Nykredit A S Makes New $4.34 Million Investment in Teck Resources Ltd $TECK

Key Points

• Nykredit A/S acquired 72,862 Teck Resources shares during the second quarter, valued at approximately $4.34 million. Institutional investors collectively own 78.06% of the company.
• Teck Resources reported quarterly EPS of $1.35, exceeding estimates of $0.95, while revenue rose 78.2% year over year to $2.54 billion. The company also declared a quarterly dividend of $0.125 per share.
• Analyst sentiment remains mixed, with six Buy ratings and seven Hold ratings; the stock has an average consensus rating of “Hold” and a price target of $62.25.

Nykredit A S bought a new stake in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 72,862 shares of the basic materials company's stock, valued at approximately $4,338,000.

A number of other large investors have also recently bought and sold shares of TECK. Principal Financial Group Inc. grew its holdings in shares of Teck Resources by 17.1% in the 1st quarter. Principal Financial Group Inc. now owns 22,044,284 shares of the basic materials company's stock worth $1,139,051,000 after purchasing an additional 3,211,985 shares during the last quarter. Hancock Prospecting Pty Ltd boosted its holdings in Teck Resources by 31.7% in the fourth quarter. Hancock Prospecting Pty Ltd now owns 10,298,293 shares of the basic materials company's stock valued at $493,185,000 after acquiring an additional 2,477,344 shares during the last quarter. Norges Bank bought a new stake in shares of Teck Resources during the fourth quarter worth approximately $404,880,000. Mackenzie Financial Corp grew its holdings in Teck Resources by 6.9% during the 4th quarter. Mackenzie Financial Corp now owns 8,258,250 shares of the basic materials company's stock worth $395,101,000 after acquiring an additional 536,396 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of Teck Resources by 11.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 7,939,413 shares of the basic materials company's stock worth $380,218,000 after purchasing an additional 836,879 shares during the period. 78.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on TECK shares. 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. JPMorgan Chase & Co. increased their price objective on Teck Resources from $46.00 to $47.00 and gave the stock a "neutral" rating in a report on Tuesday, July 28th. Veritas lowered shares of Teck Resources from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 4th. Scotiabank reaffirmed a "sector perform" rating on shares of Teck Resources in a research report on Monday, June 15th. Finally, Raymond James Financial upgraded shares of Teck Resources from a "market perform" rating to an "outperform" rating in a research note on Thursday, July 23rd. Six equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $62.25.

Teck Resources Price Performance

NYSE:TECK opened at $69.05 on Monday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.33 and a current ratio of 3.12. Teck Resources Ltd has a 52 week low of $33.24 and a 52 week high of $71.93. The firm's 50-day simple moving average is $62.80 and its 200 day simple moving average is $59.99. The firm has a market cap of $33.35 billion, a price-to-earnings ratio of 18.71, a P/E/G ratio of 2.49 and a beta of 0.94.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $1.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.40. The business had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.38 billion. Teck Resources had a return on equity of 10.42% and a net margin of 17.85%.The firm's quarterly revenue was up 78.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.38 earnings per share. As a group, sell-side analysts predict that Teck Resources Ltd will post 3.48 earnings per share for the current year.

Teck Resources Announces Dividend

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

About Teck Resources

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company's operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.

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