Nykredit A S Invests $4.34 Million in Teck Resources Ltd $TECK

Nykredit A S bought a new stake in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 72,862 shares of the basic materials company’s stock, valued at approximately $4,338,000.

A number of other hedge funds also recently modified their holdings of TECK. Public Employees Retirement System of Ohio bought a new position in Teck Resources during the 2nd quarter worth $21,425,000. PensionDanmark Pensionsforsikringsaktieselskab lifted its stake in Teck Resources by 2.8% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 191,700 shares of the basic materials company’s stock valued at $11,413,000 after buying an additional 5,220 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Teck Resources by 23.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 17,299 shares of the basic materials company’s stock valued at $1,030,000 after acquiring an additional 3,302 shares during the period. Versant Capital Management Inc boosted its position in shares of Teck Resources by 86.5% during the 2nd quarter. Versant Capital Management Inc now owns 1,587 shares of the basic materials company’s stock worth $94,000 after purchasing an additional 736 shares in the last quarter. Finally, Brandywine Financial Group acquired a new position in Teck Resources during the 1st quarter worth approximately $5,251,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Analysts Set New Price Targets

TECK has been the topic of several research reports. JPMorgan Chase & Co. upped their price objective on shares of Teck Resources from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, July 28th. Wall Street Zen lowered Teck Resources from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 26th. Raymond James Financial upgraded shares of Teck Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft upped their price target on Teck Resources from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Finally, Weiss Ratings upgraded shares of Teck Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 4th. Six equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $62.25.

Teck Resources Stock Performance

Shares of TECK opened at $69.05 on Monday. Teck Resources Ltd has a 12-month low of $33.24 and a 12-month high of $71.93. The company has a current ratio of 3.12, a quick ratio of 2.33 and a debt-to-equity ratio of 0.12. The company has a market cap of $33.35 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 2.49 and a beta of 0.94. The stock has a 50-day moving average price of $62.80 and a 200-day moving average price of $59.99.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Thursday, July 23rd. The basic materials company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.40. Teck Resources had a return on equity of 10.42% and a net margin of 17.85%.The business had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.38 billion. During the same quarter in the prior year, the firm earned $0.38 earnings per share. The firm’s revenue was up 78.2% on a year-over-year basis. As a group, equities analysts forecast that Teck Resources Ltd will post 3.48 earnings per share for the current fiscal year.

Teck Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Teck Resources’s dividend payout ratio is 9.76%.

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.