Teck Resources Ltd $TECK Position Increased by Heathbridge Capital Management Ltd.

Heathbridge Capital Management Ltd. raised its position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 64.1% during the third quarter, HoldingsChannel.com reports. The firm owned 234,050 shares of the basic materials company’s stock after buying an additional 91,450 shares during the quarter. Teck Resources makes up approximately 3.9% of Heathbridge Capital Management Ltd.’s holdings, making the stock its 13th largest holding. Heathbridge Capital Management Ltd.’s holdings in Teck Resources were worth $10,261,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Teck Resources during the 2nd quarter valued at about $437,657,000. 1832 Asset Management L.P. raised its position in Teck Resources by 1,555.9% during the second quarter. 1832 Asset Management L.P. now owns 5,738,457 shares of the basic materials company’s stock valued at $231,719,000 after acquiring an additional 5,391,907 shares in the last quarter. Canoe Financial LP acquired a new stake in Teck Resources in the second quarter valued at approximately $97,536,000. Picton Mahoney Asset Management acquired a new stake in Teck Resources in the second quarter valued at approximately $83,322,000. Finally, Mackenzie Financial Corp grew its position in Teck Resources by 32.7% in the second quarter. Mackenzie Financial Corp now owns 7,989,715 shares of the basic materials company’s stock worth $323,311,000 after acquiring an additional 1,969,286 shares in the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TECK has been the topic of a number of recent research reports. Raymond James Financial restated an “outperform” rating on shares of Teck Resources in a report on Friday, October 10th. Weiss Ratings raised shares of Teck Resources from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, October 24th. Scotiabank reaffirmed a “sector perform” rating on shares of Teck Resources in a research report on Tuesday, November 25th. Veritas downgraded Teck Resources from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Finally, Benchmark reissued a “buy” rating on shares of Teck Resources in a research note on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Teck Resources presently has an average rating of “Hold” and an average price target of $55.71.

Teck Resources Stock Performance

Shares of TECK opened at $46.19 on Thursday. The company has a market capitalization of $22.20 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 0.67 and a beta of 0.83. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.78 and a quick ratio of 2.08. Teck Resources Ltd has a one year low of $28.32 and a one year high of $47.06. The company’s fifty day moving average price is $42.92 and its 200 day moving average price is $39.49.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Wednesday, October 22nd. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.16. The company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.93 billion. Teck Resources had a return on equity of 4.14% and a net margin of 11.93%.The firm’s revenue was up 18.4% compared to the same quarter last year. During the same period last year, the business posted $0.60 earnings per share. As a group, analysts expect that Teck Resources Ltd will post 1.53 earnings per share 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 1.1%. 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 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.