Riverhead Capital Management LLC Acquires 988 Shares of Teck Resources Ltd (NYSE:TECK)
Riverhead Capital Management LLC grew its holdings in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 19.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,988 shares of the basic materials company’s stock after buying an additional 988 shares during the period. Riverhead Capital Management LLC’s holdings in Teck Resources were worth $133,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of TECK. Janney Montgomery Scott LLC boosted its holdings in shares of Teck Resources by 138.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 33,900 shares of the basic materials company’s stock worth $786,000 after buying an additional 19,709 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Teck Resources by 19.0% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 24,204 shares of the basic materials company’s stock worth $561,000 after purchasing an additional 3,873 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new position in shares of Teck Resources in the 1st quarter worth $26,922,000. US Bancorp DE lifted its holdings in shares of Teck Resources by 24.8% in the 1st quarter. US Bancorp DE now owns 20,579 shares of the basic materials company’s stock worth $477,000 after purchasing an additional 4,091 shares in the last quarter. Finally, PCJ Investment Counsel Ltd. lifted its holdings in shares of Teck Resources by 25.4% in the 1st quarter. PCJ Investment Counsel Ltd. now owns 956,032 shares of the basic materials company’s stock worth $22,127,000 after purchasing an additional 193,530 shares in the last quarter. Hedge funds and other institutional investors own 53.68% of the company’s stock.
A number of equities analysts recently issued reports on the company. B. Riley reiterated a “buy” rating on shares of Teck Resources in a report on Thursday, August 22nd. Zacks Investment Research cut Teck Resources from a “buy” rating to a “hold” rating in a report on Saturday, July 13th. ValuEngine upgraded Teck Resources from a “strong sell” rating to a “sell” rating in a report on Thursday, September 5th. TD Securities cut Teck Resources to a “buy” rating in a report on Monday, July 22nd. Finally, Macquarie assumed coverage on Teck Resources in a report on Wednesday, July 10th. They issued a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $29.33.
Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Thursday, July 25th. The basic materials company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.04). The company had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Teck Resources had a net margin of 20.37% and a return on equity of 8.49%. During the same period in the previous year, the company posted $1.12 earnings per share. On average, research analysts expect that Teck Resources Ltd will post 2.76 EPS for the current year.
The business also recently declared a — dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a $0.0376 dividend. This represents a yield of 0.9%. The ex-dividend date is Thursday, September 12th. Teck Resources’s payout ratio is currently 4.78%.
Teck Resources Company Profile
Teck Resources Limited researches, explores for, develops, and produces natural resources in the Asia Pacific, the Americas, and Europe. It operates through five segments: Steelmaking, Coal, Copper, Zinc, Energy, and Corporate. The company's principal products include steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.
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