Quadrant Capital Group LLC Trims Stock Holdings in Teck Resources Ltd $TECK

Quadrant Capital Group LLC lowered its stake in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 12.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,069 shares of the basic materials company’s stock after selling 2,524 shares during the quarter. Quadrant Capital Group LLC’s holdings in Teck Resources were worth $730,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Drummond Knight Asset Management Pty Ltd grew its stake in shares of Teck Resources by 32.6% during the 2nd quarter. Drummond Knight Asset Management Pty Ltd now owns 322,530 shares of the basic materials company’s stock valued at $13,024,000 after acquiring an additional 79,302 shares during the period. Northwest & Ethical Investments L.P. lifted its holdings in Teck Resources by 16.1% during the second quarter. Northwest & Ethical Investments L.P. now owns 157,645 shares of the basic materials company’s stock valued at $6,402,000 after purchasing an additional 21,900 shares in the last quarter. Boston Partners boosted its position in shares of Teck Resources by 1.2% in the second quarter. Boston Partners now owns 9,365,206 shares of the basic materials company’s stock worth $378,167,000 after purchasing an additional 113,431 shares during the period. Laurel Wealth Advisors LLC purchased a new stake in shares of Teck Resources in the second quarter worth $196,000. Finally, Aviso Financial Inc. raised its position in shares of Teck Resources by 31.7% during the 2nd quarter. Aviso Financial Inc. now owns 22,975 shares of the basic materials company’s stock valued at $929,000 after purchasing an additional 5,527 shares during the period. 78.06% of the stock is owned by hedge funds and other institutional investors.

Teck Resources Stock Up 0.9%

TECK opened at $43.29 on Tuesday. The company has a market capitalization of $20.81 billion, a PE ratio of 24.32, a price-to-earnings-growth ratio of 0.74 and a beta of 0.90. The firm has a 50-day simple moving average of $42.27 and a two-hundred day simple moving average of $38.59. The company has a quick ratio of 2.08, a current ratio of 2.78 and a debt-to-equity ratio of 0.15. Teck Resources Ltd has a 52 week low of $28.32 and a 52 week high of $48.47.

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

Teck Resources Increases Dividend

The company also recently announced 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. The ex-dividend date is Monday, December 15th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.2%. This is an increase from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s dividend payout ratio is currently 19.66%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Raymond James Financial reaffirmed an “outperform” rating on shares of Teck Resources in a report on Friday, October 10th. Weiss Ratings upgraded Teck Resources from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, October 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $46.00 price objective on shares of Teck Resources in a research note on Wednesday, November 26th. Citigroup reissued a “neutral” rating on shares of Teck Resources in a research note on Wednesday, October 8th. Finally, Scotiabank reissued a “sector perform” rating on shares of Teck Resources in a report on Tuesday, November 25th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Teck Resources has a consensus rating of “Hold” and an average target price of $54.57.

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.