UBS Oconnor LLC Buys New Stake in Teck Resources Ltd (TECK)
UBS Oconnor LLC bought a new position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 930,046 shares of the basic materials company’s stock, valued at approximately $16,118,000. UBS Oconnor LLC owned 0.16% of Teck Resources at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. Capital Analysts LLC bought a new position in shares of Teck Resources during the 2nd quarter valued at about $100,000. Winslow Evans & Crocker Inc. bought a new position in shares of Teck Resources during the 2nd quarter valued at about $108,000. Financial Architects Inc bought a new position in shares of Teck Resources during the 2nd quarter valued at about $123,000. PNC Financial Services Group Inc. bought a new position in shares of Teck Resources during the 2nd quarter valued at about $124,000. Finally, Nexus Investment Management Inc. bought a new position in shares of Teck Resources during the 2nd quarter valued at about $182,000. Institutional investors own 46.80% of the company’s stock.
Teck Resources Ltd (NYSE TECK) traded down 1.31% on Friday, hitting $21.09. The company had a trading volume of 3,129,386 shares. Teck Resources Ltd has a one year low of $14.56 and a one year high of $26.60. The stock has a market capitalization of $12.19 billion, a PE ratio of 7.47 and a beta of 1.25. The stock has a 50 day moving average of $23.20 and a 200-day moving average of $20.46.
Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.02. The business had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.75 billion. Teck Resources had a return on equity of 13.01% and a net margin of 17.93%. Teck Resources’s revenue for the quarter was up 62.0% compared to the same quarter last year. Equities analysts anticipate that Teck Resources Ltd will post $3.55 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were issued a dividend of $0.0399 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.16 dividend on an annualized basis and a yield of 0.76%. Teck Resources’s dividend payout ratio (DPR) is currently 3.01%.
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Several research firms have recently weighed in on TECK. BidaskClub cut Teck Resources from a “strong-buy” rating to a “buy” rating in a report on Friday, September 15th. ValuEngine cut Teck Resources from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 6th. Bank of America Corporation cut Teck Resources from a “buy” rating to a “neutral” rating and cut their price objective for the company from $27.00 to $19.00 in a report on Friday, June 9th. Deutsche Bank AG reiterated a “buy” rating and set a $26.00 price objective (up previously from $24.00) on shares of Teck Resources in a report on Monday, September 25th. Finally, MKM Partners reiterated a “buy” rating and set a $30.00 price objective on shares of Teck Resources in a report on Wednesday, September 20th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and twenty-four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $30.37.
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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