Carrhae Capital LLP Sells 168,379 Shares of Teck Resources Ltd $TECK

Carrhae Capital LLP reduced its position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 13.2% in the 2nd quarter, Holdings Channel reports. The firm owned 1,107,431 shares of the basic materials company’s stock after selling 168,379 shares during the period. Teck Resources accounts for approximately 3.3% of Carrhae Capital LLP’s holdings, making the stock its 16th largest position. Carrhae Capital LLP’s holdings in Teck Resources were worth $44,718,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Atria Investments Inc increased its stake in shares of Teck Resources by 27.1% in the 2nd quarter. Atria Investments Inc now owns 33,303 shares of the basic materials company’s stock valued at $1,345,000 after purchasing an additional 7,095 shares during the last quarter. Assetmark Inc. boosted its stake in Teck Resources by 2.1% in the second quarter. Assetmark Inc. now owns 20,360 shares of the basic materials company’s stock valued at $822,000 after buying an additional 415 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Teck Resources by 3.3% in the second quarter. Envestnet Asset Management Inc. now owns 548,732 shares of the basic materials company’s stock valued at $22,158,000 after acquiring an additional 17,744 shares during the last quarter. Ingalls & Snyder LLC raised its stake in Teck Resources by 2.4% during the second quarter. Ingalls & Snyder LLC now owns 425,095 shares of the basic materials company’s stock worth $17,165,000 after acquiring an additional 10,000 shares in the last quarter. Finally, PKO Investment Management Joint Stock Co raised its stake in Teck Resources by 28.9% during the second quarter. PKO Investment Management Joint Stock Co now owns 22,324 shares of the basic materials company’s stock worth $899,000 after acquiring an additional 5,000 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Price Performance

TECK stock opened at $42.87 on Monday. The company has a market capitalization of $20.60 billion, a P/E ratio of 24.08, a PEG ratio of 0.74 and a beta of 0.92. The company has a fifty day moving average price of $40.30 and a 200-day moving average price of $37.64. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.08 and a current ratio of 2.78. Teck Resources Ltd has a 52-week low of $28.32 and a 52-week high of $51.34.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Wednesday, October 22nd. The basic materials company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.16. The business had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.93 billion. Teck Resources had a return on equity of 4.14% and a net margin of 11.93%.Teck Resources’s quarterly revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 earnings per share. As a group, equities analysts expect that Teck Resources Ltd will post 1.53 EPS for the current year.

Teck Resources Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on TECK shares. JPMorgan Chase & Co. raised their price target on shares of Teck Resources from $41.00 to $43.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. Scotiabank reissued an “outperform” rating on shares of Teck Resources in a research note on Wednesday, September 10th. Stifel Canada upgraded shares of Teck Resources to a “hold” rating in a research report on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft upgraded shares of Teck Resources from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a report on Monday, September 8th. Finally, Citigroup reiterated a “neutral” rating on shares of Teck Resources in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target 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.