CENTRAL TRUST Co Has $871,000 Stake in Teck Resources Ltd $TECK

CENTRAL TRUST Co reduced its position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 9.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,572 shares of the basic materials company’s stock after selling 2,256 shares during the quarter. CENTRAL TRUST Co’s holdings in Teck Resources were worth $871,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of TECK. Canoe Financial LP purchased a new position in shares of Teck Resources during the second quarter valued at $97,536,000. Temasek Holdings Private Ltd grew its stake in Teck Resources by 125.8% during the 1st quarter. Temasek Holdings Private Ltd now owns 2,479,555 shares of the basic materials company’s stock valued at $90,330,000 after acquiring an additional 1,381,355 shares in the last quarter. Carrhae Capital LLP purchased a new position in Teck Resources during the 1st quarter valued at about $46,478,000. Ninety One UK Ltd increased its holdings in shares of Teck Resources by 436.6% in the 2nd quarter. Ninety One UK Ltd now owns 1,480,334 shares of the basic materials company’s stock valued at $59,768,000 after purchasing an additional 1,204,440 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Teck Resources by 168.9% in the second 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 purchasing an additional 1,180,519 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Trading Up 1.8%

NYSE:TECK opened at $43.70 on Thursday. The company’s 50 day moving average is $41.66 and its 200-day moving average is $38.06. The company has a quick ratio of 2.08, a current ratio of 2.78 and a debt-to-equity ratio of 0.15. Teck Resources Ltd has a 12 month low of $28.32 and a 12 month high of $48.47. The firm has a market cap of $21.00 billion, a price-to-earnings ratio of 24.55, a P/E/G ratio of 0.74 and a beta of 0.90.

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

Teck Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be given a $0.125 dividend. This is an increase from Teck Resources’s previous quarterly dividend of $0.09. This represents a $0.50 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, December 15th. Teck Resources’s dividend payout ratio (DPR) is 19.66%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Wall Street Zen raised shares of Teck Resources from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. B. Riley lowered shares of Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, July 28th. Citigroup restated a “neutral” rating on shares of Teck Resources in a report on Wednesday, October 8th. Canaccord Genuity Group downgraded shares of Teck Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lifted their price objective on Teck Resources from $41.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $54.00.

Teck Resources 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.