Teck Resources Ltd $TECK Shares Acquired by Temasek Holdings Private Ltd

Key Points

• Temasek Holdings has increased its stake in Teck Resources by 125.8%, now holding approximately 0.50% of the company valued at $90.33 million after acquiring an additional 1.38 million shares.
• Teck Resources recently reported earnings of $0.27 per share, exceeding analysts' estimates of $0.20, while revenue for the quarter fell short of expectations at $1.49 billion.
• The company has announced a quarterly dividend increase to $0.0918 per share, reflecting an annualized dividend yield of 1.1%, with a payout ratio of 94.74%.

Temasek Holdings Private Ltd raised its position in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 125.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,479,555 shares of the basic materials company's stock after buying an additional 1,381,355 shares during the period. Temasek Holdings Private Ltd owned approximately 0.50% of Teck Resources worth $90,330,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Teck Resources by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 19,531,542 shares of the basic materials company's stock worth $711,475,000 after purchasing an additional 215,410 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Teck Resources by 56.9% during the 1st quarter. Principal Financial Group Inc. now owns 11,530,742 shares of the basic materials company's stock worth $419,970,000 after purchasing an additional 4,180,623 shares during the last quarter. Boston Partners increased its holdings in Teck Resources by 1.9% during the 1st quarter. Boston Partners now owns 9,251,775 shares of the basic materials company's stock worth $337,042,000 after purchasing an additional 173,203 shares during the last quarter. Mackenzie Financial Corp increased its holdings in Teck Resources by 2.3% during the 1st quarter. Mackenzie Financial Corp now owns 6,020,429 shares of the basic materials company's stock worth $219,297,000 after purchasing an additional 137,886 shares during the last quarter. Finally, TD Asset Management Inc increased its holdings in Teck Resources by 0.6% during the 1st quarter. TD Asset Management Inc now owns 6,006,865 shares of the basic materials company's stock worth $218,781,000 after purchasing an additional 33,475 shares during the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Teck Resources Stock Performance

NYSE:TECK traded up $4.00 during midday trading on Tuesday, reaching $39.11. 41,718,620 shares of the company traded hands, compared to its average volume of 3,896,735. Teck Resources Ltd has a twelve month low of $28.32 and a twelve month high of $54.13. The firm has a market capitalization of $18.79 billion, a price-to-earnings ratio of 102.92, a price-to-earnings-growth ratio of 0.55 and a beta of 0.78. 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 company has a fifty day moving average price of $35.00 and a 200 day moving average price of $36.47.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.07. Teck Resources had a return on equity of 3.91% and a net margin of 2.51%.The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same quarter in the previous year, the firm posted $0.79 EPS. The business's revenue for the quarter was up 12.3% compared to the same quarter last year. On average, analysts expect that Teck Resources Ltd will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The company also recently disclosed 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. This represents a $0.37 annualized dividend and a dividend yield of 0.9%. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. The ex-dividend date is Monday, September 15th. Teck Resources's payout ratio is currently 94.74%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on TECK shares. Deutsche Bank Aktiengesellschaft upgraded Teck Resources from a "hold" rating to a "buy" rating and set a $42.00 price objective on the stock in a report on Monday. Stifel Nicolaus started coverage on Teck Resources in a report on Wednesday, July 9th. They set a "hold" rating on the stock. Desjardins lowered Teck Resources from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Wall Street Zen upgraded Teck Resources from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Royal Bank Of Canada decreased their target price on Teck Resources from $82.00 to $67.00 and set an "outperform" rating for the company in a research report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $56.88.

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.