Triasima Portfolio Management inc. Acquires 204,410 Shares of Teck Resources Limited (NYSE:TECK)

Triasima Portfolio Management inc. boosted its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 214.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 299,920 shares of the basic materials company’s stock after buying an additional 204,410 shares during the period. Teck Resources makes up approximately 1.3% of Triasima Portfolio Management inc.’s portfolio, making the stock its 26th biggest position. Triasima Portfolio Management inc. owned approximately 0.06% of Teck Resources worth $14,366,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of TECK. Vanguard Group Inc. lifted its stake in Teck Resources by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 16,721,130 shares of the basic materials company’s stock worth $765,493,000 after purchasing an additional 290,034 shares in the last quarter. FIL Ltd lifted its stake in shares of Teck Resources by 98.8% in the 4th 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 boosted its stake in shares of Teck Resources by 28.8% during the fourth quarter. Boston Partners now owns 10,881,781 shares of the basic materials company’s stock valued at $484,995,000 after purchasing an additional 2,432,378 shares during the period. Janus Henderson Group PLC raised its stake in shares of Teck Resources by 2.4% during the first quarter. Janus Henderson Group PLC now owns 8,604,605 shares of the basic materials company’s stock valued at $394,178,000 after acquiring an additional 203,607 shares during the last quarter. Finally, CIBC Asset Management Inc raised its position in Teck Resources by 2.8% during the 4th quarter. CIBC Asset Management Inc now owns 6,388,652 shares of the basic materials company’s stock valued at $270,918,000 after purchasing an additional 174,492 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on TECK shares. BMO Capital Markets assumed coverage on shares of Teck Resources in a research report on Monday, July 15th. They issued an “outperform” rating on the stock. TD Securities raised Teck Resources to a “strong-buy” rating in a research report on Tuesday, July 16th. JPMorgan Chase & Co. reduced 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 report on Thursday, July 25th. Eight Capital downgraded shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 11th. Finally, Paradigm Capital upgraded shares of Teck Resources to a “moderate buy” rating in a research report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $65.00.

Teck Resources Price Performance

TECK traded down $1.22 during trading on Friday, hitting $43.49. 3,588,917 shares of the company traded hands, compared to its average volume of 2,175,032. The company has a market cap of $22.25 billion, a PE ratio of 19.24 and a beta of 1.01. Teck Resources Limited has a 1 year low of $34.38 and a 1 year high of $55.13. The company has a current ratio of 1.48, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19. The stock’s 50-day simple moving average is $47.45 and its two-hundred day simple moving average is $47.15.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.32. The business had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Teck Resources had a net margin of 9.40% and a return on equity of 6.52%. The business’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.91 earnings per share. As a group, sell-side analysts anticipate that Teck Resources Limited will post 2.01 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a $0.625 dividend. The ex-dividend date is Friday, September 13th. This is an increase from Teck Resources’s previous quarterly dividend of $0.09. This represents a $2.50 dividend on an annualized basis and a yield of 5.75%. Teck Resources’s payout ratio is currently 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.