Winslow Evans & Crocker Inc. acquired a new stake in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,210 shares of the basic materials company’s stock, valued at approximately $108,000.
Other hedge funds have also recently modified their holdings of the company. Nexus Investment Management Inc. purchased a new stake in shares of Teck Resources during the second quarter valued at approximately $182,000. Atria Investments LLC purchased a new stake in shares of Teck Resources during the second quarter valued at approximately $231,000. Addison Capital Co purchased a new stake in shares of Teck Resources during the second quarter valued at approximately $423,000. Finally, NN Investment Partners Holdings N.V. purchased a new stake in shares of Teck Resources during the second quarter valued at approximately $623,000. 45.61% of the stock is owned by institutional investors.
Shares of Teck Resources Ltd (NYSE:TECK) opened at 22.34 on Friday. Teck Resources Ltd has a 52-week low of $14.56 and a 52-week high of $33.76. The stock has a market capitalization of $12.91 billion, a P/E ratio of 7.96 and a beta of 1.27. The company has a 50 day moving average price of $18.24 and a 200-day moving average price of $20.45.
Teck Resources (NYSE:TECK) (TSE:TECK) last posted its earnings results on Thursday, July 27th. The basic materials company reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.02. Teck Resources had a return on equity of 13.01% and a net margin of 17.93%. The firm had revenue of $2.82 billion for the quarter, compared to analysts’ expectations of $2.75 billion. The firm’s revenue for the quarter was up 62.0% compared to the same quarter last year. On average, analysts predict that Teck Resources Ltd will post $3.16 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a dividend of $0.0399 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend is Thursday, September 14th. Teck Resources’s dividend payout ratio (DPR) is presently 5.64%.
Several analysts recently commented on the company. Deutsche Bank AG reaffirmed a “buy” rating and issued a $23.00 price objective (down previously from $24.00) on shares of Teck Resources in a report on Sunday, June 25th. Bank of America Corporation lowered Teck Resources from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $27.00 to $19.00 in a report on Friday, June 9th. J P Morgan Chase & Co raised Teck Resources from a “neutral” rating to an “overweight” rating in a report on Tuesday, May 30th. Royal Bank Of Canada reissued an “outperform” rating and set a $38.00 price target (down previously from $39.00) on shares of Teck Resources in a report on Friday, June 16th. Finally, Zacks Investment Research lowered Teck Resources from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-one have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $27.03.
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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