Sciencast Management LP Makes New $2.59 Million Investment in Teck Resources Ltd $TECK

Key Points

• Sciencast Management LP has invested approximately $2.59 million in Teck Resources Ltd, acquiring 71,011 shares during the first quarter.
• Teck Resources recently increased its quarterly dividend from $0.09 to $0.0918 per share, reflecting a 1.1% dividend yield.
• The company's latest earnings report indicated EPS of $0.27, exceeding analyst expectations of $0.20, with a revenue of $1.49 billion for the quarter.

Sciencast Management LP bought a new position in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 71,011 shares of the basic materials company's stock, valued at approximately $2,587,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Smartleaf Asset Management LLC increased its position in shares of Teck Resources by 69.2% during the 1st quarter. Smartleaf Asset Management LLC now owns 856 shares of the basic materials company's stock valued at $32,000 after purchasing an additional 350 shares during the last quarter. Costello Asset Management INC purchased a new stake in shares of Teck Resources during the 1st quarter valued at $33,000. Banque Cantonale Vaudoise purchased a new stake in shares of Teck Resources during the 1st quarter valued at $36,000. Golden State Wealth Management LLC increased 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 purchasing an additional 1,134 shares during the last quarter. Finally, Ameriflex Group Inc. purchased a new stake in shares of Teck Resources during the 4th quarter valued at $50,000. 78.06% of the stock is owned by hedge funds and other institutional investors.

Teck Resources Stock Performance

Shares of TECK opened at $34.31 on Monday. The company has a market cap of $16.48 billion, a PE ratio of 90.29, a price-to-earnings-growth ratio of 0.54 and a beta of 0.78. The company has a current ratio of 3.47, a quick ratio of 2.45 and a debt-to-equity ratio of 0.15. The stock has a 50-day moving average price of $35.13 and a 200-day moving average price of $36.50. Teck Resources Ltd has a 12-month low of $28.32 and a 12-month high of $54.13.

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

Teck Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be given 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 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Monday, September 15th. Teck Resources's dividend payout ratio is presently 94.74%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Desjardins lowered Teck Resources from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Wall Street Zen raised Teck Resources from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Benchmark decreased their price objective on Teck Resources from $55.00 to $48.00 and set a "buy" rating for the company in a report on Monday, July 28th. Stifel Canada raised Teck Resources to a "hold" rating in a report on Tuesday, July 8th. Finally, Cibc World Mkts lowered Teck Resources from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, Teck Resources currently has an average rating of "Moderate Buy" and a consensus price target of $57.88.

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.

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