Teck Resources Ltd $TECK Shares Acquired by Louisbourg Investments Inc.

Key Points

• Louisbourg Investments increased its stake in Teck Resources by 14.0%, buying 19,550 shares to hold 159,462 shares worth $7,645,000 (about 1.4% of its portfolio and its 23rd largest holding), and institutional investors own roughly 78.06% of the stock.
• Teck reported quarterly EPS of $0.98 versus $0.59 expected (revenue $2.23B, up 9.8% y/y), recently paid a $0.125 quarterly dividend (annualized $0.50, yield 0.9%), and carries a consensus analyst rating of Moderate Buy with an average target of $57.00.

Louisbourg Investments Inc. boosted its position in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 14.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 159,462 shares of the basic materials company's stock after purchasing an additional 19,550 shares during the period. Teck Resources makes up about 1.4% of Louisbourg Investments Inc.'s portfolio, making the stock its 23rd largest holding. Louisbourg Investments Inc.'s holdings in Teck Resources were worth $7,645,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc acquired a new stake in shares of Teck Resources in the third quarter valued at $26,000. Smartleaf Asset Management LLC grew its holdings in Teck Resources by 72.4% during the third quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company's stock worth $37,000 after acquiring an additional 351 shares during the period. SouthState Bank Corp bought a new stake in Teck Resources in the third quarter worth about $50,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Teck Resources by 43.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,741 shares of the basic materials company's stock valued at $76,000 after acquiring an additional 524 shares during the last quarter. Finally, Tobam lifted its holdings in Teck Resources by 30.9% in the 3rd quarter. Tobam now owns 2,011 shares of the basic materials company's stock valued at $88,000 after acquiring an additional 475 shares during the last quarter. 78.06% of the stock is owned by institutional investors.

Teck Resources Stock Down 0.8%

Shares of Teck Resources stock opened at $52.78 on Friday. Teck Resources Ltd has a 1 year low of $28.32 and a 1 year high of $62.41. The company has a market cap of $25.41 billion, a P/E ratio of 26.13, a P/E/G ratio of 2.81 and a beta of 0.85. The company has a current ratio of 2.54, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average price of $54.44 and a 200 day moving average price of $47.75.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its quarterly earnings results on Thursday, February 19th. The basic materials company reported $0.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.59 by $0.39. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.28 billion. Teck Resources had a net margin of 12.98% and a return on equity of 5.90%. The firm's revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.45 earnings per share. As a group, analysts expect that Teck Resources Ltd will post 1.53 EPS for the current fiscal year.

Teck Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were given a $0.125 dividend. The ex-dividend date was Friday, March 13th. This represents a $0.50 dividend on an annualized basis and a yield of 0.9%. Teck Resources's dividend payout ratio is presently 18.32%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Truist Financial set a $67.00 price objective on shares of Teck Resources in a research note on Monday, February 23rd. UBS Group reissued a "buy" rating on shares of Teck Resources in a research note on Tuesday, January 27th. Weiss Ratings restated a "hold (c)" rating on shares of Teck Resources in a report on Wednesday, January 21st. Veritas upgraded shares of Teck Resources from a "strong sell" rating to a "strong-buy" rating in a research report on Thursday, January 15th. Finally, Citigroup raised Teck Resources from a "neutral" rating to a "buy" rating in a report on Monday, February 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $57.00.

Teck Resources Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company's operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.

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