Teck Resources Ltd (NYSE:TECK) Shares Bought by Scotia Capital Inc.

Key Points

• Scotia Capital Inc. increased its holdings in Teck Resources Ltd by 9.5%, acquiring an additional 33,494 shares, bringing its total to 387,626 shares valued at approximately $14 million.
• Teck Resources reported a quarterly earnings of $0.27 per share, exceeding analysts' expectations of $0.20, but its revenue fell short at $1.49 billion against a $2.25 billion estimate.
• The company recently announced a quarterly dividend increase, now at $0.0918 per share, which will be paid to shareholders on September 29th, representing an annualized yield of 1.2%.

Scotia Capital Inc. raised its holdings in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 9.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 387,626 shares of the basic materials company's stock after purchasing an additional 33,494 shares during the quarter. Scotia Capital Inc. owned 0.08% of Teck Resources worth $14,016,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise bought a new position in shares of Teck Resources in the first quarter worth about $36,000. Golden State Wealth Management LLC boosted its position in 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 buying an additional 1,134 shares during the last quarter. Ameriflex Group Inc. acquired a new position in Teck Resources in the fourth quarter valued at approximately $50,000. Bruce G. Allen Investments LLC grew its holdings in Teck Resources by 104.8% during 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 purchasing an additional 837 shares during the period. Finally, Altshuler Shaham Ltd acquired a new position in shares of Teck Resources in the 4th quarter valued at $70,000. Hedge funds and other institutional investors own 78.06% of the company's stock.

Teck Resources Stock Up 2.4%

Shares of NYSE:TECK traded up $0.77 during midday trading on Thursday, hitting $33.15. 2,543,757 shares of the company's stock were exchanged, compared to its average volume of 3,788,620. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.47 and a quick ratio of 2.45. The stock has a 50 day moving average price of $37.56 and a 200-day moving average price of $38.04. Teck Resources Ltd has a 12 month low of $28.32 and a 12 month high of $54.13. The company has a market cap of $16.01 billion, a PE ratio of 87.23, a price-to-earnings-growth ratio of 0.52 and a beta of 0.81.

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 (EPS) for the quarter, beating 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 during the quarter, compared to analysts' expectations of $2.25 billion. During the same quarter in the prior year, the company earned $0.79 EPS. The firm's revenue was up 12.3% on a year-over-year basis. On average, sell-side analysts anticipate that Teck Resources Ltd will post 1.53 EPS 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 issued a $0.0918 dividend. The ex-dividend date is Monday, September 15th. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. This represents a $0.37 dividend on an annualized basis and a dividend yield of 1.1%. Teck Resources's dividend payout ratio (DPR) is presently 94.74%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on TECK shares. Cibc World Mkts cut shares of Teck Resources from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. Stifel Nicolaus started coverage on Teck Resources in a research report on Wednesday, July 9th. They issued a "hold" rating for the company. Morgan Stanley lowered shares of Teck Resources from an "overweight" rating to an "equal weight" rating and boosted their target price for the company from $42.00 to $44.00 in a report on Tuesday, July 15th. CIBC downgraded Teck Resources from a "sector outperform" rating to a "neutral" rating in a research note on Friday, July 25th. Finally, Veritas upgraded shares of Teck Resources to a "hold" rating in a research report on Friday, April 11th. Thirteen analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Teck Resources currently has a consensus rating of "Hold" and a consensus target price 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.