MSH Capital Advisors LLC Buys Shares of 5,270 Teck Resources Ltd $TECK

MSH Capital Advisors LLC bought a new stake in Teck Resources Ltd (NYSE:TECKFree Report) (TSE:TECK) in the second quarter, HoldingsChannel reports. The institutional investor bought 5,270 shares of the basic materials company’s stock, valued at approximately $213,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC lifted its holdings in Teck Resources by 69.2% in the first quarter. Smartleaf Asset Management LLC now owns 856 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 350 shares during the period. Costello Asset Management INC acquired a new stake in Teck Resources in the first quarter valued at $33,000. Banque Cantonale Vaudoise acquired a new stake in Teck Resources in the first quarter valued at $36,000. Golden State Wealth Management LLC lifted its holdings in Teck Resources by 7,560.0% in the first quarter. Golden State Wealth Management LLC now owns 1,149 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 1,134 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Teck Resources in the second quarter valued at $49,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Wall Street Zen raised Teck Resources from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Stifel Canada raised Teck Resources to a “hold” rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. lifted their price target on Teck Resources from $41.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday. Morgan Stanley downgraded Teck Resources from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $42.00 to $44.00 in a research note on Tuesday, July 15th. Finally, UBS Group raised Teck Resources from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $54.00.

Get Our Latest Stock Report on Teck Resources

Teck Resources Trading Up 2.0%

Shares of TECK stock opened at $43.88 on Friday. The firm has a 50-day moving average price of $36.84 and a 200 day moving average price of $36.63. Teck Resources Ltd has a twelve month low of $28.32 and a twelve month high of $51.58. The company has a market capitalization of $21.08 billion, a price-to-earnings ratio of 115.48, a PEG ratio of 0.54 and a beta of 0.92. 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:TECKGet Free Report) (TSE:TECK) last announced its earnings results on Thursday, July 24th. The basic materials company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.07. Teck Resources had a net margin of 2.51% and a return on equity of 3.91%. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the previous year, the company posted $0.79 EPS. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. Research analysts forecast that Teck Resources Ltd will post 1.53 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were paid a $0.0918 dividend. This represents a $0.37 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Monday, September 15th. This is a positive change from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s dividend payout ratio is presently 94.74%.

Teck Resources Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Teck Resources (NYSE:TECK)

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