Impala Asset Management LLC lowered its position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 6.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,648,268 shares of the basic materials company’s stock after selling 1,014,606 shares during the period. Teck Resources makes up about 16.5% of Impala Asset Management LLC’s portfolio, making the stock its largest position. Impala Asset Management LLC owned approximately 2.45% of Teck Resources worth $316,367,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. HCR Wealth Advisors acquired a new position in Teck Resources during the first quarter worth $294,000. Acadian Asset Management LLC grew its holdings in shares of Teck Resources by 2,300.0% during the fourth quarter. Acadian Asset Management LLC now owns 7,200 shares of the basic materials company’s stock worth $155,000 after buying an additional 6,900 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Teck Resources by 35.4% during the first quarter. Quadrant Capital Group LLC now owns 7,388 shares of the basic materials company’s stock worth $168,000 after buying an additional 1,931 shares in the last quarter. Exane Derivatives purchased a new stake in shares of Teck Resources during the fourth quarter worth $187,000. Finally, Beutel Goodman & Co Ltd. purchased a new stake in shares of Teck Resources during the first quarter worth $252,000. 55.23% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently issued reports on TECK shares. Barclays lowered shares of Teck Resources to a “positive” rating in a report on Tuesday, April 9th. They noted that the move was a valuation call. MKM Partners reaffirmed a “buy” rating and set a $28.00 target price (up previously from $26.00) on shares of Teck Resources in a report on Wednesday, April 24th. Bank of America set a $30.00 target price on shares of Teck Resources and gave the stock a “buy” rating in a report on Thursday, April 4th. Zacks Investment Research lowered shares of Teck Resources from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. Finally, ValuEngine raised shares of Teck Resources from a “sell” rating to a “hold” rating in a report on Thursday, March 21st. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $29.29.
TECK stock traded down $0.19 during mid-day trading on Wednesday, hitting $22.56. 2,026,123 shares of the company were exchanged, compared to its average volume of 2,713,404. The company has a quick ratio of 2.06, a current ratio of 2.95 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $12.61 billion, a price-to-earnings ratio of 7.18 and a beta of 1.34. The firm’s fifty day simple moving average is $21.27. Teck Resources Ltd has a 12-month low of $18.17 and a 12-month high of $26.40.
Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. The business had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Teck Resources had a net margin of 23.71% and a return on equity of 9.59%. During the same quarter in the prior year, the company earned $1.31 earnings per share. As a group, equities analysts expect that Teck Resources Ltd will post 2.97 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders 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 annualized dividend and a yield of 0.66%. Teck Resources’s dividend payout ratio is currently 4.78%.
Teck Resources Profile
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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