Shelton Capital Management Purchases Shares of 11,636 Teck Resources Ltd (TECK)
Shelton Capital Management purchased a new position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 11,636 shares of the basic materials company’s stock, valued at approximately $202,000.
Several other large investors have also recently made changes to their positions in the company. American Century Companies Inc. purchased a new stake in Teck Resources in the 2nd quarter valued at approximately $6,823,000. NN Investment Partners Holdings N.V. purchased a new stake in Teck Resources in the 2nd quarter valued at approximately $623,000. Prudential PLC purchased a new stake in Teck Resources in the 2nd quarter valued at approximately $4,909,000. Andra AP fonden purchased a new stake in Teck Resources in the 2nd quarter valued at approximately $3,610,000. Finally, Great West Life Assurance Co. Can purchased a new stake in Teck Resources in the 2nd quarter valued at approximately $57,911,000. 46.78% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on the company. ValuEngine lowered Teck Resources from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Raymond James Financial, Inc. reaffirmed an “outperform” rating on shares of Teck Resources in a research note on Tuesday, August 15th. Bank of America Corporation upped their target price on Teck Resources from $27.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, October 4th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $26.00 target price (up previously from $24.00) on shares of Teck Resources in a research note on Monday, September 25th. Finally, MKM Partners reaffirmed a “buy” rating and issued a $30.00 target price on shares of Teck Resources in a research note on Wednesday, September 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. Teck Resources currently has a consensus rating of “Buy” and an average target price of $31.18.
Shares of Teck Resources Ltd (NYSE:TECK) opened at 22.74 on Friday. The stock’s 50 day moving average price is $22.44 and its 200-day moving average price is $20.66. The firm has a market capitalization of $13.14 billion, a P/E ratio of 7.82 and a beta of 1.20. Teck Resources Ltd has a 12-month low of $14.56 and a 12-month high of $26.60.
Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Thursday, July 27th. The basic materials company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. Teck Resources had a net margin of 17.93% and a return on equity of 13.01%. The company had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.75 billion. The company’s revenue was up 62.0% on a year-over-year basis. On average, equities analysts expect that Teck Resources Ltd will post $3.57 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were given a $0.0399 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.16 dividend on an annualized basis and a yield of 0.70%. Teck Resources’s payout ratio is 3.01%.
Teck Resources Profile
Teck Resources Ltd is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company’s activities are organized into business units that are focused on steelmaking coal, copper, zinc and energy. It operates in five segments: steelmaking coal, copper, zinc, energy and corporate.
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