Teck Resources Ltd $TECK Shares Sold by Louisbourg Investments Inc.

Louisbourg Investments Inc. decreased its position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 7.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 98,173 shares of the basic materials company’s stock after selling 7,951 shares during the quarter. Louisbourg Investments Inc.’s holdings in Teck Resources were worth $3,963,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of TECK. Principal Financial Group Inc. lifted its holdings in shares of Teck Resources by 56.9% during the first quarter. Principal Financial Group Inc. now owns 11,530,742 shares of the basic materials company’s stock worth $419,970,000 after purchasing an additional 4,180,623 shares during the period. Canoe Financial LP acquired a new stake in shares of Teck Resources during the second quarter worth about $97,536,000. Temasek Holdings Private Ltd lifted its holdings in shares of Teck Resources by 125.8% during the first quarter. Temasek Holdings Private Ltd now owns 2,479,555 shares of the basic materials company’s stock worth $90,330,000 after purchasing an additional 1,381,355 shares during the period. Carrhae Capital LLP acquired a new stake in shares of Teck Resources during the first quarter worth about $46,478,000. Finally, Ninety One UK Ltd lifted its holdings in shares of Teck Resources by 436.6% during the second quarter. Ninety One UK Ltd now owns 1,480,334 shares of the basic materials company’s stock worth $59,768,000 after purchasing an additional 1,204,440 shares during the period. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Trading Down 4.5%

Shares of TECK stock opened at $41.90 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.47 and a quick ratio of 2.45. The company has a market cap of $20.13 billion, a price-to-earnings ratio of 110.28, a PEG ratio of 0.56 and a beta of 0.92. The stock has a 50 day simple moving average of $37.04 and a 200-day simple moving average of $36.62. Teck Resources Ltd has a 1-year low of $28.32 and a 1-year high of $51.58.

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 for the quarter, topping the consensus estimate of $0.20 by $0.07. The business 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 3.91% and a net margin of 2.51%.The business’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.79 EPS. On average, equities research analysts expect that Teck Resources Ltd will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were paid a dividend of $0.0918 per share. This represents a $0.37 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, September 15th. This is a positive change from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s dividend payout ratio is currently 94.74%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TECK shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Teck Resources in a report on Wednesday. Raymond James Financial reissued an “outperform” rating on shares of Teck Resources in a report on Friday. CIBC downgraded Teck Resources from a “sector outperform” rating to a “neutral” rating in a report on Friday, July 25th. Deutsche Bank Aktiengesellschaft raised Teck Resources from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a report on Monday, September 8th. Finally, Scotiabank reissued an “outperform” rating on shares of Teck Resources in a report on Wednesday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $54.00.

About Teck Resources

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.