Teck Resources Ltd $TECK Stock Holdings Boosted by Aviso Financial Inc.

Aviso Financial Inc. increased its position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 31.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,975 shares of the basic materials company’s stock after acquiring an additional 5,527 shares during the period. Aviso Financial Inc.’s holdings in Teck Resources were worth $929,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TECK. Canoe Financial LP acquired a new position in shares of Teck Resources in the second quarter worth about $97,536,000. Picton Mahoney Asset Management acquired a new stake in shares of Teck Resources during the second quarter valued at approximately $83,322,000. Temasek Holdings Private Ltd lifted its position in shares of Teck Resources by 125.8% in the 1st quarter. Temasek Holdings Private Ltd now owns 2,479,555 shares of the basic materials company’s stock valued at $90,330,000 after acquiring an additional 1,381,355 shares in the last quarter. Ninety One UK Ltd lifted its position in shares of Teck Resources by 436.6% in the 2nd quarter. Ninety One UK Ltd now owns 1,480,334 shares of the basic materials company’s stock valued at $59,768,000 after acquiring an additional 1,204,440 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Teck Resources by 168.9% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,879,437 shares of the basic materials company’s stock worth $76,054,000 after purchasing an additional 1,180,519 shares during the period. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Stock Performance

Shares of TECK opened at $42.27 on Wednesday. The company’s fifty day moving average price is $41.98 and its 200 day moving average price is $38.44. Teck Resources Ltd has a one year low of $28.32 and a one year high of $48.47. The company has a market capitalization of $20.31 billion, a PE ratio of 23.74, a price-to-earnings-growth 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.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Wednesday, October 22nd. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.16. Teck Resources had a net margin of 11.93% and a return on equity of 4.14%. The business had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same quarter in the previous year, the firm posted $0.60 earnings per share. Teck Resources’s revenue was up 18.4% compared to the same quarter last year. As a group, analysts expect that Teck Resources Ltd will post 1.53 earnings per share for the current year.

Teck Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.2%. This is an increase from Teck Resources’s previous quarterly dividend of $0.09. The ex-dividend date is Monday, December 15th. Teck Resources’s dividend payout ratio is presently 19.66%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Citigroup reissued a “neutral” rating on shares of Teck Resources in a research note on Wednesday, October 8th. Canaccord Genuity Group downgraded Teck Resources from a “buy” rating to a “hold” rating in a report on Wednesday, October 8th. JPMorgan Chase & Co. raised their price target on shares of Teck Resources from $41.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, October 9th. Raymond James Financial reaffirmed an “outperform” rating on shares of Teck Resources in a research report on Friday, October 10th. Finally, UBS Group upgraded shares of Teck Resources from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $54.00.

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.