Williams Financial LLC Takes Position in Teck Resources Limited (NYSE:TECK)

Williams Financial LLC purchased a new position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 6,576 shares of the basic materials company’s stock, valued at approximately $314,000.

Other hedge funds also recently bought and sold shares of the company. FIL Ltd raised its position in Teck Resources by 98.8% during the fourth quarter. FIL Ltd now owns 11,937,233 shares of the basic materials company’s stock worth $504,588,000 after acquiring an additional 5,933,226 shares during the period. Norges Bank acquired a new position in shares of Teck Resources during the 4th quarter worth about $172,740,000. AMF Tjanstepension AB lifted its stake in Teck Resources by 846.6% in the 2nd quarter. AMF Tjanstepension AB now owns 4,383,031 shares of the basic materials company’s stock valued at $210,034,000 after buying an additional 3,919,984 shares in the last quarter. Asia Research & Capital Management Ltd acquired a new stake in Teck Resources in the 1st quarter worth about $158,976,000. Finally, Principal Financial Group Inc. increased its stake in Teck Resources by 115.4% during the 1st quarter. Principal Financial Group Inc. now owns 5,687,670 shares of the basic materials company’s stock worth $260,584,000 after buying an additional 3,047,570 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on TECK. BMO Capital Markets began coverage on Teck Resources in a research report on Monday, July 15th. They issued an “outperform” rating on the stock. UBS Group upgraded Teck Resources from a “neutral” rating to a “buy” rating and raised their price objective for the company from $76.00 to $78.00 in a report on Wednesday, September 4th. Paradigm Capital raised shares of Teck Resources to a “moderate buy” rating in a report on Friday, July 26th. Morgan Stanley boosted their price target on shares of Teck Resources from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, June 21st. Finally, Benchmark reiterated a “buy” rating and issued a $55.00 price objective on shares of Teck Resources in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Teck Resources has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

Teck Resources Price Performance

Shares of TECK stock opened at $46.33 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 0.77. The company has a market capitalization of $23.70 billion, a PE ratio of 20.50 and a beta of 1.01. The firm’s 50-day moving average is $47.02 and its two-hundred day moving average is $47.31. Teck Resources Limited has a 12 month low of $34.38 and a 12 month high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.47 by $0.32. The firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $2.67 billion. Teck Resources had a net margin of 9.40% and a return on equity of 6.52%. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.91 EPS. Analysts predict that Teck Resources Limited will post 2 earnings per share for the current year.

Teck Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.625 per share. The ex-dividend date of this dividend is Friday, September 13th. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.40%. Teck Resources’s dividend payout ratio is currently 16.37%.

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.