Westerkirk Capital Inc. Makes New $932,000 Investment in Teck Resources Ltd $TECK

Westerkirk Capital Inc. acquired a new position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 23,080 shares of the basic materials company’s stock, valued at approximately $932,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Smartleaf Asset Management LLC grew its stake in Teck Resources by 69.2% during the first quarter. Smartleaf Asset Management LLC now owns 856 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 350 shares during the period. Costello Asset Management INC acquired a new position in Teck Resources in the first quarter valued at approximately $33,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Teck Resources during the 2nd quarter worth approximately $49,000. MassMutual Private Wealth & Trust FSB grew its position in shares of Teck Resources by 102.5% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,320 shares of the basic materials company’s stock worth $53,000 after buying an additional 668 shares during the period. Finally, Tobam acquired a new stake in shares of Teck Resources during the 2nd quarter worth approximately $62,000. 78.06% of the stock is owned by institutional investors and hedge funds.

Teck Resources Trading Down 0.2%

NYSE:TECK opened at $43.22 on Wednesday. Teck Resources Ltd has a one year low of $28.32 and a one year high of $48.47. The company has a market cap of $20.77 billion, a PE ratio of 24.28, a PEG ratio of 0.74 and a beta of 0.90. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.78 and a quick ratio of 2.08. The firm has a 50-day moving average of $42.36 and a 200-day moving average of $38.64.

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, topping analysts’ consensus estimates of $0.39 by $0.16. The firm had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.93 billion. Teck Resources had a return on equity of 4.14% and a net margin of 11.93%.The company’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 EPS. As a group, equities research analysts expect that Teck Resources Ltd will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Monday, December 15th. This is an increase from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s payout ratio is currently 19.66%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TECK. Raymond James Financial reiterated an “outperform” rating on shares of Teck Resources in a research report on Friday, October 10th. UBS Group upgraded shares of Teck Resources from a “neutral” rating to a “buy” rating in a report on Wednesday, September 3rd. Scotiabank reissued a “sector perform” rating on shares of Teck Resources in a research report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $46.00 target price on shares of Teck Resources in a research note on Wednesday, November 26th. Finally, Benchmark reaffirmed a “buy” rating on shares of Teck Resources in a research note on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Teck Resources currently has a consensus rating of “Hold” and an average target price of $54.57.

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.