TD Waterhouse Canada Inc. Cuts Stake in Teck Resources Ltd $TECK

TD Waterhouse Canada Inc. lessened its stake in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 3.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,815,321 shares of the basic materials company’s stock after selling 57,982 shares during the period. TD Waterhouse Canada Inc. owned about 0.38% of Teck Resources worth $72,551,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC increased its stake in shares of Teck Resources by 0.6% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 104,737 shares of the basic materials company’s stock worth $4,229,000 after purchasing an additional 588 shares during the last quarter. Cetera Investment Advisers grew its holdings in Teck Resources by 0.9% during the second quarter. Cetera Investment Advisers now owns 70,548 shares of the basic materials company’s stock valued at $2,849,000 after purchasing an additional 663 shares during the period. Creative Planning grew its holdings in Teck Resources by 101.5% during the second quarter. Creative Planning now owns 99,765 shares of the basic materials company’s stock valued at $4,029,000 after purchasing an additional 50,243 shares during the period. ABN Amro Investment Solutions purchased a new stake in Teck Resources in the second quarter worth $6,850,000. Finally, Candriam S.C.A. raised its stake in shares of Teck Resources by 50.1% in the second quarter. Candriam S.C.A. now owns 14,308 shares of the basic materials company’s stock valued at $577,000 after buying an additional 4,776 shares during the period. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Teck Resources Trading Down 3.4%

Shares of TECK opened at $39.04 on Wednesday. Teck Resources Ltd has a twelve month low of $28.32 and a twelve month high of $48.47. The stock has a market cap of $18.76 billion, a PE ratio of 21.93, a P/E/G ratio of 0.74 and a beta of 0.90. The company has a quick ratio of 2.08, a current ratio of 2.78 and a debt-to-equity ratio of 0.15. The business’s 50-day moving average price is $42.08 and its 200-day moving average price is $38.25.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Wednesday, October 22nd. The basic materials company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.39 by $0.16. The company had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.93 billion. Teck Resources had a net margin of 11.93% and a return on equity of 4.14%. Teck Resources’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.60 earnings per share. On average, equities analysts forecast that Teck Resources Ltd will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be given a dividend of $0.125 per share. This is an increase from Teck Resources’s previous quarterly dividend of $0.09. The ex-dividend date is Monday, December 15th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.3%. Teck Resources’s dividend payout ratio (DPR) is presently 19.66%.

Analyst Ratings Changes

TECK has been the subject of several research reports. Scotiabank downgraded Teck Resources from an “outperform” rating to a “hold” rating in a research note on Thursday, November 6th. Benchmark reiterated a “buy” rating on shares of Teck Resources in a research report on Thursday, October 23rd. JPMorgan Chase & Co. lifted their target price on shares of Teck Resources from $41.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, October 9th. Canaccord Genuity Group cut shares of Teck Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Teck Resources from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a report on Monday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Teck Resources currently has a consensus rating of “Hold” and a consensus target price of $54.00.

Teck Resources 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.