Mirabella Financial Services LLP Purchases 13,437 Shares of Teck Resources Ltd $TECK

Mirabella Financial Services LLP grew its position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 52.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,037 shares of the basic materials company’s stock after purchasing an additional 13,437 shares during the quarter. Mirabella Financial Services LLP’s holdings in Teck Resources were worth $1,713,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in Teck Resources during the 2nd quarter worth approximately $437,657,000. 1832 Asset Management L.P. boosted its stake in Teck Resources by 1,555.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 5,738,457 shares of the basic materials company’s stock valued at $231,719,000 after purchasing an additional 5,391,907 shares during the period. Principal Financial Group Inc. grew its holdings in 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 valued at $740,604,000 after buying an additional 4,474,637 shares in the last quarter. Wellington Management Group LLP grew its holdings in Teck Resources by 264.5% in the 3rd quarter. Wellington Management Group LLP now owns 5,781,060 shares of the basic materials company’s stock valued at $253,695,000 after buying an additional 4,194,868 shares in the last quarter. Finally, Pentwater Capital Management LP increased its position in Teck Resources by 7,150.0% during the 3rd quarter. Pentwater Capital Management LP now owns 2,900,000 shares of the basic materials company’s stock worth $127,281,000 after buying an additional 2,860,000 shares during the period. Institutional investors own 78.06% of the company’s stock.

Teck Resources Price Performance

Shares of NYSE TECK opened at $47.37 on Friday. The stock has a market capitalization of $22.80 billion, a PE ratio of 23.45, a P/E/G ratio of 2.98 and a beta of 0.77. 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 business has a fifty day moving average price of $54.73 and a two-hundred day moving average price of $46.85. Teck Resources Ltd has a fifty-two week low of $28.32 and a fifty-two week high of $62.41.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Thursday, February 19th. The basic materials company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.39. Teck Resources had a return on equity of 5.90% and a net margin of 12.98%.The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same period in the prior year, the firm posted $0.45 EPS. Teck Resources’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, equities analysts predict that Teck Resources Ltd will post 1.53 earnings per share 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. Investors of record on Friday, March 13th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.50 annualized dividend and a yield of 1.1%. Teck Resources’s dividend payout ratio is currently 18.32%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TECK. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $46.00 target price on shares of Teck Resources in a report on Wednesday, November 26th. Truist Financial set a $67.00 price target on shares of Teck Resources in a research note on Monday, February 23rd. Benchmark raised their price target on shares of Teck Resources from $48.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, February 23rd. Veritas upgraded shares of Teck Resources from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 15th. Finally, Citigroup raised shares of Teck Resources from a “neutral” rating to a “buy” rating in a report on Monday, February 2nd. One investment 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. According to MarketBeat, Teck Resources has a consensus rating of “Hold” and an average price target of $57.00.

About Teck Resources

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.