Guardian Capital LP Acquires 291,749 Shares of Teck Resources Ltd $TECK

Guardian Capital LP increased its stake in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 46.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 925,851 shares of the basic materials company’s stock after acquiring an additional 291,749 shares during the quarter. Teck Resources accounts for approximately 1.3% of Guardian Capital LP’s portfolio, making the stock its 20th largest position. Guardian Capital LP owned approximately 0.19% of Teck Resources worth $40,623,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of TECK. Principal Financial Group Inc. increased its stake in Teck Resources by 36.1% in the third quarter. Principal Financial Group Inc. now owns 16,879,229 shares of the basic materials company’s stock valued at $740,604,000 after purchasing an additional 4,474,637 shares in the last quarter. Norges Bank bought a new position in shares of Teck Resources during the 2nd quarter worth about $437,657,000. Northwest & Ethical Investments L.P. grew its stake in shares of Teck Resources by 16.1% in the 2nd quarter. Northwest & Ethical Investments L.P. now owns 157,645 shares of the basic materials company’s stock valued at $6,402,000 after buying an additional 21,900 shares during the period. Alps Advisors Inc. grew its stake in shares of Teck Resources by 37.3% in the 3rd quarter. Alps Advisors Inc. now owns 166,334 shares of the basic materials company’s stock valued at $7,300,000 after buying an additional 45,194 shares during the period. Finally, Swiss National Bank increased its position in Teck Resources by 6.0% in the 2nd quarter. Swiss National Bank now owns 1,428,679 shares of the basic materials company’s stock valued at $57,555,000 after buying an additional 80,300 shares in the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $46.00 price target on shares of Teck Resources in a research note on Wednesday, November 26th. TD Securities restated a “hold” rating on shares of Teck Resources in a report on Monday, February 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Teck Resources in a research report on Wednesday, January 21st. National Bank Financial cut Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, December 5th. Finally, Citigroup raised shares of Teck Resources from a “neutral” rating to a “buy” rating in a research report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $58.00.

Teck Resources Price Performance

Shares of NYSE TECK opened at $50.51 on Friday. Teck Resources Ltd has a fifty-two week low of $28.32 and a fifty-two week high of $62.41. The stock has a market cap of $24.32 billion, a price-to-earnings ratio of 25.01, a PEG ratio of 3.26 and a beta of 0.77. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.54. The firm’s 50-day simple moving average is $54.44 and its 200 day simple moving average is $45.75.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Thursday, February 19th. The basic materials company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.39. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.28 billion. Teck Resources had a return on equity of 5.90% and a net margin of 12.98%.The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.45 EPS. As a group, research analysts anticipate that Teck Resources Ltd will post 1.53 earnings per share for the current fiscal year.

Teck Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.50 annualized dividend and a dividend yield of 1.0%. Teck Resources’s payout ratio is presently 17.82%.

About Teck Resources

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.