NumerixS Investment Technologies Inc lowered its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 30.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,500 shares of the basic materials company’s stock after selling 4,176 shares during the period. NumerixS Investment Technologies Inc’s holdings in Teck Resources were worth $219,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in TECK. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Teck Resources by 19.0% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 24,204 shares of the basic materials company’s stock valued at $561,000 after acquiring an additional 3,873 shares in the last quarter. US Bancorp DE raised its holdings in shares of Teck Resources by 24.8% in the 1st quarter. US Bancorp DE now owns 20,579 shares of the basic materials company’s stock valued at $477,000 after acquiring an additional 4,091 shares in the last quarter. PCJ Investment Counsel Ltd. raised its holdings in shares of Teck Resources by 25.4% in the 1st quarter. PCJ Investment Counsel Ltd. now owns 956,032 shares of the basic materials company’s stock valued at $22,127,000 after acquiring an additional 193,530 shares in the last quarter. Great West Life Assurance Co. Can raised its holdings in shares of Teck Resources by 10.9% in the 1st quarter. Great West Life Assurance Co. Can now owns 4,649,511 shares of the basic materials company’s stock valued at $107,162,000 after acquiring an additional 455,165 shares in the last quarter. Finally, Shell Asset Management Co. raised its holdings in shares of Teck Resources by 1.1% in the 1st quarter. Shell Asset Management Co. now owns 45,078 shares of the basic materials company’s stock valued at $1,043,000 after acquiring an additional 500 shares in the last quarter. 53.67% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have weighed in on TECK shares. Macquarie started coverage on Teck Resources in a report on Wednesday, July 10th. They issued a “neutral” rating on the stock. B. Riley reaffirmed a “buy” rating on shares of Teck Resources in a report on Thursday, August 22nd. TD Securities cut Teck Resources to a “buy” rating in a report on Monday, July 22nd. ValuEngine raised Teck Resources from a “strong sell” rating to a “sell” rating in a report on Thursday, September 5th. Finally, Zacks Investment Research cut Teck Resources from a “buy” rating to a “hold” rating in a report on Saturday, July 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $29.33.
Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Thursday, July 25th. The basic materials company reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.04). The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Teck Resources had a net margin of 20.37% and a return on equity of 8.49%. During the same period in the prior year, the business posted $1.12 earnings per share. As a group, sell-side analysts forecast that Teck Resources Ltd will post 2.75 earnings per share for the current fiscal year.
The company also recently disclosed a — dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a dividend of $0.0376 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a dividend yield of 0.9%. Teck Resources’s dividend payout ratio is 4.78%.
Teck Resources Profile
Teck Resources Limited researches, explores for, develops, and produces natural resources in the Asia Pacific, the Americas, and Europe. It operates through five segments: Steelmaking, Coal, Copper, Zinc, Energy, and Corporate. The company's principal products include steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.
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