Teck Resources Ltd $TECK Shares Bought by Barings LLC

Barings LLC raised its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 34.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 143,379 shares of the basic materials company’s stock after purchasing an additional 37,023 shares during the quarter. Barings LLC’s holdings in Teck Resources were worth $5,790,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Kestra Private Wealth Services LLC raised its holdings in Teck Resources by 14.6% in the 1st quarter. Kestra Private Wealth Services LLC now owns 7,193 shares of the basic materials company’s stock valued at $262,000 after buying an additional 914 shares during the period. Cetera Investment Advisers raised its stake in shares of Teck Resources by 20.9% in the 1st quarter. Cetera Investment Advisers now owns 69,885 shares of the basic materials company’s stock valued at $2,546,000 after acquiring an additional 12,092 shares during the period. Assetmark Inc. lifted its holdings in shares of Teck Resources by 2.4% in the 1st quarter. Assetmark Inc. now owns 19,945 shares of the basic materials company’s stock worth $727,000 after acquiring an additional 471 shares during the last quarter. Nikko Asset Management Americas Inc. boosted its position in shares of Teck Resources by 1.0% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 53,616 shares of the basic materials company’s stock worth $1,953,000 after purchasing an additional 535 shares during the period. Finally, TD Asset Management Inc boosted its position in shares of Teck Resources by 0.6% during the 1st quarter. TD Asset Management Inc now owns 6,006,865 shares of the basic materials company’s stock worth $218,781,000 after purchasing an additional 33,475 shares during the period. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TECK has been the topic of a number of research analyst reports. UBS Group raised Teck Resources from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 3rd. JPMorgan Chase & Co. boosted their price objective on Teck Resources from $41.00 to $43.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. Veritas cut Teck Resources from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Raymond James Financial reaffirmed an “outperform” rating on shares of Teck Resources in a research report on Friday, October 10th. Finally, Weiss Ratings raised shares of Teck Resources from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Teck Resources has an average rating of “Hold” and a consensus target price of $54.00.

Teck Resources Trading Up 4.3%

TECK opened at $39.86 on Friday. Teck Resources Ltd has a 12 month low of $28.32 and a 12 month high of $48.47. The stock has a market capitalization of $19.16 billion, a price-to-earnings ratio of 22.39, a PEG ratio of 0.74 and a beta of 0.90. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.78 and a quick ratio of 2.08. The business has a fifty day moving average price of $41.96 and a 200 day moving average price of $38.32.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Wednesday, October 22nd. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.16. Teck Resources had a return on equity of 4.14% and a net margin of 11.93%.The business had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter last year, the business posted $0.60 EPS. The business’s quarterly revenue was up 18.4% compared to the same quarter last year. Sell-side analysts expect that Teck Resources Ltd will post 1.53 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be issued a dividend of $0.125 per share. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. The ex-dividend date is Monday, December 15th. This represents a $0.50 annualized dividend and a yield of 1.3%. Teck Resources’s dividend payout ratio (DPR) is presently 19.66%.

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.