Louisbourg Investments Inc. Acquires 41,739 Shares of Teck Resources Ltd $TECK

Louisbourg Investments Inc. grew its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 42.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 139,912 shares of the basic materials company’s stock after purchasing an additional 41,739 shares during the quarter. Louisbourg Investments Inc.’s holdings in Teck Resources were worth $6,136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the business. Norges Bank bought a new stake in Teck Resources in the second quarter worth approximately $437,657,000. 1832 Asset Management L.P. boosted its holdings in shares of Teck Resources by 1,555.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 5,738,457 shares of the basic materials company’s stock worth $231,719,000 after buying an additional 5,391,907 shares in the last quarter. Canoe Financial LP acquired a new stake in shares of Teck Resources during the 2nd quarter worth approximately $97,536,000. Picton Mahoney Asset Management bought a new stake in shares of Teck Resources in the 2nd quarter valued at $83,322,000. Finally, Mackenzie Financial Corp increased its stake in shares of Teck Resources by 32.7% in the 2nd quarter. Mackenzie Financial Corp now owns 7,989,715 shares of the basic materials company’s stock valued at $323,311,000 after acquiring an additional 1,969,286 shares in the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Stock Down 1.1%

Shares of NYSE TECK opened at $44.73 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.78 and a quick ratio of 2.08. The company has a 50-day moving average price of $42.79 and a 200-day moving average price of $39.31. The stock has a market capitalization of $21.50 billion, a P/E ratio of 25.13, a P/E/G ratio of 0.65 and a beta of 0.83. Teck Resources Ltd has a 1 year low of $28.32 and a 1 year high of $46.46.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Wednesday, October 22nd. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.16. The business had revenue of $2.43 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.60 EPS. On average, equities research analysts forecast that Teck Resources Ltd will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Monday, December 15th. This is an increase from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s payout ratio is currently 20.22%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TECK. UBS Group raised shares of Teck Resources from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 3rd. Scotiabank reiterated a “sector perform” rating on shares of Teck Resources in a report on Tuesday, November 25th. Citigroup restated a “neutral” rating on shares of Teck Resources in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $46.00 target price on shares of Teck Resources in a research report on Wednesday, November 26th. Finally, Canaccord Genuity Group lowered Teck Resources from a “buy” rating to a “hold” rating in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $55.71.

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.