Optima Fund Management LLC raised its stake in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 3.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 64,280 shares of the basic materials company’s stock after purchasing an additional 2,280 shares during the quarter. Teck Resources makes up 2.1% of Optima Fund Management LLC’s holdings, making the stock its 15th largest position. Optima Fund Management LLC’s holdings in Teck Resources were worth $1,490,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the business. Shell Asset Management Co. increased its stake in Teck Resources by 1.1% in the 1st quarter. Shell Asset Management Co. now owns 45,078 shares of the basic materials company’s stock valued at $1,043,000 after buying an additional 500 shares during the period. JCIC Asset Management Inc. increased its stake in Teck Resources by 0.3% in the 1st quarter. JCIC Asset Management Inc. now owns 294,008 shares of the basic materials company’s stock valued at $6,810,000 after buying an additional 960 shares during the period. Bank of Nova Scotia Trust Co. increased its stake in Teck Resources by 6.9% in the 4th quarter. Bank of Nova Scotia Trust Co. now owns 23,121 shares of the basic materials company’s stock valued at $498,000 after buying an additional 1,484 shares during the period. Gotham Asset Management LLC increased its stake in Teck Resources by 15.5% in the 4th quarter. Gotham Asset Management LLC now owns 12,749 shares of the basic materials company’s stock valued at $275,000 after buying an additional 1,711 shares during the period. Finally, Quadrant Capital Group LLC increased its stake in Teck Resources by 35.4% in the 1st quarter. Quadrant Capital Group LLC now owns 7,388 shares of the basic materials company’s stock valued at $168,000 after buying an additional 1,931 shares during the period. Hedge funds and other institutional investors own 55.01% of the company’s stock.
Shares of TECK traded down $0.02 during mid-day trading on Friday, hitting $21.79. 29,577 shares of the company’s stock were exchanged, compared to its average volume of 2,114,271. Teck Resources Ltd has a twelve month low of $18.17 and a twelve month high of $29.23. The firm has a market cap of $12.29 billion, a price-to-earnings ratio of 6.88 and a beta of 1.34. The company has a quick ratio of 2.06, a current ratio of 2.95 and a debt-to-equity ratio of 0.23.
Teck Resources (NYSE:TECK) (TSE:TECK) last posted its earnings results on Tuesday, April 23rd. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Teck Resources had a net margin of 23.71% and a return on equity of 9.59%. The business had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period last year, the business posted $1.31 EPS. As a group, research analysts predict that Teck Resources Ltd will post 2.92 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.037 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.15 dividend on an annualized basis and a yield of 0.68%. Teck Resources’s payout ratio is presently 4.78%.
TECK has been the topic of several analyst reports. Barclays lowered shares of Teck Resources to a “positive” rating in a research note on Tuesday, April 9th. They noted that the move was a valuation call. MKM Partners restated a “buy” rating and set a $28.00 price target (up previously from $26.00) on shares of Teck Resources in a research note on Wednesday, April 24th. Bank of America set a $30.00 price target on shares of Teck Resources and gave the stock a “buy” rating in a research note on Thursday, April 4th. Zacks Investment Research lowered shares of Teck Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th. Finally, ValuEngine upgraded shares of Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, March 21st. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $29.29.
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About Teck Resources
Teck Resources Limited researches, explores for, develops, and produces natural resources in the Asia Pacific, the Americas, and Europe. It operates through five segments: Steelmaking, Coal, Copper, Zinc, Energy, and Corporate. The company's principal products include 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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