86,698 Shares in Teck Resources Ltd (TECK) Acquired by Meag Munich Ergo Kapitalanlagegesellschaft MBH
Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new stake in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) during the second quarter, according to its most recent filing with the SEC. The fund acquired 86,698 shares of the basic materials company’s stock, valued at approximately $1,496,000.
A number of other hedge funds have also modified their holdings of TECK. AMF Pensionsforsakring AB bought a new position in shares of Teck Resources during the second quarter worth approximately $12,696,000. Financial Architects Inc acquired a new position in shares of Teck Resources during the second quarter worth about $123,000. APG Asset Management N.V. acquired a new position in shares of Teck Resources during the second quarter worth about $5,487,000. US Bancorp DE acquired a new position in shares of Teck Resources during the second quarter worth about $320,000. Finally, Exane Asset Management acquired a new position in shares of Teck Resources during the second quarter worth about $877,000. Institutional investors own 46.72% of the company’s stock.
Shares of Teck Resources Ltd (TECK) opened at 22.34 on Monday. The company’s 50 day moving average price is $18.24 and its 200 day moving average price is $20.45. The stock has a market capitalization of $12.91 billion, a P/E ratio of 7.96 and a beta of 1.27. Teck Resources Ltd has a one year low of $14.56 and a one year high of $33.76.
Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.71 by $0.02. Teck Resources had a net margin of 17.93% and a return on equity of 13.01%. The business had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.75 billion. Teck Resources’s quarterly revenue was up 62.0% on a year-over-year basis. On average, equities analysts expect that Teck Resources Ltd will post $3.16 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.0399 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.71%. Teck Resources’s payout ratio is presently 5.64%.
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Several research firms have recently weighed in on TECK. Royal Bank Of Canada restated an “outperform” rating and set a $38.00 price target (down previously from $39.00) on shares of Teck Resources in a research note on Friday, June 16th. Deutsche Bank AG reiterated a “buy” rating and issued a $23.00 price objective (down previously from $24.00) on shares of Teck Resources in a research report on Sunday, June 25th. Zacks Investment Research cut Teck Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Bank of America Corporation lowered Teck Resources from a “buy” rating to a “neutral” rating and lowered their target price for the company from $27.00 to $19.00 in a report on Friday, June 9th. Finally, Clarkson Capital reissued a “buy” rating on shares of Teck Resources in a report on Friday, May 19th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-one have issued a buy rating to the stock. Teck Resources presently has a consensus rating of “Buy” and an average target price of $27.03.
About Teck Resources
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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