Teck Resources Ltd $TECK Shares Bought by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC lifted its position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 321.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 203,714 shares of the basic materials company’s stock after acquiring an additional 155,365 shares during the period. Lighthouse Investment Partners LLC’s holdings in Teck Resources were worth $8,941,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. ASR Vermogensbeheer N.V. boosted its stake in Teck Resources by 1.6% during the 3rd quarter. ASR Vermogensbeheer N.V. now owns 16,721 shares of the basic materials company’s stock valued at $734,000 after purchasing an additional 270 shares during the period. Smartleaf Asset Management LLC grew its position in Teck Resources by 72.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 351 shares during the last quarter. CWM LLC increased its stake in shares of Teck Resources by 22.7% in the third quarter. CWM LLC now owns 2,078 shares of the basic materials company’s stock valued at $91,000 after purchasing an additional 384 shares during the period. GSA Capital Partners LLP raised its holdings in shares of Teck Resources by 1.0% during the third quarter. GSA Capital Partners LLP now owns 40,941 shares of the basic materials company’s stock valued at $1,797,000 after buying an additional 409 shares during the last quarter. Finally, VestGen Advisors LLC raised its holdings in shares of Teck Resources by 7.9% during the second quarter. VestGen Advisors LLC now owns 6,353 shares of the basic materials company’s stock valued at $257,000 after buying an additional 467 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on TECK shares. Benchmark increased their price objective on Teck Resources from $48.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Truist Financial set a $67.00 target price on Teck Resources in a research note on Monday, February 23rd. National Bank Financial lowered Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 5th. JPMorgan Chase & Co. increased their price target on Teck Resources from $43.00 to $51.00 and gave the stock a “neutral” rating in a research note on Friday, December 5th. Finally, TD Securities reissued a “hold” rating on shares of Teck Resources in a report on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, Teck Resources currently has an average rating of “Hold” and an average target price of $57.00.

Teck Resources Trading Down 4.6%

Teck Resources stock opened at $49.51 on Monday. Teck Resources Ltd has a 12-month low of $28.32 and a 12-month high of $62.41. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.54 and a quick ratio of 1.91. The stock has a market capitalization of $23.83 billion, a PE ratio of 24.51, a price-to-earnings-growth ratio of 3.02 and a beta of 0.77. The firm has a 50 day simple moving average of $54.81 and a 200-day simple moving average of $46.61.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Thursday, February 19th. The basic materials company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.59 by $0.39. The firm had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.28 billion. Teck Resources had a return on equity of 5.90% and a net margin of 12.98%.The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.45 earnings per share. As a group, equities research analysts expect that Teck Resources Ltd will post 1.53 EPS for the current fiscal year.

Teck Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, March 13th. Teck Resources’s payout ratio is currently 18.32%.

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.