Teck Resources Limited (NYSE:TECK) is Foresight Global Investors Inc.’s 10th Largest Position

Foresight Global Investors Inc. grew its stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 138.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 220,379 shares of the basic materials company’s stock after acquiring an additional 128,079 shares during the period. Teck Resources accounts for 5.1% of Foresight Global Investors Inc.’s investment portfolio, making the stock its 10th biggest holding. Foresight Global Investors Inc.’s holdings in Teck Resources were worth $10,556,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Hexagon Capital Partners LLC increased its holdings in Teck Resources by 143.0% in the first quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock worth $30,000 after buying an additional 386 shares during the last quarter. Creekmur Asset Management LLC bought a new stake in Teck Resources in the fourth quarter worth approximately $35,000. Headlands Technologies LLC bought a new stake in Teck Resources in the second quarter worth approximately $38,000. Optiver Holding B.V. increased its stake in shares of Teck Resources by 81.9% during the 4th quarter. Optiver Holding B.V. now owns 973 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 438 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Teck Resources by 583.1% during the 2nd quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 898 shares in the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Eight Capital downgraded Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 11th. BMO Capital Markets started coverage on Teck Resources in a report on Monday, July 15th. They set an “outperform” rating on the stock. StockNews.com cut shares of Teck Resources from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. Benchmark reiterated a “buy” rating and issued a $55.00 target price on shares of Teck Resources in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. cut their target price on shares of Teck Resources from $56.00 to $54.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Teck Resources presently has an average rating of “Moderate Buy” and a consensus target price of $65.00.

Teck Resources Price Performance

Shares of Teck Resources stock opened at $47.06 on Tuesday. 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 cap of $24.08 billion, a PE ratio of 20.82 and a beta of 1.01. The firm has a fifty day moving average price of $46.98 and a two-hundred day moving average price of $47.50. Teck Resources Limited has a fifty-two week low of $34.38 and a fifty-two week high of $55.13.

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

Teck Resources Increases Dividend

The company also recently disclosed 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. This represents a $2.50 annualized dividend and a dividend yield of 5.31%. The ex-dividend date of this dividend is Friday, September 13th. This is a positive change from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s dividend payout ratio (DPR) is presently 16.37%.

About Teck Resources

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.