Teck Resources Ltd (NYSE:TECK) Holdings Lifted by Regal Partners Ltd

Key Points

• Regal Partners Ltd increased its holdings in Teck Resources Ltd by 17.4% during the first quarter, making it the company's second largest holding.
• Teck Resources declared a quarterly dividend of $0.0918, representing a 1.1% yield, demonstrating an increase from the previous quarter's dividend.
• Wall Street analysts have issued a mixed outlook for Teck Resources, with 13 hold ratings, 7 buy ratings, and a price target averaging $60.11.

Regal Partners Ltd increased its holdings in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 17.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,141,506 shares of the basic materials company's stock after purchasing an additional 464,646 shares during the period. Teck Resources accounts for 11.5% of Regal Partners Ltd's holdings, making the stock its 2nd biggest holding. Regal Partners Ltd owned 0.64% of Teck Resources worth $114,445,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in TECK. Costello Asset Management INC bought a new position in shares of Teck Resources in the 1st quarter valued at about $33,000. Banque Cantonale Vaudoise purchased a new stake in Teck Resources during the first quarter valued at approximately $36,000. Golden State Wealth Management LLC raised its position in Teck Resources by 7,560.0% during the first 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. bought a new stake in shares of Teck Resources in the 4th quarter valued at approximately $50,000. Finally, Bruce G. Allen Investments LLC lifted its stake in shares of Teck Resources by 104.8% in 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 purchasing an additional 837 shares during the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. BMO Capital Markets assumed coverage on Teck Resources in a research note on Wednesday, April 16th. They issued an "outperform" rating for the company. National Bankshares raised Teck Resources from a "sector perform" rating to an "outperform" rating in a research note on Thursday, April 24th. Stifel Nicolaus assumed coverage on Teck Resources in a research note on Wednesday, July 9th. They issued a "hold" rating for the company. CIBC lowered Teck Resources from a "sector outperform" rating to a "neutral" rating in a research note on Friday, July 25th. Finally, Royal Bank Of Canada lowered their price objective on Teck Resources from $82.00 to $67.00 and set an "outperform" rating for the company in a research note on Friday, July 25th. Thirteen equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $60.11.

Teck Resources Trading Up 0.7%

TECK opened at $32.53 on Wednesday. The stock's fifty day moving average is $37.20 and its two-hundred day moving average is $37.71. The company has a market capitalization of $15.71 billion, a P/E ratio of 85.61, a PEG ratio of 0.51 and a beta of 0.81. Teck Resources Ltd has a 52 week low of $28.32 and a 52 week high of $54.13. The company has a quick ratio of 2.45, a current ratio of 3.47 and a debt-to-equity ratio of 0.15.

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

Teck Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be issued a $0.0918 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.37 dividend on an annualized basis and a dividend yield of 1.1%. This is a boost from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's dividend payout ratio (DPR) is 94.74%.

About Teck Resources

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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