Teck Resources Ltd $TECK Shares Sold by Anchor Capital Advisors LLC

Anchor Capital Advisors LLC reduced its stake in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 10.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 433,907 shares of the basic materials company’s stock after selling 49,320 shares during the period. Anchor Capital Advisors LLC’s holdings in Teck Resources were worth $17,521,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Levin Capital Strategies L.P. boosted its holdings in shares of Teck Resources by 71.4% during the 2nd quarter. Levin Capital Strategies L.P. now owns 494,870 shares of the basic materials company’s stock worth $19,983,000 after purchasing an additional 206,202 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Teck Resources by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 1,753,295 shares of the basic materials company’s stock valued at $70,798,000 after acquiring an additional 38,179 shares during the last quarter. K.J. Harrison & Partners Inc lifted its holdings in Teck Resources by 23.0% in the second quarter. K.J. Harrison & Partners Inc now owns 107,020 shares of the basic materials company’s stock valued at $4,320,000 after acquiring an additional 20,000 shares during the last quarter. Atria Investments Inc lifted its holdings in Teck Resources by 27.1% in the second quarter. Atria Investments Inc now owns 33,303 shares of the basic materials company’s stock valued at $1,345,000 after acquiring an additional 7,095 shares during the last quarter. Finally, Assetmark Inc. lifted its holdings 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 acquiring an additional 415 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Stock Up 1.4%

Shares of NYSE TECK opened at $41.70 on Thursday. The stock has a market cap of $20.04 billion, a P/E ratio of 23.42, a PEG ratio of 0.74 and a beta of 0.92. The company has a current ratio of 2.78, a quick ratio of 2.08 and a debt-to-equity ratio of 0.15. Teck Resources Ltd has a 12-month low of $28.32 and a 12-month high of $51.34. The business’s fifty day simple moving average is $40.82 and its 200-day simple moving average is $37.80.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Wednesday, October 22nd. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.16. The business had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.93 billion. Teck Resources had a return on equity of 4.14% and a net margin of 11.93%.The company’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period last year, the firm earned $0.60 earnings per share. As a group, equities analysts predict that Teck Resources Ltd will post 1.53 EPS for the current fiscal 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 paid a $0.125 dividend. The ex-dividend date is Monday, December 15th. This is an increase from Teck Resources’s previous quarterly dividend of $0.09. This represents a $0.50 annualized dividend and a dividend yield of 1.2%. Teck Resources’s payout ratio is 20.22%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TECK. B. Riley cut Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, July 28th. Benchmark reissued a “buy” rating on shares of Teck Resources in a research report on Thursday, October 23rd. Stifel Nicolaus initiated coverage on Teck Resources in a research report on Wednesday, July 9th. They issued a “hold” rating on the stock. Cibc World Mkts lowered Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 25th. Finally, Raymond James Financial reissued an “outperform” rating on shares of Teck Resources in a research report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $54.00.

Teck Resources Company 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.