Signaturefd LLC Acquires 1,074 Shares of Teck Resources Limited (NYSE:TECK)

Signaturefd LLC lifted its holdings in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 6.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 17,825 shares of the basic materials company’s stock after acquiring an additional 1,074 shares during the period. Signaturefd LLC’s holdings in Teck Resources were worth $854,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in TECK. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Teck Resources in the 2nd quarter valued at $921,000. Crossmark Global Holdings Inc. boosted its stake in shares of Teck Resources by 5.6% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 21,629 shares of the basic materials company’s stock valued at $1,036,000 after purchasing an additional 1,142 shares in the last quarter. Braun Stacey Associates Inc. grew its holdings in shares of Teck Resources by 5.9% in the 2nd quarter. Braun Stacey Associates Inc. now owns 427,754 shares of the basic materials company’s stock worth $20,489,000 after purchasing an additional 23,684 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Teck Resources by 7.3% during the 2nd quarter. Principal Financial Group Inc. now owns 6,103,740 shares of the basic materials company’s stock worth $292,441,000 after purchasing an additional 416,070 shares in the last quarter. Finally, K.J. Harrison & Partners Inc lifted its holdings in Teck Resources by 13.5% during the 2nd quarter. K.J. Harrison & Partners Inc now owns 218,125 shares of the basic materials company’s stock valued at $10,448,000 after purchasing an additional 26,000 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. BMO Capital Markets assumed coverage on shares of Teck Resources in a research note on Monday, July 15th. They set an “outperform” rating on the stock. Benchmark reaffirmed a “buy” rating and set a $55.00 price target on shares of Teck Resources in a report on Thursday, July 25th. Morgan Stanley boosted their price objective on Teck Resources from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, June 21st. TD Securities raised Teck Resources to a “strong-buy” rating in a report on Tuesday, July 16th. Finally, Paradigm Capital raised Teck Resources to a “moderate buy” rating in a research note on Friday, July 26th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $62.40.

Teck Resources Trading Up 1.1 %

Shares of NYSE:TECK traded up $0.53 during midday trading on Friday, hitting $47.90. The company had a trading volume of 1,163,476 shares, compared to its average volume of 3,485,205. The firm has a fifty day simple moving average of $47.73 and a 200 day simple moving average of $46.84. The stock has a market cap of $24.51 billion, a price-to-earnings ratio of 21.19 and a beta of 1.05. The company has a current ratio of 1.48, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19. 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 posted its earnings results on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.32. The company had revenue of $3.87 billion during the quarter, compared to analyst estimates of $2.67 billion. Teck Resources had a return on equity of 6.52% and a net margin of 9.40%. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.91 EPS. On average, analysts predict that Teck Resources Limited will post 1.97 EPS for the current year.

Teck Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 5.22%. The ex-dividend date of this dividend is Friday, September 13th. This is an increase from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s dividend payout ratio is presently 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.