Trek Financial LLC Has $6.68 Million Stock Holdings in Teck Resources Ltd (NYSE:TECK)

Trek Financial LLC lifted its position in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 79.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 183,413 shares of the basic materials company's stock after acquiring an additional 81,299 shares during the quarter. Trek Financial LLC's holdings in Teck Resources were worth $6,682,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Community Bank N.A. purchased a new stake in shares of Teck Resources in the fourth quarter valued at $33,000. Golden State Wealth Management LLC lifted its stake in shares of 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 buying an additional 1,134 shares during the period. Ameriflex Group Inc. purchased a new position in shares of Teck Resources during the fourth quarter valued at approximately $50,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Teck Resources during the fourth quarter valued at approximately $55,000. Finally, Bruce G. Allen Investments LLC lifted its stake in shares of Teck Resources by 104.8% during 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 buying an additional 837 shares during the period. Hedge funds and other institutional investors own 78.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. UBS Group reiterated a "neutral" rating on shares of Teck Resources in a research report on Tuesday, April 15th. JPMorgan Chase & Co. increased their price objective on shares of Teck Resources from $41.00 to $46.00 and gave the stock an "overweight" rating in a report on Wednesday. Veritas raised shares of Teck Resources to a "hold" rating in a research note on Friday, April 11th. Stifel Nicolaus initiated coverage on Teck Resources in a report on Wednesday. They issued a "hold" rating on the stock. Finally, National Bank Financial raised Teck Resources from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Teck Resources presently has an average rating of "Moderate Buy" and a consensus target price of $65.25.

Teck Resources Stock Down 1.2%

Teck Resources stock traded down $0.47 during midday trading on Wednesday, hitting $38.66. The stock had a trading volume of 2,536,840 shares, compared to its average volume of 3,239,897. Teck Resources Ltd has a 12 month low of $28.32 and a 12 month high of $54.13. The company has a current ratio of 3.36, a quick ratio of 2.57 and a debt-to-equity ratio of 0.15. The stock has a market cap of $18.67 billion, a P/E ratio of 66.66, a P/E/G ratio of 0.61 and a beta of 0.80. The business has a fifty day moving average price of $37.69 and a 200 day moving average price of $38.87.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its quarterly earnings results on Thursday, April 24th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.18. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $2.19 billion. Teck Resources had a return on equity of 4.53% and a net margin of 3.48%. The firm's quarterly revenue was up 41.4% on a year-over-year basis. During the same period last year, the company posted $0.75 EPS. Research analysts predict that Teck Resources Ltd will post 1.53 EPS for the current year.

Teck Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were given a $0.0901 dividend. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.93%. Teck Resources's dividend payout ratio (DPR) is 62.07%.

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.