Capital Fund Management S.A. Buys New Stake in Teck Resources Ltd (TECK)
Capital Fund Management S.A. bought a new position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 41,947 shares of the basic materials company’s stock, valued at approximately $727,000.
Several other hedge funds and other institutional investors also recently modified their holdings of TECK. TD Asset Management Inc. purchased a new stake in shares of Teck Resources in the second quarter worth about $146,189,000. Contrarius Investment Management Ltd purchased a new stake in shares of Teck Resources in the second quarter worth about $144,456,000. CIBC Asset Management Inc purchased a new stake in shares of Teck Resources in the second quarter worth about $144,018,000. Great West Life Assurance Co. Can purchased a new stake in shares of Teck Resources in the second quarter worth about $57,911,000. Finally, Commonwealth Bank of Australia purchased a new stake in shares of Teck Resources in the second quarter worth about $49,600,000. 46.68% of the stock is owned by institutional investors.
Several brokerages have recently weighed in on TECK. MKM Partners reaffirmed a “buy” rating and issued a $28.00 target price (up previously from $25.00) on shares of Teck Resources in a research report on Thursday, August 24th. ValuEngine downgraded Teck Resources from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 6th. Raymond James Financial, Inc. reaffirmed an “outperform” rating on shares of Teck Resources in a research report on Tuesday, August 15th. Zacks Investment Research downgraded Teck Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Finally, BidaskClub downgraded Teck Resources from a “strong-buy” rating to a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twenty-four have assigned a buy rating to the company. Teck Resources has an average rating of “Buy” and an average target price of $31.19.
Shares of Teck Resources Ltd (NYSE:TECK) opened at 21.06 on Friday. The firm’s 50-day moving average price is $23.19 and its 200 day moving average price is $20.45. Teck Resources Ltd has a 52 week low of $14.56 and a 52 week high of $26.60. The firm has a market cap of $12.17 billion, a PE ratio of 7.46 and a beta of 1.25.
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 for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. Teck Resources had a return on equity of 13.01% and a net margin of 17.93%. The business had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.75 billion. Teck Resources’s revenue for the quarter was up 62.0% on a year-over-year basis. Equities analysts anticipate that Teck Resources Ltd will post $3.55 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.0399 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date is Thursday, September 14th. Teck Resources’s dividend payout ratio (DPR) is presently 3.01%.
Teck Resources Company 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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