Teck Resources Ltd $TECK Shares Acquired by Northwest & Ethical Investments L.P.

Key Points

• Northwest & Ethical Investments L.P. increased its stake in Teck Resources by 53.6%, owning 135,745 shares valued at approximately $4.95 million after acquiring additional shares in the first quarter.
• Brokerages have mixed reviews on Teck Resources, with upgrades from National Bank and downgrades from Royal Bank of Canada, resulting in an average analyst rating of "Hold" and a price target of $60.11.
• Teck Resources has announced an increase in its quarterly dividend to $0.0918 per share and has shown a 12.3% increase in revenue compared to the previous year.

Northwest & Ethical Investments L.P. increased its position in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 53.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 135,745 shares of the basic materials company's stock after purchasing an additional 47,347 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Teck Resources were worth $4,948,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Costello Asset Management INC acquired a new position in Teck Resources in the first quarter valued at approximately $33,000. Banque Cantonale Vaudoise acquired a new position in Teck Resources in the first quarter valued at approximately $36,000. Golden State Wealth Management LLC boosted its stake in Teck Resources by 7,560.0% in 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 acquiring an additional 1,134 shares during the period. Ameriflex Group Inc. acquired a new position in Teck Resources in the fourth quarter valued at approximately $50,000. Finally, Bruce G. Allen Investments LLC boosted its stake in Teck Resources by 104.8% in 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 acquiring an additional 837 shares during the period. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TECK. National Bankshares upgraded Teck Resources from a "sector perform" rating to an "outperform" rating in a research note on Thursday, April 24th. Royal Bank Of Canada decreased their price objective on Teck Resources from $82.00 to $67.00 and set an "outperform" rating for the company in a report on Friday, July 25th. National Bank Financial upgraded Teck Resources from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. B. Riley cut Teck Resources from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. Finally, Stifel Nicolaus initiated coverage on Teck Resources in a research report on Wednesday, July 9th. They issued a "hold" rating on the stock. Thirteen investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $60.11.

Teck Resources Price Performance

Shares of NYSE:TECK opened at $32.27 on Monday. Teck Resources Ltd has a 12 month low of $28.32 and a 12 month high of $54.13. The stock has a market cap of $15.59 billion, a price-to-earnings ratio of 84.92, a PEG ratio of 0.51 and a beta of 0.81. The stock's 50 day moving average price is $36.86 and its 200 day moving average price is $37.50. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.47 and a quick ratio of 2.45.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its earnings results 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. Teck Resources had a return on equity of 3.91% and a net margin of 2.51%. The firm had revenue of $1.49 billion for the quarter, compared to analysts' expectations of $2.25 billion. During the same quarter in the previous year, the company earned $0.79 earnings per share. The firm's quarterly revenue was up 12.3% compared to the same quarter last year. Equities research analysts anticipate that Teck Resources Ltd will post 1.53 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be issued a dividend of $0.0918 per share. The ex-dividend date of this dividend is Monday, September 15th. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. This represents a $0.37 annualized dividend and a yield of 1.1%. Teck Resources's dividend payout ratio is presently 94.74%.

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.

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