.25 price target, below the reported share price of $68.87.

Nykredit A S bought a new position in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 68,462 shares of the basic materials company's stock, valued at approximately $4,076,000.

Other institutional investors have also made changes to their positions in the company. Blue Trust Inc. raised its stake in Teck Resources by 411.8% during the first quarter. Blue Trust Inc. now owns 563 shares of the basic materials company's stock worth $29,000 after acquiring an additional 453 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Teck Resources by 117.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 561 shares of the basic materials company's stock worth $29,000 after purchasing an additional 303 shares during the last quarter. Oslo Pensjonsforsikring AS bought a new stake in shares of Teck Resources in the 1st quarter worth approximately $83,000. Versant Capital Management Inc lifted its holdings in shares of Teck Resources by 86.5% in the 2nd quarter. Versant Capital Management Inc now owns 1,587 shares of the basic materials company's stock worth $94,000 after purchasing an additional 736 shares during the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new position in Teck Resources during the 4th quarter valued at approximately $151,000. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Price Performance

Shares of NYSE TECK opened at $68.87 on Wednesday. The firm's 50-day simple moving average is $64.69 and its 200 day simple moving average is $60.70. The stock has a market cap of $33.26 billion, a P/E ratio of 18.66, a P/E/G ratio of 2.07 and a beta of 0.94. The company has a quick ratio of 2.33, a current ratio of 3.12 and a debt-to-equity ratio of 0.12. Teck Resources Ltd has a fifty-two week low of $38.00 and a fifty-two week high of $72.56.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its earnings results on Thursday, July 23rd. The basic materials company reported $1.35 EPS for the quarter, beating the consensus estimate of $0.95 by $0.40. Teck Resources had a net margin of 17.85% and a return on equity of 10.42%. The firm had revenue of $2.54 billion for the quarter, compared to analysts' expectations of $2.38 billion. During the same quarter last year, the company earned $0.38 EPS. Teck Resources's quarterly revenue was up 78.2% on a year-over-year basis. Equities analysts expect that Teck Resources Ltd will post 4.03 EPS for the current year.

Teck Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Tuesday, September 15th. Teck Resources's dividend payout ratio is 9.76%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TECK. Veritas downgraded shares of Teck Resources from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 4th. JPMorgan Chase & Co. increased their price objective on shares of Teck Resources from $46.00 to $47.00 and gave the stock a "neutral" rating in a report on Tuesday, July 28th. Weiss Ratings raised shares of Teck Resources from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, August 4th. Scotiabank restated a "sector perform" rating on shares of Teck Resources in a research note on Monday, June 15th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Teck Resources from $64.00 to $68.00 and gave the company a "buy" rating in a research note on Thursday, July 2nd. Six equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $62.25.

About Teck Resources

Teck Resources Limited is a Canadian mining and metals company focused primarily on the exploration, development and production of base metals. Its principal products include copper, zinc and lead, along with associated by-products such as molybdenum, silver and germanium. Copper is an increasingly important part of Teck's business as the metal is used in electrical infrastructure, renewable energy systems, transportation and industrial applications.

Teck operates and develops mining assets in Canada, Chile and Peru.

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