Teck Resources Ltd $TECK Stake Raised by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC raised its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 321.3% in the third quarter, Holdings Channel.com reports. The fund owned 203,714 shares of the basic materials company’s stock after acquiring an additional 155,365 shares during the period. Lighthouse Investment Partners LLC’s holdings in Teck Resources were worth $8,941,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Versant Capital Management Inc bought a new stake in Teck Resources during the third quarter worth approximately $26,000. Smartleaf Asset Management LLC grew its holdings in shares of Teck Resources by 72.4% during the third quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock valued at $37,000 after buying an additional 351 shares in the last quarter. SouthState Bank Corp acquired a new position in shares of Teck Resources in the 3rd quarter valued at about $50,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Teck Resources by 43.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,741 shares of the basic materials company’s stock valued at $76,000 after buying an additional 524 shares during the period. Finally, Tobam increased its stake in shares of Teck Resources by 30.9% in the third quarter. Tobam now owns 2,011 shares of the basic materials company’s stock worth $88,000 after acquiring an additional 475 shares during the last quarter. Institutional investors own 78.06% of the company’s stock.

Teck Resources Price Performance

Shares of TECK stock opened at $49.51 on Monday. Teck Resources Ltd has a 52 week low of $28.32 and a 52 week high of $62.41. The stock’s fifty day moving average is $54.81 and its 200-day moving average is $46.61. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.54. The stock has a market capitalization of $23.83 billion, a PE ratio of 24.51, a PEG ratio of 3.02 and a beta of 0.77.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Thursday, February 19th. The basic materials company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.39. Teck Resources had a net margin of 12.98% and a return on equity of 5.90%. The firm had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter last year, the company posted $0.45 EPS. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities research analysts expect that Teck Resources Ltd will post 1.53 EPS for the current fiscal year.

Teck Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, March 13th. Teck Resources’s payout ratio is 18.32%.

Wall Street Analysts Forecast Growth

TECK has been the topic of several recent research reports. Scotiabank reaffirmed a “sector perform” rating on shares of Teck Resources in a research report on Tuesday, February 24th. National Bank Financial lowered Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 5th. UBS Group reiterated a “buy” rating on shares of Teck Resources in a research note on Tuesday, January 27th. JPMorgan Chase & Co. raised their price objective on Teck Resources from $43.00 to $51.00 and gave the stock a “neutral” rating in a research report on Friday, December 5th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $46.00 price objective on shares of Teck Resources in a report on Wednesday, November 26th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $57.00.

About Teck Resources

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.