7,900 Shares in Teck Resources Ltd $TECK Purchased by Cardinal Point Capital Management ULC

Cardinal Point Capital Management ULC purchased a new position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,900 shares of the basic materials company’s stock, valued at approximately $379,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its holdings in shares of Teck Resources by 36.1% in the 3rd quarter. Principal Financial Group Inc. now owns 16,879,229 shares of the basic materials company’s stock worth $740,604,000 after buying an additional 4,474,637 shares during the period. Alps Advisors Inc. grew its position in shares of Teck Resources by 37.3% in the 3rd quarter. Alps Advisors Inc. now owns 166,334 shares of the basic materials company’s stock worth $7,300,000 after buying an additional 45,194 shares during the last quarter. Regal Partners Ltd increased its position in shares of Teck Resources by 14.8% during the third quarter. Regal Partners Ltd now owns 3,481,836 shares of the basic materials company’s stock worth $152,818,000 after purchasing an additional 448,081 shares in the last quarter. 44 Wealth Management LLC raised its stake in Teck Resources by 250.8% in the third quarter. 44 Wealth Management LLC now owns 31,077 shares of the basic materials company’s stock valued at $1,364,000 after buying an additional 22,219 shares during the last quarter. Finally, Union Bancaire Privee UBP SA raised its position in shares of Teck Resources by 172.8% in the 4th quarter. Union Bancaire Privee UBP SA now owns 23,560 shares of the basic materials company’s stock valued at $1,128,000 after purchasing an additional 14,924 shares during the last quarter. Institutional investors own 78.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TECK. Veritas raised Teck Resources from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 15th. JPMorgan Chase & Co. lifted their price objective on shares of Teck Resources from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, May 1st. UBS Group restated a “buy” rating on shares of Teck Resources in a research report on Tuesday, January 27th. TD Securities reaffirmed a “hold” rating on shares of Teck Resources in a research note on Friday, April 24th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $62.00 price objective on shares of Teck Resources in a report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $59.17.

Teck Resources Price Performance

TECK opened at $65.42 on Friday. 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 market cap of $31.53 billion, a price-to-earnings ratio of 23.96, a PEG ratio of 4.90 and a beta of 0.86. The stock’s 50-day moving average price is $55.27 and its 200 day moving average price is $51.16. Teck Resources Ltd has a 12-month low of $30.98 and a 12-month high of $67.67.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Thursday, February 19th. The basic materials company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.39. Teck Resources had a return on equity of 7.94% and a net margin of 14.91%.The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the prior year, the company earned $0.45 earnings per share. The company’s revenue was up 9.8% on a year-over-year basis. As a group, sell-side analysts expect that Teck Resources Ltd will post 2.68 earnings per share for the current year.

Teck Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a $0.125 dividend. The ex-dividend date of this dividend is Monday, June 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 13.55%.

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.