Russell Investments Group Ltd. lifted its stake in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 27.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 272,312 shares of the basic materials company's stock after buying an additional 59,071 shares during the period. Russell Investments Group Ltd. owned approximately 0.06% of Teck Resources worth $9,919,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Costello Asset Management INC purchased a new position in shares of Teck Resources in the first quarter worth about $33,000. Banque Cantonale Vaudoise purchased a new position in shares of Teck Resources in the first quarter worth about $36,000. Golden State Wealth Management LLC increased its holdings in shares of 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 worth $42,000 after buying an additional 1,134 shares during the period. Ameriflex Group Inc. purchased a new position in Teck Resources during the 4th quarter valued at about $50,000. Finally, Bruce G. Allen Investments LLC increased its holdings in Teck Resources by 104.8% during 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 period. Hedge funds and other institutional investors own 78.06% of the company's stock.
Teck Resources Stock Performance
TECK traded up $1.84 during mid-day trading on Friday, reaching $33.60. 4,897,497 shares of the company traded hands, compared to its average volume of 3,749,394. The stock has a market capitalization of $16.23 billion, a P/E ratio of 88.42, a P/E/G ratio of 0.49 and a beta of 0.81. The company has a quick ratio of 2.45, a current ratio of 3.47 and a debt-to-equity ratio of 0.15. The company's fifty day moving average price is $36.29 and its 200-day moving average price is $37.29. Teck Resources Ltd has a 52-week low of $28.32 and a 52-week high of $54.13.
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 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.07. The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $2.25 billion. Teck Resources had a net margin of 2.51% and a return on equity of 3.91%. The company's quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.79 EPS. On average, sell-side analysts expect that Teck Resources Ltd will post 1.53 EPS for the current year.
Teck Resources Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be paid a $0.0918 dividend. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. The ex-dividend date is Monday, September 15th. This represents a $0.37 annualized dividend and a dividend yield of 1.1%. Teck Resources's dividend payout ratio (DPR) is currently 94.74%.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on TECK. Desjardins downgraded Teck Resources from a "buy" rating to a "hold" rating in a report on Friday, July 18th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $41.00 price objective (down from $46.00) on shares of Teck Resources in a research report on Friday, July 25th. CIBC cut Teck Resources from a "sector outperform" rating to a "neutral" rating in a research report on Friday, July 25th. Benchmark lowered their price objective on Teck Resources from $55.00 to $48.00 and set a "buy" rating on the stock in a research report on Monday, July 28th. Finally, Wall Street Zen raised Teck Resources from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, Teck Resources currently has a consensus rating of "Hold" and an average price target of $60.11.
View Our Latest Stock Analysis on Teck Resources
Teck Resources Profile
(
Free Report)
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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