Tectonic Advisors LLC Invests $1.42 Million in Teck Resources Ltd $TECK

Tectonic Advisors LLC bought a new stake in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 32,404 shares of the basic materials company’s stock, valued at approximately $1,422,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Teck Resources in the 2nd quarter worth approximately $49,000. MassMutual Private Wealth & Trust FSB raised its stake in Teck Resources by 102.5% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,320 shares of the basic materials company’s stock worth $53,000 after buying an additional 668 shares during the last quarter. Tobam bought a new position in Teck Resources during the second quarter worth $62,000. CWM LLC lifted its holdings in Teck Resources by 22.7% in the third quarter. CWM LLC now owns 2,078 shares of the basic materials company’s stock valued at $91,000 after buying an additional 384 shares during the period. Finally, Allworth Financial LP boosted its position in Teck Resources by 38.7% during the second quarter. Allworth Financial LP now owns 3,263 shares of the basic materials company’s stock valued at $132,000 after acquiring an additional 910 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on TECK. Scotiabank reissued a “sector perform” rating on shares of Teck Resources in a research report on Tuesday, November 25th. Citigroup reaffirmed a “neutral” rating on shares of Teck Resources in a research note on Wednesday, October 8th. Veritas downgraded Teck Resources from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $46.00 price target on shares of Teck Resources in a report on Wednesday, November 26th. Finally, Natl Bk Canada downgraded 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 assigned a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Teck Resources has a consensus rating of “Hold” and an average price target of $55.71.

Teck Resources Stock Up 0.3%

TECK stock opened at $48.04 on Friday. The stock’s 50 day simple moving average is $43.55 and its 200 day simple moving average is $39.91. Teck Resources Ltd has a fifty-two week low of $28.32 and a fifty-two week high of $49.22. 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 company has a market cap of $23.09 billion, a P/E ratio of 26.99, a price-to-earnings-growth ratio of 0.59 and a beta of 0.79.

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

Teck Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Monday, December 15th. This is an increase from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s payout ratio is 19.66%.

Teck Resources 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.