Klein Pavlis & Peasley Financial Inc. Has $1.56 Million Stock Holdings in Teck Resources Ltd (NYSE:TECK)

Klein Pavlis & Peasley Financial Inc. increased its position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 19.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,600 shares of the basic materials company’s stock after buying an additional 6,800 shares during the quarter. Teck Resources accounts for 1.1% of Klein Pavlis & Peasley Financial Inc.’s portfolio, making the stock its 27th biggest holding. Klein Pavlis & Peasley Financial Inc.’s holdings in Teck Resources were worth $1,564,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Banque Cantonale Vaudoise acquired a new stake in Teck Resources during the first quarter worth about $36,000. Golden State Wealth Management LLC grew its position in 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 worth $42,000 after buying an additional 1,134 shares in the last quarter. Ameriflex Group Inc. acquired a new stake in Teck Resources during the fourth quarter worth about $50,000. Pilgrim Partners Asia Pte Ltd bought a new position in Teck Resources during the fourth quarter worth about $55,000. Finally, Bruce G. Allen Investments LLC lifted its stake in 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 worth $60,000 after purchasing an additional 837 shares during the period. 78.06% of the stock is owned by institutional investors and hedge funds.

Teck Resources Stock Performance

TECK stock opened at $31.61 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.47 and a quick ratio of 2.57. The company has a 50 day moving average price of $37.84 and a 200 day moving average price of $38.26. Teck Resources Ltd has a fifty-two week low of $28.32 and a fifty-two week high of $54.13. The stock has a market capitalization of $15.27 billion, a PE ratio of 83.19, a price-to-earnings-growth ratio of 0.51 and a beta of 0.81.

Teck Resources (NYSE:TECK) (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 the consensus estimate of $0.20 by $0.07. Teck Resources had a net margin of 2.51% and a return on equity of 3.91%. The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter in the previous year, the company posted $0.79 EPS. Teck Resources’s revenue was up 12.3% on a year-over-year basis. Analysts forecast that Teck Resources Ltd will post 1.53 EPS for the current year.

Teck Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be given a $0.0918 dividend. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. The ex-dividend date is Monday, September 15th. This represents a $0.37 annualized dividend and a yield of 1.2%. Teck Resources’s dividend payout ratio is presently 94.74%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TECK. Stifel Canada upgraded shares of Teck Resources to a “hold” rating in a research note on Tuesday, July 8th. Morgan Stanley cut shares of Teck Resources from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $42.00 to $44.00 in a research note on Tuesday, July 15th. Stifel Nicolaus began coverage on shares of Teck Resources in a research note on Wednesday, July 9th. They set a “hold” rating for the company. National Bankshares upgraded shares of Teck Resources from a “sector perform” rating to an “outperform” rating in a research note on Thursday, April 24th. Finally, Desjardins cut shares of Teck Resources from a “buy” rating to a “hold” rating in a research note on Friday, July 18th. Thirteen research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $60.11.

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.