Vontobel Holding Ltd. Buys 13,408 Shares of Teck Resources Ltd $TECK

Vontobel Holding Ltd. boosted its position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 12.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 117,703 shares of the basic materials company’s stock after acquiring an additional 13,408 shares during the period. Vontobel Holding Ltd.’s holdings in Teck Resources were worth $5,162,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of TECK. Net Worth Advisory Group acquired a new stake in shares of Teck Resources in the 3rd quarter worth about $410,000. Drummond Knight Asset Management Pty Ltd increased its holdings in Teck Resources by 172.8% during the 3rd quarter. Drummond Knight Asset Management Pty Ltd now owns 880,000 shares of the basic materials company’s stock worth $38,623,000 after purchasing an additional 557,470 shares in the last quarter. Foundation Resource Management Inc. raised its stake in shares of Teck Resources by 0.3% in the third quarter. Foundation Resource Management Inc. now owns 951,919 shares of the basic materials company’s stock worth $41,780,000 after purchasing an additional 2,396 shares during the last quarter. Douglas Lane & Associates LLC raised its stake in shares of Teck Resources by 10.8% in the third quarter. Douglas Lane & Associates LLC now owns 1,150,076 shares of the basic materials company’s stock worth $50,477,000 after purchasing an additional 112,100 shares during the last quarter. Finally, Louisbourg Investments Inc. grew its position in Teck Resources by 42.5% in the 3rd quarter. Louisbourg Investments Inc. now owns 139,912 shares of the basic materials company’s stock worth $6,136,000 after purchasing an additional 41,739 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

Teck Resources Price Performance

TECK stock opened at $46.19 on Friday. Teck Resources Ltd has a 52-week low of $28.32 and a 52-week high of $47.06. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.08 and a current ratio of 2.78. The firm has a 50 day moving average price of $42.96 and a 200-day moving average price of $39.53. The firm has a market capitalization of $22.20 billion, a price-to-earnings ratio of 25.95, a PEG ratio of 0.67 and a beta of 0.83.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings results on Wednesday, October 22nd. The basic materials company reported $0.55 earnings per share for the quarter, beating 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 firm’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.60 earnings per share. Equities research analysts forecast that Teck Resources Ltd will post 1.53 EPS for the current fiscal 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 paid a dividend of $0.125 per share. The ex-dividend date is Monday, December 15th. This represents a $0.50 annualized dividend and a dividend yield of 1.1%. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s dividend payout ratio is 20.22%.

Analysts Set New Price Targets

Several research firms recently commented on TECK. Veritas downgraded Teck Resources from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Weiss Ratings upgraded Teck Resources from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, October 24th. Citigroup restated a “neutral” rating on shares of Teck Resources in a research report on Wednesday, October 8th. Scotiabank reissued a “sector perform” rating on shares of Teck Resources in a research note on Tuesday, November 25th. Finally, Natl Bk Canada cut shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 5th. One investment 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $55.71.

Teck Resources Company Profile

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.