Hsbc Holdings PLC Has $13.51 Million Holdings in Teck Resources Ltd $TECK

Hsbc Holdings PLC raised its position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 4.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 333,782 shares of the basic materials company’s stock after buying an additional 14,382 shares during the quarter. Hsbc Holdings PLC owned 0.07% of Teck Resources worth $13,514,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in TECK. Northwest & Ethical Investments L.P. grew its position in Teck Resources by 16.1% during the 2nd quarter. Northwest & Ethical Investments L.P. now owns 157,645 shares of the basic materials company’s stock worth $6,402,000 after purchasing an additional 21,900 shares in the last quarter. Swiss National Bank boosted its position in shares of Teck Resources by 6.0% in the second quarter. Swiss National Bank now owns 1,428,679 shares of the basic materials company’s stock worth $57,555,000 after buying an additional 80,300 shares during the period. Drummond Knight Asset Management Pty Ltd grew its holdings in shares of Teck Resources by 32.6% during the second quarter. Drummond Knight Asset Management Pty Ltd now owns 322,530 shares of the basic materials company’s stock valued at $13,024,000 after buying an additional 79,302 shares in the last quarter. Barings LLC grew its holdings in shares of Teck Resources by 34.8% during the second quarter. Barings LLC now owns 143,379 shares of the basic materials company’s stock valued at $5,790,000 after buying an additional 37,023 shares in the last quarter. Finally, Atria Investments Inc raised its position in Teck Resources by 27.1% during the second quarter. Atria Investments Inc now owns 33,303 shares of the basic materials company’s stock valued at $1,345,000 after buying an additional 7,095 shares during the period. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Stock Performance

TECK stock opened at $43.22 on Wednesday. The firm has a 50 day moving average of $42.36 and a two-hundred day moving average of $38.64. Teck Resources Ltd has a 12 month low of $28.32 and a 12 month high of $48.47. The company has a market capitalization of $20.77 billion, a price-to-earnings ratio of 24.28, a P/E/G ratio of 0.74 and a beta of 0.90. The company has a quick ratio of 2.08, a current ratio of 2.78 and a debt-to-equity ratio of 0.15.

Teck Resources (NYSE:TECK) (TSE:TECK) last released 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. The business had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.93 billion. Teck Resources had a net margin of 11.93% and a return on equity of 4.14%. Teck Resources’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.60 EPS. As a group, equities analysts anticipate that Teck Resources Ltd will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.2%. This is a positive change from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s payout ratio is currently 19.66%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TECK. Scotiabank restated a “sector perform” rating on shares of Teck Resources in a research report on Tuesday, November 25th. UBS Group upgraded shares of Teck Resources from a “neutral” rating to a “buy” rating in a report on Wednesday, September 3rd. Benchmark reiterated a “buy” rating on shares of Teck Resources in a research note on Thursday, October 23rd. Citigroup reiterated a “neutral” rating on shares of Teck Resources in a research report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $46.00 price target on shares of Teck Resources in a report on Wednesday, November 26th. 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, the stock presently has an average rating of “Hold” and a consensus target price of $54.57.

Teck Resources Company 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.