Ervin Investment Management LLC Takes Position in Teck Resources Limited (NYSE:TECK)

Ervin Investment Management LLC acquired a new position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,500 shares of the basic materials company’s stock, valued at approximately $298,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Creekmur Asset Management LLC bought a new stake in Teck Resources in the 4th quarter worth $35,000. Optiver Holding B.V. boosted 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 valued at $41,000 after purchasing an additional 438 shares in the last quarter. First Horizon Advisors Inc. boosted its stake 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. Blue Trust Inc. boosted its stake 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. Finally, Gold Investment Management Ltd. bought a new stake in Teck Resources during the fourth quarter worth about $110,000. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Teck Resources Price Performance

Shares of TECK traded down $0.04 during mid-day trading on Thursday, reaching $48.20. The stock had a trading volume of 956,759 shares, compared to its average volume of 3,658,224. The firm has a market cap of $24.62 billion, a price-to-earnings ratio of 21.35, a PEG ratio of 10.51 and a beta of 1.08. Teck Resources Limited has a 12 month low of $34.38 and a 12 month high of $55.13. The business has a fifty day moving average of $49.70 and a 200 day moving average of $44.31. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 1.49.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its 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). Teck Resources had a return on equity of 7.52% and a net margin of 10.59%. The company had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.99 billion. Equities analysts predict that Teck Resources Limited will post 2.19 EPS for the current year.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be given a dividend of $0.0911 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.76%. Teck Resources’s dividend payout ratio is 15.93%.

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.