Teck Resources Ltd $TECK Stake Boosted by Metis Global Partners LLC

Metis Global Partners LLC increased its position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 20.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,839 shares of the basic materials company’s stock after acquiring an additional 8,794 shares during the period. Metis Global Partners LLC’s holdings in Teck Resources were worth $2,056,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Cerity Partners LLC increased its position in Teck Resources by 76.8% in the 1st quarter. Cerity Partners LLC now owns 59,300 shares of the basic materials company’s stock worth $2,160,000 after purchasing an additional 25,763 shares during the last quarter. Stephens Inc. AR grew its stake in shares of Teck Resources by 9.8% in the 1st quarter. Stephens Inc. AR now owns 6,860 shares of the basic materials company’s stock valued at $250,000 after buying an additional 610 shares in the last quarter. MQS Management LLC bought a new stake in shares of Teck Resources in the 1st quarter valued at approximately $475,000. Signaturefd LLC increased its holdings in Teck Resources by 6.4% in the first quarter. Signaturefd LLC now owns 17,762 shares of the basic materials company’s stock worth $647,000 after buying an additional 1,068 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in Teck Resources by 20.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,308,019 shares of the basic materials company’s stock valued at $47,651,000 after acquiring an additional 220,603 shares in the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on TECK shares. Royal Bank Of Canada decreased their target price on shares of Teck Resources from $82.00 to $67.00 and set an “outperform” rating for the company in a research report on Friday, July 25th. Morgan Stanley lowered shares of Teck Resources from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $42.00 to $44.00 in a research note on Tuesday, July 15th. CIBC downgraded shares of Teck Resources from a “sector outperform” rating to a “neutral” rating in a research report on Friday, July 25th. B. Riley lowered Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, July 28th. Finally, Desjardins downgraded Teck Resources from a “buy” rating to a “hold” rating in a research note on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Teck Resources presently has an average rating of “Hold” and a consensus target price of $54.00.

Teck Resources Stock Performance

NYSE:TECK opened at $41.05 on Monday. The firm has a market capitalization of $19.72 billion, a PE ratio of 23.06, a PEG 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 $49.71. 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 firm’s fifty day simple moving average is $41.11 and its 200 day simple moving average is $37.93.

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 analysts’ consensus estimates of $0.39 by $0.16. The firm had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.93 billion. Teck Resources had a net margin of 11.93% and a return on equity of 4.14%. The business’s 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, sell-side 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. Shareholders of record on Monday, December 15th will be given a $0.125 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.50 annualized dividend and a yield of 1.2%. This is an increase from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s dividend payout ratio (DPR) is presently 19.66%.

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.