Virginia Retirement Systems ET AL increased its stake in Teck Resources (NYSE:TECK) (TSE:TECK) by 20.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,700 shares of the basic materials company’s stock after purchasing an additional 14,400 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Teck Resources were worth $2,180,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of TECK. Addenda Capital Inc. increased its stake in Teck Resources by 37.6% in the 4th quarter. Addenda Capital Inc. now owns 456,004 shares of the basic materials company’s stock worth $11,965,000 after purchasing an additional 124,610 shares in the last quarter. Atria Investments LLC increased its stake in Teck Resources by 55.9% in the 4th quarter. Atria Investments LLC now owns 20,337 shares of the basic materials company’s stock worth $532,000 after purchasing an additional 7,289 shares in the last quarter. Bartlett & Co. LLC purchased a new position in Teck Resources in the 4th quarter worth about $118,000. Jones Collombin Investment Counsel Inc grew its stake in Teck Resources by 14.0% during the 4th quarter. Jones Collombin Investment Counsel Inc now owns 271,710 shares of the basic materials company’s stock valued at $7,105,000 after acquiring an additional 33,460 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in Teck Resources by 27.0% during the 4th quarter. SG Americas Securities LLC now owns 195,765 shares of the basic materials company’s stock valued at $5,123,000 after acquiring an additional 41,652 shares in the last quarter. 53.81% of the stock is currently owned by hedge funds and other institutional investors.
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Several equities analysts have weighed in on TECK shares. Zacks Investment Research cut Teck Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, February 20th. ValuEngine raised Teck Resources from a “hold” rating to a “buy” rating in a research note on Wednesday. Morgan Stanley lifted their target price on Teck Resources from $23.00 to $25.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 28th. Finally, Bank of America set a $36.00 target price on Teck Resources and gave the company a “buy” rating in a research note on Friday, February 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $31.05.
Shares of Teck Resources opened at $27.83 on Friday, according to MarketBeat Ratings. The company has a market capitalization of $15.02 billion, a P/E ratio of 8.11, a PEG ratio of 0.68 and a beta of 1.52. Teck Resources has a 52 week low of $27.43 and a 52 week high of $28.04. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.14 and a quick ratio of 1.38.
Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings results on Tuesday, April 24th. The basic materials company reported $1.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.04). The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.17 billion. Teck Resources had a net margin of 22.03% and a return on equity of 13.66%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.16 EPS. equities analysts forecast that Teck Resources will post 3.75 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be paid a $0.039 dividend. The ex-dividend date is Thursday, June 14th. This represents a $0.16 annualized dividend and a dividend yield of 0.56%. Teck Resources’s payout ratio is 4.66%.
Teck Resources Profile
Teck Resources Limited researches, explores for, develops, and produces natural resources in the Americas, the Asia Pacific, and Europe. It operates through five segments: Steelmaking Coal, Copper, Zinc, Energy, and Corporate. The company's principal products comprise steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.
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