BW Gestao de Investimentos Ltda. Acquires New Position in Teck Resources Ltd $TECK

BW Gestao de Investimentos Ltda. bought a new position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 323,600 shares of the basic materials company’s stock, valued at approximately $14,203,000. BW Gestao de Investimentos Ltda. owned about 0.07% of Teck Resources at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in TECK. Versant Capital Management Inc purchased a new stake in shares of Teck Resources during the third quarter valued at $26,000. Smartleaf Asset Management LLC lifted its position in Teck Resources by 72.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 351 shares during the period. SouthState Bank Corp purchased a new stake in Teck Resources during the 3rd quarter valued at about $50,000. Tobam purchased a new stake in Teck Resources during the 2nd quarter valued at about $62,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Teck Resources by 43.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,741 shares of the basic materials company’s stock valued at $76,000 after purchasing an additional 524 shares during the period. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Wall Street Analyst Weigh In

TECK has been the subject of several research analyst reports. Citigroup upgraded Teck Resources from a “neutral” rating to a “buy” rating in a research note on Monday, February 2nd. UBS Group reissued a “buy” rating on shares of Teck Resources in a research report on Tuesday, January 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Teck Resources in a research note on Wednesday, January 21st. Scotiabank reissued a “sector perform” rating on shares of Teck Resources in a report on Tuesday, February 24th. Finally, National Bank Financial downgraded shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 5th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $57.00.

Teck Resources Stock Performance

Shares of NYSE TECK opened at $50.98 on Tuesday. The company has a market capitalization of $24.54 billion, a PE ratio of 25.24, a price-to-earnings-growth ratio of 3.08 and a beta of 0.77. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.54. The company’s fifty day moving average price is $54.51 and its 200 day moving average price is $46.09. Teck Resources Ltd has a 1 year low of $28.32 and a 1 year high of $62.41.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Thursday, February 19th. The basic materials company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.39. The company had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Teck Resources had a net margin of 12.98% and a return on equity of 5.90%. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.45 earnings per share. On average, research analysts predict that Teck Resources Ltd will post 1.53 earnings per share for the current year.

Teck Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, March 13th. Teck Resources’s payout ratio is currently 17.82%.

Teck Resources Company Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.