Dynamic Technology Lab Private Ltd Invests $440,000 in Teck Resources Ltd $TECK

Dynamic Technology Lab Private Ltd acquired a new stake in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 10,014 shares of the basic materials company’s stock, valued at approximately $440,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in TECK. ASR Vermogensbeheer N.V. raised its position in shares of Teck Resources by 1.6% in the third quarter. ASR Vermogensbeheer N.V. now owns 16,721 shares of the basic materials company’s stock valued at $734,000 after buying an additional 270 shares in the last quarter. Smartleaf Asset Management LLC grew its position in Teck Resources by 72.4% during the third quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock worth $37,000 after buying an additional 351 shares in the last quarter. CWM LLC increased its stake in Teck Resources by 22.7% during the 3rd quarter. CWM LLC now owns 2,078 shares of the basic materials company’s stock worth $91,000 after acquiring an additional 384 shares during the period. GSA Capital Partners LLP increased its stake in Teck Resources by 1.0% during the 3rd quarter. GSA Capital Partners LLP now owns 40,941 shares of the basic materials company’s stock worth $1,797,000 after acquiring an additional 409 shares during the period. Finally, VestGen Advisors LLC raised its holdings in Teck Resources by 7.9% in the 2nd quarter. VestGen Advisors LLC now owns 6,353 shares of the basic materials company’s stock valued at $257,000 after acquiring an additional 467 shares in the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on TECK shares. Benchmark upped their target price on Teck Resources from $48.00 to $67.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. Veritas raised Teck Resources from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 15th. TD Securities reaffirmed a “hold” rating on shares of Teck Resources in a research report on Monday, February 23rd. Scotiabank reiterated a “sector perform” rating on shares of Teck Resources in a research note on Tuesday, February 24th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Teck Resources in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $57.00.

Teck Resources Trading Up 1.4%

Shares of TECK stock opened at $53.22 on Thursday. Teck Resources Ltd has a fifty-two week low of $28.32 and a fifty-two week high of $62.41. The stock’s fifty day moving average price is $54.70 and its two-hundred day moving average price is $46.27. 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 has a market cap of $25.62 billion, a PE ratio of 26.35, a P/E/G ratio of 3.20 and a beta of 0.77.

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

Teck Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.9%. Teck Resources’s dividend payout ratio is 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.