Atria Investments LLC bought a new position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) during the second quarter, Holdings Channel reports. The fund bought 13,306 shares of the basic materials company’s stock, valued at approximately $231,000.
Shares of Teck Resources Ltd (TECK) opened at 19.38 on Wednesday. The company’s 50-day moving average is $17.48 and its 200 day moving average is $20.55. The firm has a market cap of $11.19 billion, a price-to-earnings ratio of 9.70 and a beta of 1.22. Teck Resources Ltd has a 1-year low of $12.62 and a 1-year high of $26.60.
Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings results on Tuesday, April 25th. The basic materials company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by $0.16. The company had revenue of $2.89 billion during the quarter, compared to analyst estimates of $3.05 billion. Teck Resources had a return on equity of 10.02% and a net margin of 14.37%. The business’s revenue for the quarter was up 70.4% on a year-over-year basis. On average, equities research analysts expect that Teck Resources Ltd will post $3.10 EPS for the current fiscal year.
The business also recently declared a semiannual dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 15th were given a $0.0741 dividend. This represents a yield of 0.72%. This is a positive change from Teck Resources’s previous semiannual dividend of $0.04. The ex-dividend date of this dividend was Tuesday, June 13th. Teck Resources’s dividend payout ratio (DPR) is currently 7.69%.
A number of brokerages have weighed in on TECK. Berenberg Bank raised Teck Resources from a “hold” rating to a “buy” rating in a report on Wednesday, March 22nd. Deutsche Bank AG raised Teck Resources from a “hold” rating to a “buy” rating and boosted their price target for the stock from $24.00 to $25.00 in a research note on Tuesday, March 21st. Clarkson Capital reissued a “buy” rating on shares of Teck Resources in a research note on Friday, May 19th. Bank of America Corporation raised Teck Resources from a “neutral” rating to a “buy” rating in a research note on Friday, June 30th. Finally, Credit Suisse Group reissued an “outperform” rating on shares of Teck Resources in a research note on Tuesday, April 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-one have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $25.89.
Teck Resources Company Profile
Teck Resources Ltd is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company’s activities are organized into business units that are focused on steelmaking coal, copper, zinc and energy. It operates in five segments: steelmaking coal, copper, zinc, energy and corporate.
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