GSA Capital Partners LLP Trims Stock Holdings in Teck Resources Ltd (NYSE:TECK)

GSA Capital Partners LLP decreased its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 3.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 52,118 shares of the basic materials company’s stock after selling 1,766 shares during the period. GSA Capital Partners LLP’s holdings in Teck Resources were worth $1,899,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Mackenzie Financial Corp increased its stake in shares of Teck Resources by 2.3% in the first quarter. Mackenzie Financial Corp now owns 6,020,429 shares of the basic materials company’s stock worth $219,297,000 after purchasing an additional 137,886 shares in the last quarter. LPL Financial LLC increased its stake in shares of Teck Resources by 5.2% in the first quarter. LPL Financial LLC now owns 160,256 shares of the basic materials company’s stock worth $5,838,000 after purchasing an additional 7,929 shares in the last quarter. RWC Asset Management LLP increased its stake in shares of Teck Resources by 7.0% in the first quarter. RWC Asset Management LLP now owns 342,249 shares of the basic materials company’s stock worth $12,468,000 after purchasing an additional 22,402 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Teck Resources by 1.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 186,512 shares of the basic materials company’s stock worth $6,793,000 after purchasing an additional 2,445 shares in the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of Teck Resources in the first quarter worth about $22,284,000. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Analysts Set New Price Targets

TECK has been the subject of several recent research reports. CIBC downgraded shares of Teck Resources from a “sector outperform” rating to a “neutral” rating in a research note on Friday. Desjardins downgraded shares of Teck Resources from a “buy” rating to a “hold” rating in a research note on Friday, July 18th. Stifel Nicolaus began coverage on shares of Teck Resources in a research report on Wednesday, July 9th. They issued a “hold” rating for the company. Veritas upgraded shares of Teck Resources to a “hold” rating in a research report on Friday, April 11th. Finally, Royal Bank Of Canada cut their price objective on shares of Teck Resources from $82.00 to $67.00 and set an “outperform” rating for the company in a research report on Friday. Thirteen investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Teck Resources presently has an average rating of “Hold” and an average target price of $60.11.

Teck Resources Trading Up 2.3%

Shares of Teck Resources stock opened at $33.77 on Tuesday. Teck Resources Ltd has a 1 year low of $28.32 and a 1 year high of $54.13. The firm has a market cap of $16.31 billion, a PE ratio of 88.87, a PEG ratio of 0.52 and a beta of 0.80. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.36 and a quick ratio of 2.57. The company has a 50 day simple moving average of $38.13 and a two-hundred day simple moving average of $38.48.

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

Teck Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be given a dividend of $0.0918 per share. The ex-dividend date of this dividend is Monday, September 15th. This is a positive change from Teck Resources’s previous quarterly dividend of $0.09. This represents a $0.37 annualized dividend and a yield of 1.09%. Teck Resources’s payout ratio is presently 94.74%.

Teck Resources 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.