U.S. Capital Wealth Advisors LLC Trims Position in Teck Resources Ltd $TECK

Key Points

• U.S. Capital Wealth Advisors LLC reduced its holdings in Teck Resources Ltd by 53.3% in the second quarter, now owning approximately 11,538 shares valued at $466,000.
• Teck Resources reported a net margin of 2.51% for the latest quarter and earnings per share of $0.27, surpassing analysts' expectations of $0.20.
• The company has declared a quarterly dividend of $0.0918 per share, representing an increase from its previous dividend of $0.09.

U.S. Capital Wealth Advisors LLC cut its position in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 53.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,538 shares of the basic materials company's stock after selling 13,195 shares during the period. U.S. Capital Wealth Advisors LLC's holdings in Teck Resources were worth $466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. boosted its position in shares of Teck Resources by 56.9% during the first quarter. Principal Financial Group Inc. now owns 11,530,742 shares of the basic materials company's stock worth $419,970,000 after acquiring an additional 4,180,623 shares during the last quarter. Canoe Financial LP bought a new position in shares of Teck Resources during the second quarter worth $97,536,000. Temasek Holdings Private Ltd boosted its position in shares of Teck Resources by 125.8% during the first quarter. Temasek Holdings Private Ltd now owns 2,479,555 shares of the basic materials company's stock worth $90,330,000 after acquiring an additional 1,381,355 shares during the last quarter. Carrhae Capital LLP bought a new position in shares of Teck Resources during the first quarter worth $46,478,000. Finally, Canada Pension Plan Investment Board boosted its position in shares of Teck Resources by 37.3% during the first quarter. Canada Pension Plan Investment Board now owns 3,715,016 shares of the basic materials company's stock worth $135,349,000 after acquiring an additional 1,009,545 shares during the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

Teck Resources Stock Performance

Shares of NYSE TECK opened at $40.00 on Friday. The company has a current ratio of 3.47, a quick ratio of 2.45 and a debt-to-equity ratio of 0.15. The stock has a market cap of $19.21 billion, a price-to-earnings ratio of 105.26, a PEG ratio of 0.59 and a beta of 0.78. The company has a 50 day simple moving average of $35.23 and a two-hundred day simple moving average of $36.50. Teck Resources Ltd has a 12 month low of $28.32 and a 12 month high of $54.13.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its quarterly earnings data on Thursday, July 24th. The basic materials company reported $0.27 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.07. Teck Resources had a net margin of 2.51% and a return on equity of 3.91%. The company had revenue of $1.49 billion during the quarter, compared to analysts' expectations of $2.25 billion. During the same period in the prior year, the business posted $0.79 earnings per share. The firm's revenue for the quarter was up 12.3% on a year-over-year basis. As a group, analysts predict that Teck Resources Ltd will post 1.53 earnings per share for the current year.

Teck Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be given a dividend of $0.0918 per share. This is a boost from Teck Resources's previous quarterly dividend of $0.09. This represents a $0.37 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, September 15th. Teck Resources's dividend payout ratio is currently 94.74%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TECK shares. Stifel Nicolaus started coverage on shares of Teck Resources in a research report on Wednesday, July 9th. They set a "hold" rating for the company. Stifel Canada raised shares of Teck Resources to a "hold" rating in a research note on Tuesday, July 8th. CIBC lowered shares of Teck Resources from a "sector outperform" rating to a "neutral" rating in a report on Friday, July 25th. UBS Group upgraded shares of Teck Resources from a "neutral" rating to a "buy" rating in a report on Wednesday, September 3rd. Finally, Royal Bank Of Canada cut their target price on shares of Teck Resources from $82.00 to $67.00 and set an "outperform" rating on the stock in a research report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $56.88.

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.

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