Schroder Investment Management Group purchased a new position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,362,268 shares of the basic materials company’s stock, valued at approximately $30,596,000. Schroder Investment Management Group owned about 0.24% of Teck Resources at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Capital Analysts LLC purchased a new position in shares of Teck Resources in the second quarter worth $100,000. Winslow Evans & Crocker Inc. bought a new stake in shares of Teck Resources in the second quarter worth $108,000. Financial Architects Inc bought a new stake in shares of Teck Resources in the second quarter worth $123,000. Nexus Investment Management Inc. bought a new stake in shares of Teck Resources in the second quarter worth $182,000. Finally, Candriam Luxembourg S.C.A. bought a new stake in shares of Teck Resources in the second quarter worth $188,000. Hedge funds and other institutional investors own 46.68% of the company’s stock.
Several analysts recently commented on TECK shares. Clarkson Capital reaffirmed a “buy” rating on shares of Teck Resources in a report on Friday, May 19th. MKM Partners reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Teck Resources in a report on Tuesday. ValuEngine lowered Teck Resources from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 6th. Bank of America Corporation raised Teck Resources from a “neutral” rating to a “buy” rating in a report on Friday, June 30th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $23.00 price objective (down previously from $24.00) on shares of Teck Resources in a report on Sunday, June 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $30.25.
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Shares of Teck Resources Ltd (NYSE TECK) opened at 23.35 on Tuesday. The company has a 50 day moving average price of $23.03 and a 200-day moving average price of $20.38. Teck Resources Ltd has a 52-week low of $14.56 and a 52-week high of $33.76. The stock has a market capitalization of $13.49 billion, a P/E ratio of 8.38 and a beta of 1.25.
Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.02. Teck Resources had a return on equity of 13.01% and a net margin of 17.93%. The company had revenue of $2.82 billion for the quarter, compared to analysts’ expectations of $2.75 billion. Teck Resources’s revenue was up 62.0% on a year-over-year basis. On average, analysts predict that Teck Resources Ltd will post $3.54 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.0399 dividend. This represents a $0.16 annualized dividend and a yield of 0.68%. The ex-dividend date is Thursday, September 14th. Teck Resources’s payout ratio is 5.64%.
Teck Resources Company Profile
Teck Resources Ltd is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company’s activities are organized into business units that are focused on steelmaking coal, copper, zinc and energy. It operates in five segments: steelmaking coal, copper, zinc, energy and corporate.
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