Pekin Hardy Strauss Inc. Has $1.88 Million Stock Position in Teck Resources Ltd (NYSE:TECK)

Pekin Hardy Strauss Inc. decreased its stake in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 38.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,490 shares of the basic materials company's stock after selling 32,544 shares during the period. Pekin Hardy Strauss Inc.'s holdings in Teck Resources were worth $1,876,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Teck Resources by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 19,316,132 shares of the basic materials company's stock valued at $783,153,000 after acquiring an additional 58,985 shares during the period. Norges Bank acquired a new position in Teck Resources during the fourth quarter worth about $470,101,000. Principal Financial Group Inc. increased its position in Teck Resources by 56.9% during the 1st quarter. Principal Financial Group Inc. now owns 11,530,742 shares of the basic materials company's stock worth $419,970,000 after purchasing an additional 4,180,623 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Teck Resources by 4.7% in the 4th quarter. Invesco Ltd. now owns 7,711,727 shares of the basic materials company's stock valued at $312,556,000 after acquiring an additional 347,235 shares during the last quarter. Finally, TD Asset Management Inc. boosted its stake in shares of Teck Resources by 0.7% during the fourth quarter. TD Asset Management Inc. now owns 5,973,390 shares of the basic materials company's stock valued at $242,059,000 after purchasing an additional 41,081 shares in the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Teck Resources Price Performance

Shares of TECK stock opened at $41.38 on Monday. Teck Resources Ltd has a 52-week low of $28.32 and a 52-week high of $54.13. The firm has a market capitalization of $20.11 billion, a P/E ratio of 71.34, a P/E/G ratio of 0.62 and a beta of 0.80. The stock has a 50 day moving average price of $37.51 and a 200 day moving average price of $38.87. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.57 and a current ratio of 3.36.

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 for the quarter, topping the consensus estimate of $0.24 by $0.18. Teck Resources had a net margin of 3.48% and a return on equity of 4.53%. The firm had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $2.19 billion. During the same quarter in the prior year, the company earned $0.75 EPS. The company's revenue was up 41.4% compared to the same quarter last year. As a group, sell-side analysts predict that Teck Resources Ltd will post 1.53 earnings per share for the current year.

Teck Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were issued a $0.0901 dividend. This represents a $0.36 annualized dividend and a yield of 0.87%. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Monday, June 16th. Teck Resources's dividend payout ratio is presently 62.07%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TECK shares. Veritas upgraded Teck Resources to a "hold" rating in a report on Friday, April 11th. JPMorgan Chase & Co. reduced their target price on shares of Teck Resources from $50.00 to $41.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Desjardins started coverage on Teck Resources in a research report on Friday, April 4th. They set a "buy" rating for the company. National Bank Financial upgraded shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th. Finally, BMO Capital Markets initiated coverage on Teck Resources in a research note on Wednesday, April 16th. They issued an "outperform" rating on the stock. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $64.63.

Teck Resources 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.

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