Teck Resources Ltd $TECK Holdings Boosted by Tidal Investments LLC

Tidal Investments LLC increased its holdings in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 9.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 166,945 shares of the basic materials company’s stock after buying an additional 13,811 shares during the quarter. Tidal Investments LLC’s holdings in Teck Resources were worth $9,789,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in TECK. RFG Advisory LLC acquired a new position in shares of Teck Resources in the second quarter worth $207,000. Squarepoint Ops LLC acquired a new stake in shares of Teck Resources during the 2nd quarter valued at about $7,952,000. Allworth Financial LP grew its stake in shares of Teck Resources by 228.9% in the 2nd quarter. Allworth Financial LP now owns 7,288 shares of the basic materials company’s stock valued at $433,000 after buying an additional 5,072 shares in the last quarter. Nykredit A S bought a new stake in Teck Resources in the second quarter worth approximately $4,076,000. Finally, HB Wealth Management LLC bought a new stake in Teck Resources in the second quarter worth $293,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Stock Performance

Teck Resources stock opened at $66.36 on Friday. Teck Resources Ltd has a 12-month low of $38.00 and a 12-month high of $72.56. The stock has a 50-day simple moving average of $63.74 and a 200 day simple moving average of $60.32. The stock has a market capitalization of $32.05 billion, a price-to-earnings ratio of 17.98, a P/E/G ratio of 2.06 and a beta of 0.94. The company has a quick ratio of 2.33, a current ratio of 3.12 and a debt-to-equity ratio of 0.12.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $1.35 EPS for the quarter, beating the consensus estimate of $0.95 by $0.40. The business had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Teck Resources had a net margin of 17.85% and a return on equity of 10.42%. Teck Resources’s revenue was up 78.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.38 earnings per share. On average, research analysts anticipate that Teck Resources Ltd will post 4.03 earnings per share for the current fiscal year.

Teck Resources Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have commented on TECK. Wall Street Zen downgraded Teck Resources from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 26th. JPMorgan Chase & Co. upped their price target on Teck Resources from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, July 28th. Scotiabank reiterated a “sector perform” rating on shares of Teck Resources in a research report on Monday, June 15th. Deutsche Bank Aktiengesellschaft lifted their price objective on Teck Resources from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Finally, Raymond James Financial raised shares of Teck Resources from a “market perform” rating to an “outperform” rating in a report on Thursday, July 23rd. Six analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, Teck Resources presently has an average rating of “Hold” and an average price target of $62.25.

Teck Resources Company Profile

Teck Resources Limited is a Canadian mining and metals company focused primarily on the exploration, development and production of base metals. Its principal products include copper, zinc and lead, along with associated by-products such as molybdenum, silver and germanium. Copper is an increasingly important part of Teck’s business as the metal is used in electrical infrastructure, renewable energy systems, transportation and industrial applications.

Teck operates and develops mining assets in Canada, Chile and Peru.