Quantbot Technologies LP Buys 214,557 Shares of Teck Resources Ltd $TECK

Key Points

• Quantbot Technologies LP significantly increased its stake in Teck Resources Ltd by 390.3%, acquiring an additional 214,557 shares, bringing its total ownership to approximately 269,528 shares valued at $9.8 million.
• Teck Resources recently declared a quarterly dividend of $0.0918, an increase from its previous dividend of $0.09, with an annual yield of 1.1%.
• Analysts have mixed ratings for Teck Resources, with thirteen holding a "hold" rating, seven giving it a "buy" rating, and one a "strong buy," amid changes in price targets and recommendations from various financial institutions.

Quantbot Technologies LP grew its holdings in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 390.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 269,528 shares of the basic materials company's stock after purchasing an additional 214,557 shares during the quarter. Quantbot Technologies LP owned about 0.05% of Teck Resources worth $9,819,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in TECK. Costello Asset Management INC bought a new position in Teck Resources during the first quarter worth about $33,000. Banque Cantonale Vaudoise bought a new position in Teck Resources in the 1st quarter valued at $36,000. Golden State Wealth Management LLC raised its position in shares of Teck Resources by 7,560.0% during the 1st 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 during the last quarter. Ameriflex Group Inc. bought a new stake in shares of Teck Resources during the 4th quarter valued at $50,000. Finally, Bruce G. Allen Investments LLC raised its position in shares of Teck Resources by 104.8% during the 1st quarter. Bruce G. Allen Investments LLC now owns 1,636 shares of the basic materials company's stock valued at $60,000 after acquiring an additional 837 shares during the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $41.00 price target (down previously from $46.00) on shares of Teck Resources in a report on Friday, July 25th. Morgan Stanley downgraded shares of Teck Resources from an "overweight" rating to an "equal weight" rating and increased their price objective for the stock from $42.00 to $44.00 in a research note on Tuesday, July 15th. 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. Wall Street Zen raised shares of Teck Resources from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Finally, B. Riley cut shares of Teck Resources from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $60.11.

Teck Resources Trading Up 5.8%

Shares of NYSE:TECK traded up $1.84 during mid-day trading on Friday, reaching $33.60. 4,897,487 shares of the company's stock were exchanged, compared to its average volume of 3,748,300. The firm has a market capitalization of $16.23 billion, a price-to-earnings ratio of 88.42, a PEG ratio of 0.49 and a beta of 0.81. The business's fifty day moving average price is $36.29 and its 200-day moving average price is $37.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.45 and a current ratio of 3.47. Teck Resources Ltd has a twelve month low of $28.32 and a twelve month high of $54.13.

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

Teck Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be paid a dividend of $0.0918 per share. This is a boost from Teck Resources's previous quarterly dividend of $0.09. This represents a $0.37 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Monday, September 15th. Teck Resources's payout ratio is 94.74%.

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.