Vanguard Capital Wealth Advisors Purchases New Holdings in Teck Resources Ltd $TECK

Vanguard Capital Wealth Advisors bought a new stake in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 10,200 shares of the basic materials company’s stock, valued at approximately $488,000.

Other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its holdings in shares of Teck Resources by 36.1% in the 3rd quarter. Principal Financial Group Inc. now owns 16,879,229 shares of the basic materials company’s stock worth $740,604,000 after acquiring an additional 4,474,637 shares during the period. Alps Advisors Inc. raised its holdings in Teck Resources by 37.3% during the third quarter. Alps Advisors Inc. now owns 166,334 shares of the basic materials company’s stock worth $7,300,000 after purchasing an additional 45,194 shares in the last quarter. Regal Partners Ltd lifted its holdings in shares of Teck Resources by 14.8% in the third quarter. Regal Partners Ltd now owns 3,481,836 shares of the basic materials company’s stock valued at $152,818,000 after buying an additional 448,081 shares during the period. Invesco Ltd. lifted its holdings in Teck Resources by 10.8% in the 2nd quarter. Invesco Ltd. now owns 5,565,955 shares of the basic materials company’s stock valued at $224,753,000 after acquiring an additional 543,554 shares during the last quarter. Finally, 44 Wealth Management LLC grew its stake in shares of Teck Resources by 250.8% in the 3rd quarter. 44 Wealth Management LLC now owns 31,077 shares of the basic materials company’s stock worth $1,364,000 after purchasing an additional 22,219 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Trading Down 0.8%

TECK stock opened at $52.78 on Friday. The business has a fifty day moving average price of $54.44 and a 200 day moving average price of $47.75. The stock has a market capitalization of $25.41 billion, a price-to-earnings ratio of 26.13, a P/E/G ratio of 2.81 and a beta of 0.85. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.54 and a quick ratio of 1.91. Teck Resources Ltd has a fifty-two week low of $28.32 and a fifty-two week high of $62.41.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Thursday, February 19th. The basic materials company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.59 by $0.39. The company had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Teck Resources had a return on equity of 5.90% and a net margin of 12.98%.The business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the firm earned $0.45 EPS. Analysts expect that Teck Resources Ltd will post 1.53 EPS for the current fiscal year.

Teck Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Friday, March 13th. Teck Resources’s dividend payout ratio is 18.32%.

Analysts Set New Price Targets

TECK has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their price objective on Teck Resources from $43.00 to $51.00 and gave the stock a “neutral” rating in a report on Friday, December 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Teck Resources in a research report on Wednesday, January 21st. Citigroup upgraded shares of Teck Resources from a “neutral” rating to a “buy” rating in a research note on Monday, February 2nd. Benchmark boosted their target price on Teck Resources from $48.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Finally, UBS Group restated a “buy” rating on shares of Teck Resources in a report on Tuesday, January 27th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $57.00.

Teck Resources Company Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.