Gemsstock Ltd. Lowers Stake in Teck Resources Ltd (NYSE:TECK)

Gemsstock Ltd. decreased its position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 0.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 471,670 shares of the basic materials company’s stock after selling 1,500 shares during the quarter. Teck Resources makes up 6.5% of Gemsstock Ltd.’s portfolio, making the stock its 4th biggest holding. Gemsstock Ltd. owned 0.10% of Teck Resources worth $17,183,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Rockefeller Capital Management L.P. raised its stake in shares of Teck Resources by 2.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 13,511 shares of the basic materials company’s stock worth $548,000 after buying an additional 335 shares during the period. Vontobel Holding Ltd. raised its stake in shares of Teck Resources by 0.5% in the first quarter. Vontobel Holding Ltd. now owns 88,303 shares of the basic materials company’s stock worth $3,217,000 after buying an additional 400 shares during the period. Assetmark Inc. raised its stake in shares of Teck Resources by 2.4% in the first quarter. Assetmark Inc. now owns 19,945 shares of the basic materials company’s stock worth $727,000 after buying an additional 471 shares during the period. Ervin Investment Management LLC raised its stake in shares of Teck Resources by 5.1% in the first quarter. Ervin Investment Management LLC now owns 10,980 shares of the basic materials company’s stock worth $400,000 after buying an additional 535 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Teck Resources by 1.0% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 53,616 shares of the basic materials company’s stock worth $1,953,000 after buying an additional 535 shares during the period. Institutional investors own 78.06% of the company’s stock.

Teck Resources Price Performance

Shares of Teck Resources stock opened at $32.29 on Tuesday. The stock has a market cap of $15.60 billion, a price-to-earnings ratio of 84.99, a price-to-earnings-growth ratio of 0.53 and a beta of 0.81. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.45 and a current ratio of 3.47. The stock has a 50 day moving average price of $37.29 and a 200-day moving average price of $37.75. Teck Resources Ltd has a one year low of $28.32 and a one year high of $54.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Thursday, July 24th. The basic materials company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.07. The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $2.25 billion. Teck Resources had a return on equity of 3.91% and a net margin of 2.51%. The company’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.79 EPS. Equities analysts expect that Teck Resources Ltd will post 1.53 EPS for the current year.

Teck Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be paid a dividend of $0.0918 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.37 dividend on an annualized basis and a dividend yield of 1.1%. This is an increase from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s dividend payout ratio is 94.74%.

Wall Street Analyst Weigh In

Several research firms have recently commented on TECK. Morgan Stanley downgraded Teck Resources from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $42.00 to $44.00 in a research note on Tuesday, July 15th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $41.00 target price (down previously from $46.00) on shares of Teck Resources in a research report on Friday, July 25th. CIBC cut Teck Resources from a “sector outperform” rating to a “neutral” rating in a research report on Friday, July 25th. Wall Street Zen upgraded Teck Resources from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, National Bankshares upgraded Teck Resources from a “sector perform” rating to an “outperform” rating in a research report on Thursday, April 24th. Thirteen equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Teck Resources currently has a consensus rating of “Hold” and an average target price of $60.11.

About Teck Resources

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.