Quantinno Capital Management LP Grows Holdings in Teck Resources Ltd $TECK

Quantinno Capital Management LP boosted its position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 22.3% during the first quarter, Holdings Channel.com reports. The fund owned 56,745 shares of the basic materials company’s stock after acquiring an additional 10,343 shares during the quarter. Quantinno Capital Management LP’s holdings in Teck Resources were worth $2,937,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in TECK. Brown Brothers Harriman & Co. bought a new position in shares of Teck Resources in the fourth quarter worth approximately $25,000. Blue Trust Inc. raised its position in shares of Teck Resources by 411.8% during the 1st quarter. Blue Trust Inc. now owns 563 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 453 shares during the period. Geneos Wealth Management Inc. raised its position in shares of Teck Resources by 117.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 561 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 303 shares during the period. Oslo Pensjonsforsikring AS purchased a new position in shares of Teck Resources during the 1st quarter valued at $83,000. Finally, Flagship Harbor Advisors LLC purchased a new position in shares of Teck Resources during the 4th quarter valued at $103,000. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Trading Up 0.6%

TECK stock opened at $66.53 on Friday. The firm has a fifty day moving average price of $61.27 and a 200 day moving average price of $58.31. Teck Resources Ltd has a fifty-two week low of $30.98 and a fifty-two week high of $71.25. The firm has a market cap of $32.13 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 1.95 and a beta of 0.92. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.33 and a current ratio of 3.12.

Teck Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Teck Resources’s dividend payout ratio (DPR) is presently 9.76%.

Analyst Ratings Changes

Several research analysts recently weighed in on TECK shares. Raymond James Financial raised shares of Teck Resources from a “market perform” rating to an “outperform” rating in a report on Thursday, July 23rd. JPMorgan Chase & Co. boosted their price objective on Teck Resources from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, July 28th. TD Securities reaffirmed a “hold” rating on shares of Teck Resources in a research note on Friday, April 24th. Zacks Research cut Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Teck Resources from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Teck Resources currently has a consensus rating of “Hold” and an average target price of $62.25.

Teck Resources Company Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.