TD Private Client Wealth LLC Boosts Stock Position in Teck Resources Ltd $TECK

TD Private Client Wealth LLC lifted its stake in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 64.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 28,216 shares of the basic materials company’s stock after purchasing an additional 11,011 shares during the quarter. TD Private Client Wealth LLC’s holdings in Teck Resources were worth $1,238,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TECK. RWC Asset Management LLP grew its holdings in Teck Resources by 14.6% in the 3rd quarter. RWC Asset Management LLP now owns 341,878 shares of the basic materials company’s stock valued at $15,005,000 after buying an additional 43,571 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new position in shares of Teck Resources during the 3rd quarter valued at about $303,000. JARISLOWSKY FRASER Ltd grew its holdings in shares of Teck Resources by 70.8% in the third quarter. JARISLOWSKY FRASER Ltd now owns 12,059 shares of the basic materials company’s stock valued at $529,000 after purchasing an additional 4,997 shares during the period. Synergy Asset Management LLC acquired a new stake in Teck Resources during the third quarter worth about $272,000. Finally, Tectonic Advisors LLC acquired a new stake in Teck Resources during the third quarter worth about $1,422,000. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Analyst Ratings Changes

TECK has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Teck Resources from $43.00 to $51.00 and gave the company a “neutral” rating in a report on Friday, December 5th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $46.00 price objective on shares of Teck Resources in a report on Wednesday, November 26th. Natl Bk Canada cut Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 5th. Benchmark reaffirmed a “buy” rating on shares of Teck Resources in a research note on Thursday, October 23rd. Finally, Scotiabank reiterated a “sector perform” rating on shares of Teck Resources in a report on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Teck Resources currently has a consensus rating of “Hold” and an average price target of $55.71.

Teck Resources Stock Up 0.1%

Teck Resources stock opened at $52.21 on Friday. The company has a market capitalization of $25.09 billion, a PE ratio of 29.33, a price-to-earnings-growth ratio of 0.57 and a beta of 0.79. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.08 and a current ratio of 2.78. Teck Resources Ltd has a fifty-two week low of $28.32 and a fifty-two week high of $52.42. The firm has a 50 day moving average price of $45.00 and a 200 day moving average price of $40.64.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Wednesday, October 22nd. The basic materials company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.39 by $0.16. Teck Resources had a return on equity of 4.14% and a net margin of 11.93%.The business had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same period last year, the business posted $0.60 earnings per share. The company’s quarterly revenue was up 18.4% on a year-over-year basis. Research 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 was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were given a dividend of $0.125 per share. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. This represents a $0.50 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, December 15th. Teck Resources’s dividend payout ratio is currently 20.22%.

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.