Holocene Advisors LP Acquires 1,805,675 Shares of Teck Resources Ltd $TECK

Holocene Advisors LP raised its stake in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 254.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,515,499 shares of the basic materials company’s stock after acquiring an additional 1,805,675 shares during the quarter. Holocene Advisors LP owned approximately 0.52% of Teck Resources worth $101,576,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC boosted its position in Teck Resources by 69.2% during the first quarter. Smartleaf Asset Management LLC now owns 856 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 350 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Teck Resources in the 2nd quarter valued at about $49,000. MassMutual Private Wealth & Trust FSB grew its position in shares of Teck Resources by 102.5% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,320 shares of the basic materials company’s stock worth $53,000 after buying an additional 668 shares during the last quarter. Tobam bought a new position in shares of Teck Resources during the 2nd quarter worth approximately $62,000. Finally, Allworth Financial LP lifted its position in Teck Resources by 38.7% during the second quarter. Allworth Financial LP now owns 3,263 shares of the basic materials company’s stock valued at $132,000 after acquiring an additional 910 shares during the last quarter. 78.06% of the stock is owned by institutional investors.

Teck Resources Stock Down 4.2%

Teck Resources stock opened at $43.16 on Friday. The business’s 50-day simple moving average is $42.66 and its two-hundred day simple moving average is $39.07. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.08 and a current ratio of 2.78. The company has a market cap of $20.75 billion, a PE ratio of 24.25, a PEG ratio of 0.65 and a beta of 0.83. Teck Resources Ltd has a fifty-two week low of $28.32 and a fifty-two week high of $46.46.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Wednesday, October 22nd. The basic materials company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.16. The firm 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%.The company’s revenue was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 earnings per share. Equities analysts anticipate that Teck Resources Ltd will post 1.53 EPS for the current year.

Teck Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be issued a $0.125 dividend. This is an increase from Teck Resources’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.50 annualized dividend and a dividend yield of 1.2%. Teck Resources’s payout ratio is currently 19.66%.

Analysts Set New Price Targets

TECK has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $46.00 price target on shares of Teck Resources in a report on Wednesday, November 26th. JPMorgan Chase & Co. upped their target price on Teck Resources from $43.00 to $51.00 and gave the company a “neutral” rating in a research report on Friday, December 5th. Weiss Ratings raised Teck Resources from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, October 24th. Scotiabank restated a “sector perform” rating on shares of Teck Resources in a research note on Tuesday, November 25th. Finally, Benchmark restated a “buy” rating on shares of Teck Resources in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $55.71.

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.