JPMorgan Chase & Co. Takes $30.20 Million Position in Teck Resources Ltd (TECK)
JPMorgan Chase & Co. bought a new stake in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,742,884 shares of the basic materials company’s stock, valued at approximately $30,203,000. JPMorgan Chase & Co. owned approximately 0.30% of Teck Resources as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Capital Analysts LLC purchased a new position in shares of Teck Resources during the 2nd quarter valued at $100,000. Winslow Evans & Crocker Inc. purchased a new position in shares of Teck Resources during the 2nd quarter valued at $108,000. Financial Architects Inc purchased a new position in shares of Teck Resources during the 2nd quarter valued at $123,000. Nexus Investment Management Inc. purchased a new position in shares of Teck Resources during the 2nd quarter valued at $182,000. Finally, Candriam Luxembourg S.C.A. purchased a new position in shares of Teck Resources during the 2nd quarter valued at $188,000. Institutional investors own 46.67% of the company’s stock.
Shares of Teck Resources Ltd (NYSE TECK) opened at 21.06 on Monday. The company has a market capitalization of $12.17 billion, a P/E ratio of 7.46 and a beta of 1.25. The stock has a 50 day moving average of $23.19 and a 200-day moving average of $20.45. Teck Resources Ltd has a 12-month low of $14.56 and a 12-month high of $33.76.
Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.02. The firm had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.75 billion. Teck Resources had a net margin of 17.93% and a return on equity of 13.01%. Teck Resources’s quarterly revenue was up 62.0% on a year-over-year basis. Equities research analysts forecast that Teck Resources Ltd will post $3.55 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.0399 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Thursday, September 14th. Teck Resources’s dividend payout ratio is currently 3.01%.
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Several analysts have commented on the stock. J P Morgan Chase & Co upgraded shares of Teck Resources from a “neutral” rating to an “overweight” rating in a research note on Tuesday, May 30th. Bank of America Corporation upgraded shares of Teck Resources from a “neutral” rating to a “buy” rating in a research note on Friday, June 30th. Zacks Investment Research cut shares of Teck Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. MKM Partners reiterated a “buy” rating and issued a $40.00 price target on shares of Teck Resources in a research note on Tuesday, September 12th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $38.00 price target (down previously from $39.00) on shares of Teck Resources in a research note on Friday, June 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating and twenty-four have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $31.19.
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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