611,699 Shares in Teck Resources Ltd (NYSE:TECK) Purchased by Kapitalo Investimentos Ltda

Kapitalo Investimentos Ltda purchased a new position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 611,699 shares of the basic materials company’s stock, valued at approximately $22,284,000. Teck Resources comprises approximately 4.5% of Kapitalo Investimentos Ltda’s holdings, making the stock its 7th biggest position. Kapitalo Investimentos Ltda owned about 0.12% of Teck Resources at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC lifted its position in shares of Teck Resources by 2.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 13,959 shares of the basic materials company’s stock valued at $566,000 after acquiring an additional 302 shares during the period. Sei Investments Co. lifted its position in shares of Teck Resources by 6.9% during the 4th quarter. Sei Investments Co. now owns 165,150 shares of the basic materials company’s stock valued at $6,693,000 after acquiring an additional 10,699 shares during the period. LPL Financial LLC lifted its position in shares of Teck Resources by 5.1% during the 4th quarter. LPL Financial LLC now owns 152,327 shares of the basic materials company’s stock valued at $6,174,000 after acquiring an additional 7,400 shares during the period. Vanguard Group Inc. lifted its position in shares of Teck Resources by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 19,316,132 shares of the basic materials company’s stock valued at $783,153,000 after acquiring an additional 58,985 shares during the period. Finally, Norges Bank acquired a new stake in shares of Teck Resources during the 4th quarter valued at approximately $470,101,000. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Analyst Ratings Changes

TECK has been the subject of a number of research reports. Morgan Stanley downgraded shares of Teck Resources from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $42.00 to $44.00 in a research report on Tuesday, July 15th. Stifel Canada upgraded shares of Teck Resources to a “hold” rating in a research report on Tuesday, July 8th. Desjardins downgraded shares of Teck Resources from a “buy” rating to a “hold” rating in a research report on Friday, July 18th. CIBC downgraded Teck Resources from a “sector outperform” rating to a “neutral” rating in a research report on Friday. Finally, BMO Capital Markets assumed coverage on Teck Resources in a research report on Wednesday, April 16th. They set an “outperform” rating for the company. Twelve investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Teck Resources has an average rating of “Hold” and an average target price of $61.63.

Teck Resources Trading Down 6.1%

Shares of TECK opened at $33.00 on Friday. The stock has a fifty day moving average of $38.17 and a two-hundred day moving average of $38.56. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.57 and a current ratio of 3.36. The company has a market capitalization of $15.94 billion, a PE ratio of 86.83, a price-to-earnings-growth ratio of 0.52 and a beta of 0.80. Teck Resources Ltd has a fifty-two week low of $28.32 and a fifty-two week high of $54.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Thursday, July 24th. The basic materials company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.07. The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $2.25 billion. Teck Resources had a return on equity of 3.87% and a net margin of 2.51%. Teck Resources’s revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.79 EPS. As a group, analysts forecast that Teck Resources Ltd will post 1.53 EPS for the current year.

Teck Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be issued a $0.0918 dividend. The ex-dividend date is Monday, September 15th. This is an increase from Teck Resources’s previous quarterly dividend of $0.09. This represents a $0.37 annualized dividend and a yield of 1.11%. Teck Resources’s payout ratio is 94.74%.

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.