Tobam Acquires Shares of 1,536 Teck Resources Ltd $TECK

Tobam acquired a new position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,536 shares of the basic materials company’s stock, valued at approximately $62,000.

Other institutional investors have also recently made changes to their positions in the company. M&G PLC grew its position in Teck Resources by 36.1% during the 2nd quarter. M&G PLC now owns 722,648 shares of the basic materials company’s stock worth $28,906,000 after purchasing an additional 191,867 shares during the period. Boston Partners grew its holdings in Teck Resources by 1.1% during the second quarter. Boston Partners now owns 9,352,218 shares of the basic materials company’s stock worth $377,643,000 after acquiring an additional 100,443 shares during the period. Vise Technologies Inc. purchased a new position in Teck Resources during the second quarter valued at approximately $289,000. Allworth Financial LP lifted its holdings in Teck Resources by 38.7% in the second quarter. Allworth Financial LP now owns 3,263 shares of the basic materials company’s stock valued at $132,000 after acquiring an additional 910 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Teck Resources by 168.9% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,879,437 shares of the basic materials company’s stock worth $76,054,000 after purchasing an additional 1,180,519 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on TECK. Raymond James Financial reiterated an “outperform” rating on shares of Teck Resources in a research note on Friday, October 10th. Wall Street Zen upgraded shares of Teck Resources from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Benchmark restated a “buy” rating on shares of Teck Resources in a research report on Thursday, October 23rd. JPMorgan Chase & Co. increased their price target on Teck Resources from $41.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, October 9th. Finally, Citigroup reissued a “neutral” rating on shares of Teck Resources in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $54.00.

Teck Resources Price Performance

Shares of NYSE TECK opened at $43.70 on Thursday. The firm has a 50-day simple moving average of $41.66 and a 200-day simple moving average of $38.06. The company has a quick ratio of 2.08, a current ratio of 2.78 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $21.00 billion, a price-to-earnings ratio of 24.55, a price-to-earnings-growth ratio of 0.74 and a beta of 0.90. Teck Resources Ltd has a 52 week low of $28.32 and a 52 week high of $48.47.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Wednesday, October 22nd. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.16. Teck Resources had a net margin of 11.93% and a return on equity of 4.14%. The company had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter in the prior year, the company earned $0.60 EPS. Teck Resources’s revenue was up 18.4% compared to the same quarter last year. On average, equities analysts predict that Teck Resources Ltd will post 1.53 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be given a dividend of $0.125 per share. The ex-dividend date is Monday, December 15th. This is a positive change from Teck Resources’s previous quarterly dividend of $0.09. This represents a $0.50 dividend on an annualized basis and a yield of 1.1%. Teck Resources’s dividend payout ratio (DPR) is 19.66%.

Teck Resources Company 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.