Klein Pavlis & Peasley Financial Inc. Has $1.56 Million Stock Holdings in Teck Resources Ltd (NYSE:TECK)

Klein Pavlis & Peasley Financial Inc. boosted its holdings in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 19.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 42,600 shares of the basic materials company’s stock after acquiring an additional 6,800 shares during the period. Teck Resources accounts for 1.1% of Klein Pavlis & Peasley Financial Inc.’s portfolio, making the stock its 27th largest position. Klein Pavlis & Peasley Financial Inc.’s holdings in Teck Resources were worth $1,564,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Banque Cantonale Vaudoise acquired a new stake in Teck Resources during the 1st quarter worth $36,000. Golden State Wealth Management LLC grew its holdings in Teck Resources by 7,560.0% during the 1st quarter. Golden State Wealth Management LLC now owns 1,149 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 1,134 shares during the period. Ameriflex Group Inc. acquired a new stake in Teck Resources during the 4th quarter worth $50,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Teck Resources during the 4th quarter worth $55,000. Finally, Bruce G. Allen Investments LLC grew its holdings in Teck Resources by 104.8% during the 1st quarter. Bruce G. Allen Investments LLC now owns 1,636 shares of the basic materials company’s stock worth $60,000 after acquiring an additional 837 shares during the period. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Trading Down 2.6%

TECK opened at $31.61 on Friday. The stock has a market capitalization of $15.27 billion, a P/E ratio of 83.19, a P/E/G ratio of 0.51 and a beta of 0.81. Teck Resources Ltd has a 12 month low of $28.32 and a 12 month high of $54.13. The firm’s fifty day simple moving average is $37.84 and its 200 day simple moving average is $38.26. The company has a current ratio of 3.47, a quick ratio of 2.57 and a debt-to-equity ratio of 0.15.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Thursday, July 24th. The basic materials company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.20 by $0.07. Teck Resources had a net margin of 2.51% and a return on equity of 3.91%. The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $2.25 billion. During the same period in the previous year, the firm posted $0.79 EPS. The firm’s revenue was up 12.3% compared to the same quarter last year. As a group, research analysts anticipate that Teck Resources Ltd will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be given a dividend of $0.0918 per share. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.37 annualized dividend and a yield of 1.2%. Teck Resources’s payout ratio is presently 94.74%.

Analyst Ratings Changes

Several brokerages have recently issued reports on TECK. Veritas raised shares of Teck Resources to a “hold” rating in a report on Friday, April 11th. Benchmark decreased their price target on shares of Teck Resources from $55.00 to $48.00 and set a “buy” rating for the company in a report on Monday, July 28th. UBS Group reissued a “neutral” rating on shares of Teck Resources in a report on Tuesday, April 15th. National Bank Financial raised shares of Teck Resources from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 24th. Finally, Desjardins lowered shares of Teck Resources from a “buy” rating to a “hold” rating in a report on Friday, July 18th. Thirteen investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $60.11.

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.