DekaBank Deutsche Girozentrale Buys 500,715 Shares of Teck Resources Limited (NYSE:TECK)

DekaBank Deutsche Girozentrale lifted its holdings in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 414.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 621,556 shares of the basic materials company’s stock after acquiring an additional 500,715 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Teck Resources were worth $27,118,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Hexagon Capital Partners LLC lifted its position in shares of Teck Resources by 143.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 386 shares during the period. Creekmur Asset Management LLC acquired a new position in shares of Teck Resources during the 4th quarter valued at $35,000. Optiver Holding B.V. lifted its position 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 acquiring an additional 438 shares during the period. First Horizon Advisors Inc. lifted its position in shares of Teck Resources by 69.4% during the 4th quarter. First Horizon Advisors Inc. now owns 1,162 shares of the basic materials company’s stock valued at $49,000 after acquiring an additional 476 shares during the period. Finally, Blue Trust Inc. lifted its position in shares of Teck Resources by 187.3% during the 4th quarter. Blue Trust Inc. now owns 1,494 shares of the basic materials company’s stock valued at $64,000 after acquiring an additional 974 shares during the period. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Stock Performance

TECK traded down $1.98 during trading on Friday, hitting $45.14. 4,176,677 shares of the company traded hands, compared to its average volume of 3,894,503. The firm has a market cap of $23.06 billion, a P/E ratio of 19.97, a price-to-earnings-growth ratio of 10.71 and a beta of 1.05. The stock’s fifty day moving average is $48.58 and its 200 day moving average is $45.68. The company has a quick ratio of 0.77, a current ratio of 1.48 and a debt-to-equity ratio of 0.19. Teck Resources Limited has a one year low of $34.38 and a one year high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share for the quarter, beating 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 net margin of 9.40% and a return on equity of 6.52%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.91 earnings per share. As a group, equities analysts predict that Teck Resources Limited will post 2.13 EPS for the current fiscal year.

Teck Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.625 per share. 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. This represents a $2.50 annualized dividend and a yield of 5.54%. Teck Resources’s dividend payout ratio is 15.93%.

Wall Street Analyst Weigh In

TECK has been the subject of a number of recent research reports. JPMorgan Chase & Co. decreased their price target on shares of Teck Resources from $56.00 to $54.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. BMO Capital Markets initiated coverage on shares of Teck Resources in a research note on Monday, July 15th. They set an “outperform” rating for the company. CIBC boosted their price target on shares of Teck Resources from $70.00 to $80.00 and gave the company an “outperformer” rating in a research note on Friday, July 12th. Eight Capital lowered shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 11th. Finally, Paradigm Capital upgraded shares of Teck Resources to a “moderate buy” rating in a research note on Friday, July 26th. Three investment 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.40.

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.