Mount Yale Investment Advisors LLC Makes New $308,000 Investment in Teck Resources Limited (NYSE:TECK)

Mount Yale Investment Advisors LLC acquired a new position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) during the first quarter, Holdings Channel reports. The firm acquired 6,731 shares of the basic materials company’s stock, valued at approximately $308,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Teck Resources by 1.8% in the first quarter. Vanguard Group Inc. now owns 16,721,130 shares of the basic materials company’s stock valued at $765,493,000 after acquiring an additional 290,034 shares during the last quarter. FIL Ltd increased its stake in Teck Resources by 98.8% in the fourth quarter. FIL Ltd now owns 11,937,233 shares of the basic materials company’s stock valued at $504,588,000 after acquiring an additional 5,933,226 shares during the last quarter. Boston Partners increased its stake in Teck Resources by 28.8% in the fourth quarter. Boston Partners now owns 10,881,781 shares of the basic materials company’s stock valued at $484,995,000 after acquiring an additional 2,432,378 shares during the last quarter. Mackenzie Financial Corp increased its stake in Teck Resources by 45.7% in the fourth quarter. Mackenzie Financial Corp now owns 6,632,418 shares of the basic materials company’s stock valued at $280,491,000 after acquiring an additional 2,080,295 shares during the last quarter. Finally, CIBC Asset Management Inc increased its stake in Teck Resources by 2.8% in the fourth quarter. CIBC Asset Management Inc now owns 6,388,652 shares of the basic materials company’s stock valued at $270,918,000 after acquiring an additional 174,492 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Stock Up 0.2 %

NYSE:TECK traded up $0.08 during midday trading on Monday, reaching $47.53. 3,384,810 shares of the stock traded hands, compared to its average volume of 3,650,308. Teck Resources Limited has a 12-month low of $34.38 and a 12-month high of $55.13. The business has a 50-day moving average of $49.07 and a two-hundred day moving average of $45.46. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 1.48. The stock has a market capitalization of $24.28 billion, a PE ratio of 20.88, a price-to-earnings-growth ratio of 11.28 and a beta of 1.05.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.91 earnings per share. On average, equities analysts forecast that Teck Resources Limited will post 2.03 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a $0.625 dividend. This is a positive change from Teck Resources’s previous quarterly dividend of $0.09. The ex-dividend date is Friday, September 13th. This represents a $2.50 annualized dividend and a dividend yield of 5.26%. Teck Resources’s dividend payout ratio (DPR) is 16.37%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. CIBC increased their target price on Teck Resources from $70.00 to $80.00 and gave the company an “outperformer” rating in a research note on Friday, July 12th. TD Securities raised Teck Resources to a “strong-buy” rating in a research note on Tuesday, July 16th. JPMorgan Chase & Co. reduced their price objective on Teck Resources from $56.00 to $54.00 and set an “overweight” rating on the stock in a research note on Thursday. BMO Capital Markets initiated coverage on Teck Resources in a research note on Monday, July 15th. They set an “outperform” rating on the stock. Finally, Morgan Stanley raised their target price on Teck Resources from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, June 21st. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.40.

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.