Bank of New York Mellon Corp Buys 38,179 Shares of Teck Resources Ltd $TECK

Bank of New York Mellon Corp grew its stake in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 2.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,753,295 shares of the basic materials company’s stock after acquiring an additional 38,179 shares during the period. Bank of New York Mellon Corp’s holdings in Teck Resources were worth $70,798,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. K.J. Harrison & Partners Inc raised its position in Teck Resources by 23.0% during the 2nd quarter. K.J. Harrison & Partners Inc now owns 107,020 shares of the basic materials company’s stock valued at $4,320,000 after purchasing an additional 20,000 shares in the last quarter. Atria Investments Inc lifted its stake in Teck Resources by 27.1% in the second quarter. Atria Investments Inc now owns 33,303 shares of the basic materials company’s stock worth $1,345,000 after acquiring an additional 7,095 shares during the period. Assetmark Inc. grew its holdings in Teck Resources by 2.1% during the 2nd quarter. Assetmark Inc. now owns 20,360 shares of the basic materials company’s stock worth $822,000 after acquiring an additional 415 shares in the last quarter. Envestnet Asset Management Inc. increased its position in Teck Resources by 3.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 548,732 shares of the basic materials company’s stock valued at $22,158,000 after purchasing an additional 17,744 shares during the period. Finally, Ingalls & Snyder LLC raised its holdings in shares of Teck Resources by 2.4% in the 2nd quarter. Ingalls & Snyder LLC now owns 425,095 shares of the basic materials company’s stock valued at $17,165,000 after purchasing an additional 10,000 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. B. Riley downgraded shares of Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, July 28th. UBS Group upgraded Teck Resources from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 3rd. Wall Street Zen upgraded shares of Teck Resources from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. CIBC lowered shares of Teck Resources from a “sector outperform” rating to a “neutral” rating in a research report on Friday, July 25th. Finally, Scotiabank downgraded shares of Teck Resources from an “outperform” rating to a “hold” rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $54.00.

Teck Resources Trading Down 1.0%

Shares of Teck Resources stock opened at $41.05 on Monday. The firm has a market cap of $19.72 billion, a PE ratio of 23.06, a P/E/G ratio of 0.74 and a beta of 0.90. Teck Resources Ltd has a fifty-two week low of $28.32 and a fifty-two week high of $49.71. The company has a quick ratio of 2.08, a current ratio of 2.78 and a debt-to-equity ratio of 0.15. The business’s fifty day moving average is $41.11 and its two-hundred day moving average is $37.93.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Wednesday, October 22nd. The basic materials company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.39 by $0.16. The firm had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.93 billion. Teck Resources had a net margin of 11.93% and a return on equity of 4.14%. Teck Resources’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.60 earnings per share. Analysts anticipate that Teck Resources Ltd will post 1.53 earnings per share for the current year.

Teck Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be issued a $0.125 dividend. This is a positive change from Teck Resources’s previous quarterly dividend of $0.09. The ex-dividend date is Monday, December 15th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.2%. Teck Resources’s dividend payout ratio (DPR) is 19.66%.

Teck Resources Company 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.