Ninety One UK Ltd Purchases 203,568 Shares of Teck Resources Ltd $TECK

Ninety One UK Ltd boosted its position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 119.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 374,409 shares of the basic materials company’s stock after buying an additional 203,568 shares during the quarter. Ninety One UK Ltd’s holdings in Teck Resources were worth $24,632,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of TECK. Geneos Wealth Management Inc. raised its holdings in Teck Resources by 117.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 561 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 303 shares during the period. Blue Trust Inc. boosted its holdings in Teck Resources by 411.8% during the first quarter. Blue Trust Inc. now owns 563 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 453 shares during the period. Fortitude Family Office LLC bought a new stake in Teck Resources during the third quarter valued at about $46,000. Versant Capital Management Inc boosted its holdings in Teck Resources by 86.5% during the second quarter. Versant Capital Management Inc now owns 1,587 shares of the basic materials company’s stock valued at $94,000 after acquiring an additional 736 shares during the period. Finally, Oslo Pensjonsforsikring AS acquired a new stake in shares of Teck Resources in the first quarter valued at about $83,000. Institutional investors own 78.06% of the company’s stock.

Teck Resources Price Performance

NYSE:TECK opened at $65.80 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.12 and a quick ratio of 2.33. Teck Resources Ltd has a one year low of $38.00 and a one year high of $72.56. The company has a fifty day moving average price of $66.97 and a 200 day moving average price of $62.67. The stock has a market cap of $31.79 billion, a P/E ratio of 15.69, a PEG ratio of 2.08 and a beta of 1.01.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.40. The company had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.38 billion. Teck Resources had a net margin of 17.85% and a return on equity of 10.42%. The business’s quarterly revenue was up 78.2% on a year-over-year basis. During the same period last year, the business posted $0.38 EPS. Analysts anticipate that Teck Resources Ltd will post 4.28 earnings per share for the current year.

Teck Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th were given a dividend of C$0.12 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.8%. Teck Resources’s dividend payout ratio is currently 9.76%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TECK shares. Deutsche Bank Aktiengesellschaft lifted their price objective on Teck Resources from $64.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. JPMorgan Chase & Co. boosted their price objective on Teck Resources from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 28th. Wall Street Zen downgraded Teck Resources from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 26th. Weiss Ratings raised Teck Resources from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Finally, Raymond James Financial raised Teck Resources from a “market perform” rating to an “outperform” rating in a report on Thursday, July 23rd. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $62.25.

Teck Resources Profile

Teck Resources Limited is a Canadian mining and metals company headquartered in Vancouver, British Columbia. The company focuses primarily on the exploration, development and production of copper and zinc, which are used in construction, infrastructure, manufacturing and the global energy transition.

Teck’s copper operations include the Highland Valley Copper mine in British Columbia, the Carmen de Andacollo mine in Chile and the Quebrada Blanca operation in northern Chile. Its zinc business includes the Red Dog mine in Alaska, one of the world’s significant zinc-producing operations.