Caption Management LLC Reduces Stake in Teck Resources Ltd $TECK

Caption Management LLC lowered its stake in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 81.9% in the 1st quarter, Holdings Channel reports. The firm owned 30,000 shares of the basic materials company’s stock after selling 135,728 shares during the quarter. Caption Management LLC’s holdings in Teck Resources were worth $1,093,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC lifted its holdings in shares of Teck Resources by 69.2% in the first quarter. Smartleaf Asset Management LLC now owns 856 shares of the basic materials company’s stock worth $32,000 after buying an additional 350 shares in the last quarter. Costello Asset Management INC bought a new stake in Teck Resources during the 1st quarter worth approximately $33,000. Banque Cantonale Vaudoise purchased a new stake in Teck Resources in the 1st quarter worth approximately $36,000. Golden State Wealth Management LLC boosted its holdings in Teck Resources by 7,560.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,149 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 1,134 shares during the period. Finally, Ameriflex Group Inc. purchased a new position in shares of Teck Resources during the 4th quarter valued at $50,000. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Price Performance

Shares of Teck Resources stock opened at $34.21 on Monday. The firm has a market capitalization of $16.52 billion, a PE ratio of 90.03, a price-to-earnings-growth ratio of 0.53 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 Ltd has a 12 month low of $28.32 and a 12 month high of $54.13. The business’s 50-day moving average price is $35.70 and its 200-day moving average price is $36.82.

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

Teck Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be given a $0.0918 dividend. This represents a $0.37 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Monday, September 15th. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s dividend payout ratio is 94.74%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TECK. Stifel Canada upgraded Teck Resources to a “hold” rating in a research report on Tuesday, July 8th. Desjardins cut Teck Resources from a “buy” rating to a “hold” rating in a report on Friday, July 18th. B. Riley lowered Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, July 28th. Wall Street Zen upgraded shares of Teck Resources from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, CIBC lowered shares of Teck Resources from a “sector outperform” rating to a “neutral” rating in a research report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, Teck Resources presently has an average rating of “Hold” and an average price target of $60.11.

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.