Teck Resources Ltd $TECK Shares Purchased by Klein Pavlis & Peasley Financial Inc.

Klein Pavlis & Peasley Financial Inc. increased its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 9.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 46,783 shares of the basic materials company’s stock after buying an additional 4,183 shares during the quarter. Teck Resources comprises approximately 1.3% of Klein Pavlis & Peasley Financial Inc.’s investment portfolio, making the stock its 28th largest holding. Klein Pavlis & Peasley Financial Inc.’s holdings in Teck Resources were worth $1,889,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Signaturefd LLC raised its holdings in shares of Teck Resources by 21.4% during the second quarter. Signaturefd LLC now owns 21,560 shares of the basic materials company’s stock worth $871,000 after purchasing an additional 3,798 shares during the last quarter. Fifth Third Bancorp grew its position in Teck Resources by 8.0% during the 2nd quarter. Fifth Third Bancorp now owns 8,314 shares of the basic materials company’s stock worth $336,000 after purchasing an additional 616 shares during the period. Park Avenue Securities LLC raised its stake in shares of Teck Resources by 29.3% during the 2nd quarter. Park Avenue Securities LLC now owns 19,802 shares of the basic materials company’s stock valued at $800,000 after buying an additional 4,489 shares during the last quarter. Avanza Fonder AB acquired a new position in shares of Teck Resources in the 2nd quarter valued at about $1,176,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of Teck Resources by 351.8% in the second quarter. Farther Finance Advisors LLC now owns 4,654 shares of the basic materials company’s stock worth $188,000 after buying an additional 3,624 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TECK has been the topic of a number of analyst reports. Scotiabank reaffirmed an “outperform” rating on shares of Teck Resources in a research note on Wednesday, September 10th. Royal Bank Of Canada dropped their price target on shares of Teck Resources from $82.00 to $67.00 and set an “outperform” rating on the stock in a research report on Friday, July 25th. Benchmark decreased their price objective on shares of Teck Resources from $55.00 to $48.00 and set a “buy” rating for the company in a research report on Monday, July 28th. Cibc World Mkts cut Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 25th. Finally, UBS Group upgraded Teck Resources from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.88.

Teck Resources Price Performance

NYSE:TECK opened at $41.41 on Monday. The stock has a 50 day moving average of $35.31 and a two-hundred day moving average of $36.47. Teck Resources Ltd has a 12 month low of $28.32 and a 12 month high of $53.63. The firm has a market cap of $19.89 billion, a P/E ratio of 108.98, a price-to-earnings-growth ratio of 0.61 and a beta of 0.78. The company has a current ratio of 3.47, a quick ratio of 2.45 and a debt-to-equity ratio of 0.15.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Thursday, July 24th. The basic materials company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.20 by $0.07. The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $2.25 billion. Teck Resources had a return on equity of 3.91% and a net margin of 2.51%.The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.79 earnings per share. On average, analysts expect that Teck Resources Ltd will post 1.53 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be paid a $0.0918 dividend. This is an increase from Teck Resources’s previous quarterly dividend of $0.09. This represents a $0.37 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, September 15th. Teck Resources’s payout ratio is 94.74%.

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.