Leonteq Securities AG Makes New Investment in Teck Resources Ltd $TECK

Leonteq Securities AG bought a new position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) in the 4th quarter, Holdings Channel.com reports. The fund bought 9,077 shares of the basic materials company’s stock, valued at approximately $435,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. increased its position 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 purchasing an additional 4,474,637 shares during the last quarter. Alps Advisors Inc. increased its position in shares of Teck Resources by 37.3% in the 3rd 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 during the last quarter. Regal Partners Ltd increased its position in shares of Teck Resources by 14.8% in the 3rd quarter. Regal Partners Ltd now owns 3,481,836 shares of the basic materials company’s stock worth $152,818,000 after purchasing an additional 448,081 shares during the last quarter. 44 Wealth Management LLC increased its position 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. Finally, Union Bancaire Privee UBP SA increased its position in shares of Teck Resources by 172.8% in the 4th quarter. Union Bancaire Privee UBP SA now owns 23,560 shares of the basic materials company’s stock worth $1,128,000 after purchasing an additional 14,924 shares during the last quarter. Institutional investors own 78.06% of the company’s stock.

Teck Resources Price Performance

Shares of NYSE:TECK opened at $62.59 on Friday. The company has a quick ratio of 2.16, a current ratio of 2.83 and a debt-to-equity ratio of 0.13. Teck Resources Ltd has a fifty-two week low of $30.98 and a fifty-two week high of $67.67. The firm has a 50-day simple moving average of $56.30 and a 200 day simple moving average of $51.87. The company has a market cap of $30.17 billion, a PE ratio of 22.93, a P/E/G ratio of 4.59 and a beta of 0.86.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Thursday, February 19th. The basic materials company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.39. Teck Resources had a net margin of 14.91% and a return on equity of 7.94%. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Teck Resources Ltd will post 2.68 EPS for the current year.

Teck Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, June 15th. Teck Resources’s dividend payout ratio is currently 13.55%.

Analysts Set New Price Targets

Several research firms have recently weighed in on TECK. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Teck Resources in a research report on Friday, May 15th. Scotiabank reissued a “sector perform” rating on shares of Teck Resources in a research report on Tuesday, April 14th. Truist Financial set a $67.00 target price on shares of Teck Resources in a research report on Monday, February 23rd. JPMorgan Chase & Co. boosted their target price on shares of Teck Resources from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Finally, Citigroup raised shares of Teck Resources from a “neutral” rating to a “buy” rating in a research report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and thirteen have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $59.17.

Teck Resources 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.