NN Investment Partners Holdings N.V. Acquires New Stake in Teck Resources Ltd (NYSE:TECK)
NN Investment Partners Holdings N.V. bought a new position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 35,911 shares of the basic materials company’s stock, valued at approximately $623,000.
Separately, Atria Investments LLC purchased a new stake in shares of Teck Resources during the second quarter valued at approximately $231,000. Institutional investors own 47.20% of the company’s stock.
Teck Resources Ltd (NYSE TECK) traded up 0.91% during midday trading on Friday, reaching $23.30. 2,351,388 shares of the company’s stock were exchanged. Teck Resources Ltd has a 52 week low of $14.56 and a 52 week high of $26.60. The firm has a market capitalization of $13.46 billion, a price-to-earnings ratio of 8.27 and a beta of 1.27. The firm’s 50 day moving average is $20.57 and its 200 day moving average is $20.35.
Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.02. Teck Resources had a return on equity of 13.01% and a net margin of 17.93%. The company had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.75 billion. The firm’s revenue was up 62.0% compared to the same quarter last year. On average, equities analysts anticipate that Teck Resources Ltd will post $3.20 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.0399 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Thursday, September 14th. Teck Resources’s payout ratio is presently 5.64%.
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Several analysts recently commented on TECK shares. Clarkson Capital reissued a “buy” rating on shares of Teck Resources in a research report on Friday, May 19th. Bank of America Corporation raised shares of Teck Resources from a “neutral” rating to a “buy” rating in a research report on Friday, June 30th. Deutsche Bank AG reissued a “buy” rating and set a $23.00 price objective (down from $24.00) on shares of Teck Resources in a research report on Sunday, June 25th. Raymond James Financial, Inc. reissued an “outperform” rating on shares of Teck Resources in a research report on Tuesday. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $38.00 price target (down previously from $39.00) on shares of Teck Resources in a report on Friday, June 16th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and twenty-two have given a buy rating to the stock. Teck Resources currently has an average rating of “Buy” and an average price target of $27.03.
Teck Resources Company Profile
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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