Evergreen Capital Management LLC Boosts Stake in Teck Resources Limited (NYSE:TECK)

Evergreen Capital Management LLC lifted its holdings in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 7.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,064 shares of the basic materials company’s stock after buying an additional 365 shares during the period. Evergreen Capital Management LLC’s holdings in Teck Resources were worth $243,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Hexagon Capital Partners LLC raised its stake 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 valued at $30,000 after buying an additional 386 shares during the last quarter. Creekmur Asset Management LLC purchased a new stake in Teck Resources during the fourth quarter valued at $35,000. Headlands Technologies LLC bought a new position in Teck Resources in the second quarter valued at about $38,000. Optiver Holding B.V. boosted its position in Teck Resources by 81.9% in the fourth quarter. Optiver Holding B.V. now owns 973 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 438 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Teck Resources by 583.1% during the 2nd quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 898 shares during the period. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Stock Performance

NYSE:TECK opened at $52.43 on Friday. The stock has a 50-day moving average price of $47.16 and a 200 day moving average price of $48.01. The stock has a market capitalization of $26.78 billion, a P/E ratio of 23.20 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. The company has a current ratio of 1.48, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.32. Teck Resources had a net margin of 9.40% and a return on equity of 6.52%. The firm had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter last year, the business posted $0.91 earnings per share. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. Equities research analysts forecast that Teck Resources Limited will post 1.98 EPS for the current fiscal year.

Teck Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 4.77%. The ex-dividend date of this dividend was Friday, September 13th. This is an increase from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s dividend payout ratio is 16.37%.

Analyst Upgrades and Downgrades

TECK has been the topic of several recent research reports. Morgan Stanley increased 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. Paradigm Capital upgraded shares of Teck Resources to a “moderate buy” rating in a research note on Friday, July 26th. StockNews.com lowered Teck Resources from a “hold” rating to a “sell” rating in a research note on Wednesday. BMO Capital Markets started coverage on Teck Resources in a report on Monday, July 15th. They issued an “outperform” rating on the stock. Finally, TD Securities upgraded Teck Resources to a “strong-buy” rating in a research report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Teck Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.00.

About Teck Resources

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.