Calamos Advisors LLC Takes Position in Teck Resources Ltd $TECK

Calamos Advisors LLC bought a new position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 131,000 shares of the basic materials company’s stock, valued at approximately $5,290,000.

A number of other large investors have also added to or reduced their stakes in TECK. Canoe Financial LP acquired a new stake in Teck Resources during the 2nd quarter valued at $97,536,000. Temasek Holdings Private Ltd raised its position in shares of Teck Resources by 125.8% in the first quarter. Temasek Holdings Private Ltd now owns 2,479,555 shares of the basic materials company’s stock valued at $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 1st quarter worth about $46,478,000. Ninety One UK Ltd lifted its stake in shares of Teck Resources by 436.6% during the 2nd quarter. Ninety One UK Ltd now owns 1,480,334 shares of the basic materials company’s stock worth $59,768,000 after buying an additional 1,204,440 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Teck Resources by 168.9% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,879,437 shares of the basic materials company’s stock worth $76,054,000 after buying an additional 1,180,519 shares during the period. Institutional investors own 78.06% of the company’s stock.

Teck Resources Trading Down 4.2%

Shares of TECK stock opened at $41.91 on Friday. The stock has a market cap of $20.14 billion, a P/E ratio of 23.54, a price-to-earnings-growth ratio of 0.74 and a beta of 0.90. Teck Resources Ltd has a 1 year low of $28.32 and a 1 year high of $48.47. The company has a current ratio of 2.78, a quick ratio of 2.08 and a debt-to-equity ratio of 0.15. The stock has a 50 day simple moving average of $41.84 and a 200 day simple moving average of $38.09.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Wednesday, October 22nd. The basic materials company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.16. The firm had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.93 billion. Teck Resources had a return on equity of 4.14% and a net margin of 11.93%.The company’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.60 EPS. On average, research analysts predict that Teck Resources Ltd will post 1.53 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

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

Analyst Ratings Changes

Several research firms have weighed in on TECK. Cibc World Mkts cut shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, July 25th. B. Riley lowered Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, July 28th. Scotiabank cut Teck Resources from an “outperform” rating to a “hold” rating in a report on Thursday, November 6th. Royal Bank Of Canada decreased their price objective on Teck Resources from $82.00 to $67.00 and set an “outperform” rating on the stock in a report on Friday, July 25th. Finally, CIBC cut Teck Resources from a “sector outperform” rating to a “neutral” rating in a research report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Teck Resources has an average rating of “Hold” and a consensus target price of $54.00.

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.