Cetera Investment Advisers Buys 12,092 Shares of Teck Resources Ltd (NYSE:TECK)

Cetera Investment Advisers raised its stake in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 20.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,885 shares of the basic materials company’s stock after acquiring an additional 12,092 shares during the quarter. Cetera Investment Advisers’ holdings in Teck Resources were worth $2,546,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Rockefeller Capital Management L.P. boosted its position in Teck Resources by 2.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 13,511 shares of the basic materials company’s stock valued at $548,000 after acquiring an additional 335 shares in the last quarter. Vontobel Holding Ltd. boosted its position in Teck Resources by 0.5% during the 1st quarter. Vontobel Holding Ltd. now owns 88,303 shares of the basic materials company’s stock valued at $3,217,000 after acquiring an additional 400 shares in the last quarter. Ervin Investment Management LLC boosted its position in Teck Resources by 5.1% during the 1st quarter. Ervin Investment Management LLC now owns 10,980 shares of the basic materials company’s stock valued at $400,000 after acquiring an additional 535 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in Teck Resources by 1.0% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 53,616 shares of the basic materials company’s stock valued at $1,953,000 after acquiring an additional 535 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its position in shares of Teck Resources by 5.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 10,354 shares of the basic materials company’s stock worth $377,000 after purchasing an additional 545 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. B. Riley cut Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, July 28th. Veritas raised Teck Resources to a “hold” rating in a research report on Friday, April 11th. Stifel Canada raised Teck Resources to a “hold” rating in a research report on Tuesday, July 8th. Stifel Nicolaus assumed coverage on Teck Resources in a research report on Wednesday, July 9th. They issued a “hold” rating for the company. Finally, National Bankshares raised Teck Resources from a “sector perform” rating to an “outperform” rating in a research report on Thursday, April 24th. Thirteen equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $60.11.

Teck Resources Stock Performance

Shares of TECK opened at $32.42 on Thursday. The stock has a 50-day moving average of $37.56 and a two-hundred day moving average of $38.04. Teck Resources Ltd has a one year low of $28.32 and a one year high of $54.13. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.45 and a current ratio of 3.47. The stock has a market cap of $15.66 billion, a P/E ratio of 85.33, a P/E/G ratio of 0.52 and a beta of 0.81.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Thursday, July 24th. The basic materials company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.07. The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $2.25 billion. Teck Resources had a return on equity of 3.91% and a net margin of 2.51%. The company’s revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the business posted $0.79 EPS. As a group, research analysts predict that Teck Resources Ltd will post 1.53 EPS for the current year.

Teck Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.0918 per share. This represents a $0.37 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Monday, September 15th. This is an increase from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s dividend payout ratio (DPR) is 94.74%.

Teck Resources 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.