2,500 Shares in Teck Resources Limited (NYSE:TECK) Acquired by Tradewinds Capital Management LLC

Tradewinds Capital Management LLC bought a new position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 2,500 shares of the basic materials company’s stock, valued at approximately $114,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Hexagon Capital Partners LLC increased its stake in shares of Teck Resources by 143.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock valued at $30,000 after buying an additional 386 shares during the period. Creekmur Asset Management LLC acquired a new stake in shares of Teck Resources during the fourth quarter worth $35,000. Optiver Holding B.V. lifted its holdings in Teck Resources by 81.9% during the fourth quarter. Optiver Holding B.V. now owns 973 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 438 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in Teck Resources by 69.4% during the fourth quarter. First Horizon Advisors Inc. now owns 1,162 shares of the basic materials company’s stock worth $49,000 after acquiring an additional 476 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in Teck Resources by 187.3% during the fourth quarter. Blue Trust Inc. now owns 1,494 shares of the basic materials company’s stock worth $64,000 after acquiring an additional 974 shares in the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Teck Resources Stock Up 3.2 %

Shares of NYSE:TECK traded up $1.57 during midday trading on Wednesday, reaching $50.11. The company had a trading volume of 1,584,616 shares, compared to its average volume of 3,597,560. The company has a quick ratio of 0.86, a current ratio of 1.49 and a debt-to-equity ratio of 0.20. The business’s 50 day moving average price is $49.82 and its 200 day moving average price is $44.59. The stock has a market cap of $25.60 billion, a PE ratio of 21.48, a P/E/G ratio of 10.35 and a beta of 1.05. Teck Resources Limited has a 1-year low of $34.38 and a 1-year high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.31). The business had revenue of $2.96 billion for the quarter, compared to analyst estimates of $2.99 billion. Teck Resources had a return on equity of 7.52% and a net margin of 10.59%. Research analysts forecast that Teck Resources Limited will post 2.24 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were given a dividend of $0.0911 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend was Monday, June 17th. Teck Resources’s dividend payout ratio (DPR) is presently 15.93%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Benchmark lifted their target price on Teck Resources from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Morgan Stanley boosted their price target on Teck Resources from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, June 21st. Finally, JPMorgan Chase & Co. boosted their price target on Teck Resources from $44.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $58.57.

Teck Resources Company 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.