Northwest & Ethical Investments L.P. Increases Holdings in Teck Resources Ltd $TECK

Northwest & Ethical Investments L.P. raised its stake in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 16.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 157,645 shares of the basic materials company’s stock after purchasing an additional 21,900 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Teck Resources were worth $6,402,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Swiss National Bank raised its holdings in shares of Teck Resources by 6.0% during the 2nd quarter. Swiss National Bank now owns 1,428,679 shares of the basic materials company’s stock valued at $57,555,000 after buying an additional 80,300 shares during the period. Atria Investments Inc boosted its holdings in Teck Resources by 27.1% in the 2nd 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. Barings LLC grew its position in Teck Resources by 34.8% in the second quarter. Barings LLC now owns 143,379 shares of the basic materials company’s stock valued at $5,790,000 after acquiring an additional 37,023 shares in the last quarter. Picton Mahoney Asset Management acquired a new stake in Teck Resources in the second quarter valued at approximately $83,322,000. Finally, Boston Partners raised its stake in shares of Teck Resources by 1.2% during the second quarter. Boston Partners now owns 9,365,206 shares of the basic materials company’s stock valued at $378,167,000 after purchasing an additional 113,431 shares during the period. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Trading Up 0.9%

TECK opened at $42.62 on Thursday. Teck Resources Ltd has a 12-month low of $28.32 and a 12-month high of $48.47. 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 stock has a market capitalization of $20.48 billion, a PE ratio of 23.94, a P/E/G ratio of 0.74 and a beta of 0.90. The firm’s fifty day moving average price is $42.04 and its 200 day moving average price is $38.47.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Wednesday, October 22nd. The basic materials company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.16. The company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.93 billion. Teck Resources had a net margin of 11.93% and a return on equity of 4.14%. The company’s revenue was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 EPS. As a group, research analysts expect that Teck Resources Ltd will post 1.53 EPS 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 issued 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 yield of 1.2%. The ex-dividend date of this dividend is Monday, December 15th. Teck Resources’s dividend payout ratio is presently 19.66%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TECK. JPMorgan Chase & Co. upped their target price on shares of Teck Resources from $41.00 to $43.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. Benchmark reiterated a “buy” rating on shares of Teck Resources in a report on Thursday, October 23rd. UBS Group raised shares of Teck Resources from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 3rd. Scotiabank restated a “sector perform” rating on shares of Teck Resources in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $46.00 target price on shares of Teck Resources in a research report on Wednesday. One equities 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 company’s stock. According to data from MarketBeat.com, Teck Resources has a consensus rating of “Hold” and an average price target of $54.57.

About Teck Resources

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.