Teck Resources Limited (NYSE:TECK) Stake Increased by Gemsstock Ltd.

Gemsstock Ltd. grew its holdings in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 1.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 838,170 shares of the basic materials company’s stock after buying an additional 11,546 shares during the quarter. Teck Resources accounts for about 12.8% of Gemsstock Ltd.’s investment portfolio, making the stock its 2nd biggest position. Gemsstock Ltd. owned 0.16% of Teck Resources worth $40,148,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hexagon Capital Partners LLC increased its holdings in Teck Resources by 143.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 386 shares during the period. Creekmur Asset Management LLC purchased a new stake in Teck Resources during the fourth quarter worth $35,000. Optiver Holding B.V. increased its holdings in shares of Teck Resources by 81.9% in the 4th quarter. Optiver Holding B.V. now owns 973 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 438 shares during the period. Blue Trust Inc. boosted its holdings in shares of Teck Resources by 583.1% in the 2nd quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock valued at $48,000 after buying an additional 898 shares in the last quarter. Finally, Pathway Financial Advisers LLC purchased a new stake in shares of Teck Resources during the 1st quarter valued at $74,000. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TECK. Morgan Stanley lifted their price objective on shares of Teck Resources from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, June 21st. TD Securities upgraded Teck Resources to a “strong-buy” rating in a research note on Tuesday, July 16th. BMO Capital Markets began coverage on shares of Teck Resources in a report on Monday, July 15th. They issued an “outperform” rating for the company. Paradigm Capital upgraded Teck Resources to a “moderate buy” rating in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. decreased their target price on Teck Resources from $56.00 to $54.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Teck Resources has an average rating of “Moderate Buy” and an average target price of $65.00.

Teck Resources Trading Down 2.7 %

Shares of NYSE TECK traded down $1.22 during trading on Friday, hitting $43.49. 3,588,917 shares of the company were exchanged, compared to its average volume of 2,175,032. The company has a fifty day moving average price of $47.45 and a 200-day moving average price of $47.08. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 1.48. The firm has a market capitalization of $22.25 billion, a PE ratio of 19.24 and a beta of 1.01. Teck Resources Limited has a 12-month low of $34.38 and a 12-month high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Wednesday, July 24th. The basic materials company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.32. Teck Resources had a return on equity of 6.52% and a net margin of 9.40%. The company had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same period last year, the business posted $0.91 EPS. Teck Resources’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, equities research analysts expect that Teck Resources Limited will post 2.01 EPS for the current year.

Teck Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 5.75%. The ex-dividend date is Friday, September 13th. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s dividend payout ratio (DPR) is 16.37%.

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.