Ingalls & Snyder LLC Increases Position in Teck Resources Ltd $TECK

Ingalls & Snyder LLC lifted its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 2.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 425,095 shares of the basic materials company’s stock after acquiring an additional 10,000 shares during the period. Ingalls & Snyder LLC owned approximately 0.09% of Teck Resources worth $17,165,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC increased its stake in Teck Resources by 5.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 10,354 shares of the basic materials company’s stock valued at $377,000 after buying an additional 545 shares during the period. Golden State Wealth Management LLC raised its position in shares of Teck Resources by 7,560.0% in the first quarter. Golden State Wealth Management LLC now owns 1,149 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 1,134 shares during the period. Cetera Investment Advisers increased its position in Teck Resources by 20.9% during the first quarter. Cetera Investment Advisers now owns 69,885 shares of the basic materials company’s stock worth $2,546,000 after acquiring an additional 12,092 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in shares of Teck Resources by 22.6% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 12,141 shares of the basic materials company’s stock valued at $442,000 after purchasing an additional 2,240 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in Teck Resources by 1,611.2% during the 1st quarter. Wellington Management Group LLP now owns 751,146 shares of the basic materials company’s stock worth $27,358,000 after buying an additional 707,249 shares in the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Teck Resources Trading Up 0.1%

Shares of NYSE:TECK opened at $42.52 on Friday. Teck Resources Ltd has a 1 year low of $28.32 and a 1 year high of $51.34. The stock’s fifty day moving average price is $39.19 and its 200-day moving average price is $37.24. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.47 and a quick ratio of 2.45. The company has a market cap of $20.43 billion, a P/E ratio of 23.89, a PEG ratio of 0.62 and a beta of 0.92.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Wednesday, October 22nd. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.16. Teck Resources had a return on equity of 4.13% and a net margin of 11.93%.The firm had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter last year, the business posted $0.60 earnings per share. The firm’s revenue was up 18.4% on a year-over-year basis. Sell-side analysts expect that Teck Resources Ltd will post 1.53 earnings per share for the current year.

Teck Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.50 annualized dividend and a yield of 1.2%. This is an increase from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s dividend payout ratio is currently 20.22%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Stifel Canada raised Teck Resources to a “hold” rating in a research note on Tuesday, July 8th. Scotiabank reiterated an “outperform” rating on shares of Teck Resources in a report on Wednesday, September 10th. Veritas lowered Teck Resources from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. Weiss Ratings raised Teck Resources from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday. Finally, Cibc World Mkts lowered Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Teck Resources currently has an average rating of “Hold” and a consensus target price of $54.00.

Teck Resources Profile

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.