US Bancorp DE Sells 2,106 Shares of Teck Resources Ltd $TECK

US Bancorp DE lowered its stake in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 9.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,816 shares of the basic materials company’s stock after selling 2,106 shares during the period. US Bancorp DE’s holdings in Teck Resources were worth $800,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its holdings in shares of Teck Resources by 13,171.4% during the first quarter. GAMMA Investing LLC now owns 3,716 shares of the basic materials company’s stock worth $135,000 after purchasing an additional 3,688 shares during the period. Oppenheimer Asset Management Inc. increased its position in shares of Teck Resources by 22.6% during the first quarter. Oppenheimer Asset Management Inc. now owns 12,141 shares of the basic materials company’s stock worth $442,000 after acquiring an additional 2,240 shares in the last quarter. Harbour Capital Advisors LLC bought a new stake in shares of Teck Resources during the first quarter worth about $694,000. Golden State Wealth Management LLC boosted its holdings in Teck Resources by 7,560.0% during the first quarter. Golden State Wealth Management LLC now owns 1,149 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 1,134 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its holdings in Teck Resources by 5.6% during the first 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 during the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Analyst Upgrades and Downgrades

TECK has been the topic of a number of research analyst reports. CIBC cut shares of Teck Resources from a “sector outperform” rating to a “neutral” rating in a research note on Friday, July 25th. Wall Street Zen raised shares of Teck Resources from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Cibc World Mkts lowered shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, July 25th. Morgan Stanley lowered shares of Teck Resources from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $42.00 to $44.00 in a report on Tuesday, July 15th. Finally, Raymond James Financial reissued an “outperform” rating on shares of Teck Resources in a report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Teck Resources currently has an average rating of “Hold” and a consensus price target of $54.00.

Teck Resources Price Performance

Shares of Teck Resources stock opened at $43.38 on Friday. Teck Resources Ltd has a 52-week low of $28.32 and a 52-week high of $51.48. The stock has a market capitalization of $20.84 billion, a price-to-earnings ratio of 114.15, a price-to-earnings-growth ratio of 0.63 and a beta of 0.92. The company has a fifty day moving average of $38.15 and a 200-day moving average of $36.81. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.45 and a current ratio of 3.47.

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

Teck Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were paid a $0.0918 dividend. This is a positive change from Teck Resources’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Monday, September 15th. This represents a $0.37 dividend on an annualized basis and a dividend yield of 0.8%. Teck Resources’s dividend payout ratio is currently 94.74%.

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.