Kapitalo Investimentos Ltda Acquires 50,000 Shares of Teck Resources Ltd $TECK

Kapitalo Investimentos Ltda boosted its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 16.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 352,859 shares of the basic materials company’s stock after buying an additional 50,000 shares during the quarter. Teck Resources accounts for approximately 3.4% of Kapitalo Investimentos Ltda’s holdings, making the stock its 11th biggest position. Kapitalo Investimentos Ltda’s holdings in Teck Resources were worth $18,260,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of TECK. Welch Group LLC boosted its holdings in shares of Teck Resources by 3.5% during the 4th quarter. Welch Group LLC now owns 5,899 shares of the basic materials company’s stock valued at $283,000 after acquiring an additional 199 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Teck Resources by 117.4% during the first quarter. Geneos Wealth Management Inc. now owns 561 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 303 shares during the last quarter. Compound Planning Inc. lifted its position in Teck Resources by 1.0% during the fourth quarter. Compound Planning Inc. now owns 32,266 shares of the basic materials company’s stock valued at $1,545,000 after purchasing an additional 333 shares during the period. 44 Wealth Management LLC lifted its position in Teck Resources by 1.3% during the fourth quarter. 44 Wealth Management LLC now owns 31,488 shares of the basic materials company’s stock valued at $1,508,000 after purchasing an additional 411 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in Teck Resources by 5.5% in the third quarter. NewEdge Advisors LLC now owns 8,635 shares of the basic materials company’s stock worth $379,000 after purchasing an additional 452 shares during the last quarter. Institutional investors own 78.06% of the company’s stock.

Teck Resources Stock Performance

Shares of NYSE TECK opened at $54.54 on Tuesday. Teck Resources Ltd has a 12-month low of $30.98 and a 12-month high of $71.25. The firm has a market capitalization of $26.33 billion, a price-to-earnings ratio of 19.98, a price-to-earnings-growth ratio of 1.63 and a beta of 0.92. The company has a current ratio of 2.83, a quick ratio of 2.16 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average of $61.96 and a 200 day moving average of $57.26.

Teck Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.9%. Teck Resources’s payout ratio is presently 13.19%.

Wall Street Analyst Weigh In

TECK has been the subject of a number of research reports. Veritas lowered shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 4th. TD Securities restated a “hold” rating on shares of Teck Resources in a research note on Friday, April 24th. Zacks Research lowered Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft upped their price objective on Teck Resources from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Finally, JPMorgan Chase & Co. lowered their target price on Teck Resources from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Thursday, July 9th. Five research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $63.00.

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.