Teck Resources Ltd (NYSE:TECK) Holdings Increased by RWC Asset Management LLP

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

A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Teck Resources by 0.3% during 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 purchasing an additional 58,985 shares in the last quarter. Norges Bank acquired a new stake in Teck Resources during the 4th quarter valued at $470,101,000. Principal Financial Group Inc. grew its holdings 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 valued at $419,970,000 after purchasing an additional 4,180,623 shares in the last quarter. Invesco Ltd. grew its holdings in Teck Resources by 4.7% during the 4th quarter. Invesco Ltd. now owns 7,711,727 shares of the basic materials company's stock valued at $312,556,000 after purchasing an additional 347,235 shares in the last quarter. Finally, TD Asset Management Inc grew its holdings in Teck Resources by 0.6% during the 1st quarter. TD Asset Management Inc now owns 6,006,865 shares of the basic materials company's stock valued at $218,781,000 after purchasing an additional 33,475 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company's stock.

Analyst Upgrades and Downgrades

TECK has been the subject of a number of recent analyst reports. CIBC lowered shares of Teck Resources from a "sector outperform" rating to a "neutral" rating in a report on Friday. B. Riley lowered shares of Teck Resources from a "buy" rating to a "neutral" rating in a report on Monday. Desjardins lowered shares of Teck Resources from a "buy" rating to a "hold" rating in a report on Friday, July 18th. Benchmark decreased their price objective on shares of Teck Resources from $55.00 to $48.00 and set a "buy" rating for the company in a report on Monday. Finally, National Bank Financial raised shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 24th. Thirteen equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $60.11.

Teck Resources Stock Performance

NYSE:TECK traded up $0.77 during mid-day trading on Monday, hitting $33.77. The stock had a trading volume of 9,070,350 shares, compared to its average volume of 4,764,063. The stock has a market capitalization of $16.31 billion, a price-to-earnings ratio of 88.87, a P/E/G ratio of 0.52 and a beta of 0.80. The company has a 50 day simple moving average of $38.17 and a 200-day simple moving average of $38.54. Teck Resources Ltd has a 52 week low of $28.32 and a 52 week high of $54.13. The company has a current ratio of 3.36, a quick ratio of 2.57 and a debt-to-equity ratio of 0.15.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released 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 3.87%. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same period in the previous year, the firm earned $0.79 EPS. Teck Resources's revenue was up 12.3% on a year-over-year basis. On average, research analysts expect that Teck Resources Ltd will post 1.53 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be given a dividend of $0.0918 per share. This represents a $0.37 dividend on an annualized basis and a dividend yield of 1.09%. This is an increase from Teck Resources's previous quarterly dividend of $0.09. 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.