Wealth Enhancement Advisory Services LLC Acquires New Position in Teck Resources Ltd $TECK

Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 5,996 shares of the basic materials company's stock, valued at approximately $245,000.

A number of other large investors also recently added to or reduced their stakes in TECK. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Teck Resources by 102.5% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,320 shares of the basic materials company's stock worth $53,000 after acquiring an additional 668 shares in the last quarter. Douglas Lane & Associates LLC grew its position in Teck Resources by 5.5% in the 2nd quarter. Douglas Lane & Associates LLC now owns 1,037,976 shares of the basic materials company's stock valued at $41,913,000 after acquiring an additional 54,561 shares during the last quarter. Impala Asset Management LLC bought a new position in Teck Resources in the 1st quarter valued at $15,811,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Teck Resources by 1.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 465,861 shares of the basic materials company's stock worth $16,971,000 after buying an additional 8,146 shares in the last quarter. Finally, Caxton Associates LLP bought a new position in shares of Teck Resources during the 1st quarter worth $36,121,000. 78.06% of the stock is owned by hedge funds and other institutional investors.

Teck Resources Stock Performance

Shares of TECK opened at $43.88 on Friday. The stock has a 50-day simple moving average of $36.84 and a 200-day simple moving average of $36.63. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.45 and a current ratio of 3.47. The stock has a market capitalization of $21.08 billion, a PE ratio of 115.48, a PEG ratio of 0.54 and a beta of 0.92. Teck Resources Ltd has a 1 year low of $28.32 and a 1 year high of $51.58.

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

Teck Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were issued a $0.0918 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $0.37 annualized dividend and a dividend yield of 0.8%. This is an increase from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's payout ratio is 94.74%.

Analyst Ratings Changes

A number of equities research analysts have commented on TECK shares. Cibc World Mkts cut Teck Resources from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. Stifel Nicolaus began coverage on Teck Resources in a report on Wednesday, July 9th. They set a "hold" rating on the stock. CIBC lowered Teck Resources from a "sector outperform" rating to a "neutral" rating in a report on Friday, July 25th. UBS Group raised Teck Resources from a "neutral" rating to a "buy" rating in a report on Wednesday, September 3rd. Finally, B. Riley lowered Teck Resources from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Teck Resources currently has an average rating of "Hold" and a consensus price target of $54.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.