Lingohr & Partner Asset Management GmbH Acquires Shares of 58,276 Teck Resources Ltd (TECK)
Lingohr & Partner Asset Management GmbH acquired a new stake in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 58,276 shares of the basic materials company’s stock, valued at approximately $1,274,000.
A number of other hedge funds have also modified their holdings of TECK. Capital Analysts LLC purchased a new position in Teck Resources during the second quarter valued at approximately $100,000. Winslow Evans & Crocker Inc. purchased a new position in Teck Resources during the second quarter valued at approximately $108,000. Financial Architects Inc purchased a new position in Teck Resources during the second quarter valued at approximately $123,000. PNC Financial Services Group Inc. purchased a new position in Teck Resources during the second quarter valued at approximately $124,000. Finally, Nexus Investment Management Inc. purchased a new position in Teck Resources during the second quarter valued at approximately $182,000. 46.68% of the stock is currently owned by institutional investors.
Shares of Teck Resources Ltd (NYSE TECK) traded down 2.36% during midday trading on Friday, hitting $21.06. 7,352,492 shares of the stock were exchanged. The stock has a 50 day moving average price of $23.19 and a 200-day moving average price of $20.45. Teck Resources Ltd has a 12 month low of $14.56 and a 12 month high of $26.60. The company 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 posted its earnings results on Thursday, July 27th. The basic materials company reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.02. The firm had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.75 billion. Teck Resources had a net margin of 17.93% and a return on equity of 13.01%. The firm’s revenue for the quarter was up 62.0% compared to the same quarter last year. On average, analysts predict that Teck Resources Ltd will post $3.55 EPS for the current year.
The business 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 $0.0399 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Thursday, September 14th. Teck Resources’s dividend payout ratio (DPR) is 3.01%.
Several equities analysts recently issued reports on the stock. MKM Partners reissued a “buy” rating and set a $28.00 price objective (up from $25.00) on shares of Teck Resources in a report on Thursday, August 24th. ValuEngine lowered shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 6th. Raymond James Financial, Inc. reissued an “outperform” rating on shares of Teck Resources in a report on Tuesday, August 15th. Zacks Investment Research lowered shares of Teck Resources from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Finally, BidaskClub lowered shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-four have given a buy rating to the company’s stock. Teck Resources currently has an average rating of “Buy” and an average target price of $31.19.
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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