5,044 Shares in Teck Resources Ltd $TECK Acquired by Insigneo Advisory Services LLC

Insigneo Advisory Services LLC purchased a new position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,044 shares of the basic materials company’s stock, valued at approximately $204,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Smartleaf Asset Management LLC increased its stake 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 during the period. Costello Asset Management INC bought a new stake in Teck Resources in the 1st quarter worth $33,000. Banque Cantonale Vaudoise bought a new stake in Teck Resources in the 1st quarter worth $36,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Teck Resources in the second quarter valued at about $49,000. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of Teck Resources by 102.5% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,320 shares of the basic materials company’s stock valued at $53,000 after acquiring an additional 668 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Scotiabank reiterated a “sector perform” rating on shares of Teck Resources in a report on Tuesday. Citigroup reiterated a “neutral” rating on shares of Teck Resources in a report on Wednesday, October 8th. Veritas downgraded Teck Resources from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Raymond James Financial reaffirmed an “outperform” rating on shares of Teck Resources in a research note on Friday, October 10th. Finally, UBS Group upgraded shares of Teck Resources from a “neutral” rating to a “buy” rating in a report on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $54.57.

Teck Resources Stock Up 0.9%

Shares of NYSE:TECK opened at $42.62 on Friday. The firm has a market capitalization of $20.48 billion, a P/E ratio of 23.94, a P/E/G ratio of 0.74 and a beta of 0.90. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.08 and a current ratio of 2.78. The stock has a 50 day moving average price of $42.11 and a 200-day moving average price of $38.49. Teck Resources Ltd has a 52-week low of $28.32 and a 52-week high of $48.47.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Wednesday, October 22nd. The basic materials company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.16. The company had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.93 billion. Teck Resources had a return on equity of 4.14% and a net margin of 11.93%.The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.60 earnings per share. As a group, equities research analysts anticipate that Teck Resources Ltd will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Monday, December 15th. This is a positive change from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s dividend payout ratio (DPR) is 19.66%.

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.