Louisbourg Investments Inc. Boosts Stock Holdings in Teck Resources Ltd $TECK

Louisbourg Investments Inc. lifted its position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 10.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 175,850 shares of the basic materials company’s stock after acquiring an additional 16,388 shares during the period. Teck Resources makes up approximately 1.6% of Louisbourg Investments Inc.’s portfolio, making the stock its 12th largest position. Louisbourg Investments Inc.’s holdings in Teck Resources were worth $9,096,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in TECK. Welch Group LLC lifted its position in Teck Resources by 3.5% during the fourth quarter. Welch Group LLC now owns 5,899 shares of the basic materials company’s stock valued at $283,000 after purchasing an additional 199 shares during the period. Compound Planning Inc. lifted its holdings in shares of Teck Resources by 1.0% during the 4th quarter. Compound Planning Inc. now owns 32,266 shares of the basic materials company’s stock valued at $1,545,000 after buying an additional 333 shares during the period. 44 Wealth Management LLC boosted its stake in shares of Teck Resources by 1.3% in the 4th quarter. 44 Wealth Management LLC now owns 31,488 shares of the basic materials company’s stock worth $1,508,000 after buying an additional 411 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Teck Resources by 5.5% in the third quarter. NewEdge Advisors LLC now owns 8,635 shares of the basic materials company’s stock worth $379,000 after acquiring an additional 452 shares during the period. Finally, Blue Trust Inc. increased its position in Teck Resources by 411.8% during the first quarter. Blue Trust Inc. now owns 563 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 453 shares during the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on TECK shares. Veritas cut Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 4th. Zacks Research cut shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. TD Securities reissued a “hold” rating on shares of Teck Resources in a report on Friday, April 24th. Scotiabank restated a “sector perform” rating on shares of Teck Resources in a research report on Monday, June 15th. Finally, Weiss Ratings raised shares of Teck Resources from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, April 24th. Five research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $59.17.

Teck Resources Stock Performance

NYSE:TECK opened at $58.21 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.16 and a current ratio of 2.83. The stock has a 50-day simple moving average of $62.41 and a two-hundred day simple moving average of $55.70. The firm has a market capitalization of $28.06 billion, a PE ratio of 21.32, a P/E/G ratio of 3.48 and a beta of 0.89. Teck Resources Ltd has a 52-week low of $30.98 and a 52-week high of $71.25.

Teck Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.125 per share. The ex-dividend date is Monday, June 15th. This represents a $0.50 dividend on an annualized basis and a yield of 0.9%. Teck Resources’s dividend payout ratio (DPR) is presently 13.19%.

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.