RWC Asset Management LLP Buys 22,402 Shares of Teck Resources Ltd (NYSE:TECK)

Key Points

• RWC Asset Management LLP increased its stake in Teck Resources by 7.0%, acquiring an additional 22,402 shares, bringing its total ownership to 342,249 shares valued at approximately $12.47 million.
• Teck Resources reported a quarterly earnings per share (EPS) of $0.27, exceeding analyst estimates of $0.20, and the company also achieved a 12.3% year-over-year revenue increase.
• The company declared a quarterly dividend of $0.0918 per share, which represents a slight increase from its previous dividend, with an annual yield of 1.11% and a payout ratio of 94.74%.

RWC Asset Management LLP lifted its stake in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 7.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 342,249 shares of the basic materials company's stock after purchasing an additional 22,402 shares during the quarter. RWC Asset Management LLP owned 0.07% of Teck Resources worth $12,468,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in TECK. Golden State Wealth Management LLC grew its stake in shares of Teck Resources by 7,560.0% in 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 purchasing an additional 1,134 shares during the period. Ameriflex Group Inc. acquired a new stake in shares of Teck Resources in the fourth quarter valued at approximately $50,000. Pilgrim Partners Asia Pte Ltd bought a new position in Teck Resources in the 4th quarter worth approximately $55,000. Bruce G. Allen Investments LLC boosted its holdings in Teck Resources by 104.8% in the first 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. Finally, Altshuler Shaham Ltd acquired a new position in Teck Resources during the 4th quarter valued at about $70,000. Institutional investors own 78.06% of the company's stock.

Teck Resources Stock Up 0.7%

Shares of TECK traded up $0.22 during trading hours on Thursday, reaching $32.35. The stock had a trading volume of 3,099,542 shares, compared to its average volume of 3,803,045. The firm has a 50-day simple moving average of $38.07 and a 200 day simple moving average of $38.44. Teck Resources Ltd has a 12 month low of $28.32 and a 12 month high of $54.13. The company has a current ratio of 3.47, a quick ratio of 2.57 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $15.63 billion, a price-to-earnings ratio of 84.82, a P/E/G ratio of 0.52 and a beta of 0.80.

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

Teck Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be given a $0.0918 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.37 annualized dividend and a yield of 1.13%. This is a boost from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's payout ratio is currently 94.74%.

Wall Street Analysts Forecast Growth

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. National Bankshares raised shares of Teck Resources from a "sector perform" rating to an "outperform" rating in a research report on Thursday, April 24th. Royal Bank Of Canada decreased their price target on shares of Teck Resources from $82.00 to $67.00 and set an "outperform" rating on the stock in a research note on Friday, July 25th. Wall Street Zen upgraded shares of Teck Resources from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Veritas upgraded shares of Teck Resources to a "hold" rating in a research report on Friday, April 11th. Thirteen research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Teck Resources presently has an average rating of "Hold" and an average price target of $60.11.

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.