According to the latest disclosure filed with the Securities and Exchange Commission, the institutional investor owned 1,990,000 shares of the basic materials company's stock after selling 400,000 shares during the quarter. The investor held 1,990,000 of the basic materials firm's stock. He sold 400,000 shares in the quarter. Teck Resources is the 11th largest holding in Standard Investments LLC, with a 3.9% share of its portfolio. Standard Investments LLC held Teck Resources for $75,262,000 in its latest filing with the Securities and Exchange Commission.
Other hedge funds also increased or decreased their stakes. Mendota Financial Group LLC purchased a stake in Teck Resources worth $28,000 in the fourth quarter. Achmea Investment Management B.V. purchased a stake in Teck Resources worth $37,000 in the first quarter. EverSource Wealth Advisors LLC increased its holdings of Teck Resources in the fourth-quarter by 1,423.8%. EverSource Wealth Advisors LLC owns 960 of the basic materials firm's shares worth $36,000, after purchasing an additional 897 in the fourth quarter. Hollencrest Capital Management purchased a stake in Teck Resources worth $38,000 in the fourth-quarter. Covestor Ltd bought a new stake in Teck Resources shares in the first-quarter worth $53,000. Several research companies have recently weighed-in on TECK. In a research report published on May 3rd, Deutsche Bank Aktiengesellschaft raised their price target for Teck Resources to $47.00 from $46,00. In a research report published on May 3, 888 reiterated its'maintains rating' on Teck Resources shares. In a research report published on Thursday, 14th April, Scotiabank reiterated its'sector-outperform' rating for shares of Teck Resources. B. Riley raised their price target for Teck Resources in a Friday, April 28, research note from C$66.00 up to C$68.00. Stifel Nicolaus also raised their price target for Teck Resources in a research report on Tuesday, April 11, from C$65.00 up to C$66.00. Six analysts have given the stock a hold recommendation and nine others have recommended that investors buy the stock. According to MarketBeat.com Teck Resources has a current consensus rating of "Moderate buy" and a price target consensus of $61.86.
Teck Resources Stock Price Performance
During Monday's midday trading, the stock fell $0.70 to $41.81. The trading volume was 3,808,666 compared to the average of 4,790694. The company's quick ratio is 0.80, its current ratio is 1.28, and its debt-to equity ratio is 0.24. The company has a moving average over 50 days of $43.25, and two hundred day average is $40.54. The company's market cap is $21.42 billion. It has a P/E of 10.05 and a P/E/G of 1.51. Beta is 1.07. Teck Resources Limited's 1 year low is $24.72 while its 1 year high is $49.34.
The last time the TSE:TECK released its quarterly results was on Wednesday, 26th April. The company's earnings per share for the first quarter were $1.32, which was below analysts' expectations of $1.33. Revenue for the quarter was $2.80 billion, which is lower than analysts' expectations of $3.96 billion. Teck Resources' return on equity was 15.71 % and its net margin was 16.80 %. Analysts predict that Teck Resources Limited, as a whole, will have 4.75 earnings per share in the current fiscal period.
Teck Resources increases Dividend
A quarterly dividend was also declared by the business, and will be paid out on Friday 30th June. The $0.125 dividend will be paid to shareholders who were registered on the 15th of June. The dividend is an increase from the $0.09 quarterly dividend paid by Teck Resources in the previous quarter. This dividend will be paid on Wednesday, June 14. This is a $0.50 annualized dividend and yields 1.20%. Teck Resources has a dividend payout ratio of 8.89%.
Teck Resources Limited, a resource company that engages in exploration, acquisitions, development, production and sales of natural resources. Its products include steelmaking coke, copper, zinc and industrial products, fertilizers and other metals. The company's project operations are located across Canada, Peru Chile and the US.
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