Quantbot Technologies LP purchased a new stake in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) during the third quarter, according to its most recent filing with the SEC. The firm purchased 36,774 shares of the basic materials company’s stock, valued at approximately $886,000.
Other large investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. raised its holdings in Teck Resources by 71,409.9% during the 2nd quarter. Advisors Asset Management Inc. now owns 107,980 shares of the basic materials company’s stock worth $107,000 after buying an additional 107,829 shares during the period. NumerixS Investment Technologies Inc acquired a new stake in Teck Resources during the 2nd quarter worth approximately $111,000. FIL Ltd acquired a new stake in Teck Resources during the 3rd quarter worth approximately $169,000. Gideon Capital Advisors Inc. acquired a new stake in Teck Resources during the 2nd quarter worth approximately $262,000. Finally, Greenleaf Trust raised its holdings in Teck Resources by 58.7% during the 2nd quarter. Greenleaf Trust now owns 12,821 shares of the basic materials company’s stock worth $326,000 after buying an additional 4,740 shares during the period. Institutional investors and hedge funds own 53.46% of the company’s stock.
Several brokerages have commented on TECK. MKM Partners restated a “buy” rating on shares of Teck Resources in a report on Friday, October 19th. CIBC restated a “buy” rating on shares of Teck Resources in a report on Tuesday, October 30th. Canaccord Genuity reaffirmed a “buy” rating on shares of Teck Resources in a research note on Tuesday, October 30th. Scotiabank reaffirmed a “buy” rating on shares of Teck Resources in a research note on Tuesday, October 30th. Finally, ValuEngine cut shares of Teck Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, October 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company’s stock. Teck Resources presently has an average rating of “Buy” and an average price target of $31.43.
Shares of TECK opened at $21.72 on Wednesday. The company has a market cap of $11.51 billion, a PE ratio of 6.33, a price-to-earnings-growth ratio of 0.60 and a beta of 1.60. Teck Resources Ltd has a twelve month low of $18.17 and a twelve month high of $30.80. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.30 and a quick ratio of 1.39.
Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Wednesday, October 24th. The basic materials company reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.11). The business had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.40 billion. Teck Resources had a return on equity of 12.31% and a net margin of 27.35%. As a group, sell-side analysts expect that Teck Resources Ltd will post 3.4 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 14th will be paid a dividend of $0.038 per share. The ex-dividend date is Thursday, December 13th. This represents a $0.15 annualized dividend and a dividend yield of 0.70%. Teck Resources’s dividend payout ratio is currently 4.37%.
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Teck Resources Company 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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