Teck Resources Ltd $TECK Shares Purchased by Klein Pavlis & Peasley Financial Inc.

Klein Pavlis & Peasley Financial Inc. increased its position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 9.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,783 shares of the basic materials company’s stock after acquiring an additional 4,183 shares during the quarter. Teck Resources makes up about 1.3% of Klein Pavlis & Peasley Financial Inc.’s portfolio, making the stock its 28th biggest holding. Klein Pavlis & Peasley Financial Inc.’s holdings in Teck Resources were worth $1,889,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC increased its position in shares of Teck Resources by 5.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 10,354 shares of the basic materials company’s stock worth $377,000 after purchasing an additional 545 shares during the last quarter. Golden State Wealth Management LLC boosted its stake 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 during the period. Cetera Investment Advisers increased its position in shares of Teck Resources by 20.9% during the first quarter. Cetera Investment Advisers now owns 69,885 shares of the basic materials company’s stock valued at $2,546,000 after acquiring an additional 12,092 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of Teck Resources by 22.6% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 12,141 shares of the basic materials company’s stock valued at $442,000 after acquiring an additional 2,240 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of Teck Resources by 1,611.2% in the 1st quarter. Wellington Management Group LLP now owns 751,146 shares of the basic materials company’s stock valued at $27,358,000 after acquiring an additional 707,249 shares during the period. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Teck Resources from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a report on Monday, September 8th. CIBC cut Teck Resources from a “sector outperform” rating to a “neutral” rating in a research note on Friday, July 25th. Wall Street Zen upgraded Teck Resources from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Stifel Canada upgraded Teck Resources to a “hold” rating in a report on Tuesday, July 8th. Finally, Benchmark cut their price target on shares of Teck Resources from $55.00 to $48.00 and set a “buy” rating on the stock 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 and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $56.88.

Teck Resources Price Performance

Shares of NYSE TECK opened at $41.41 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.47 and a quick ratio of 2.45. The company has a market cap of $19.89 billion, a price-to-earnings ratio of 108.98, a price-to-earnings-growth ratio of 0.61 and a beta of 0.78. The stock’s 50-day moving average is $35.31 and its two-hundred day moving average is $36.47. Teck Resources Ltd has a 1-year low of $28.32 and a 1-year high of $53.63.

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

Teck Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be given a $0.0918 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.37 dividend on an annualized basis and a dividend yield of 0.9%. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s payout ratio is currently 94.74%.

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.