TD Waterhouse Canada Inc. Sells 57,982 Shares of Teck Resources Ltd $TECK

TD Waterhouse Canada Inc. trimmed its stake in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 3.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,815,321 shares of the basic materials company’s stock after selling 57,982 shares during the period. TD Waterhouse Canada Inc.’s holdings in Teck Resources were worth $72,551,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Canoe Financial LP purchased a new position in Teck Resources in the 2nd quarter worth approximately $97,536,000. Temasek Holdings Private Ltd raised its position in shares of Teck Resources by 125.8% during the 1st quarter. Temasek Holdings Private Ltd now owns 2,479,555 shares of the basic materials company’s stock valued at $90,330,000 after buying an additional 1,381,355 shares in the last quarter. Ninety One UK Ltd lifted its holdings in shares of Teck Resources by 436.6% during the 2nd quarter. Ninety One UK Ltd now owns 1,480,334 shares of the basic materials company’s stock worth $59,768,000 after acquiring an additional 1,204,440 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Teck Resources by 168.9% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,879,437 shares of the basic materials company’s stock worth $76,054,000 after acquiring an additional 1,180,519 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its position in Teck Resources by 37.3% in the first quarter. Canada Pension Plan Investment Board now owns 3,715,016 shares of the basic materials company’s stock worth $135,349,000 after acquiring an additional 1,009,545 shares in the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

Teck Resources Stock Down 3.4%

Shares of NYSE:TECK opened at $39.04 on Wednesday. The stock has a market capitalization of $18.76 billion, a P/E ratio of 21.93, a price-to-earnings-growth ratio of 0.74 and a beta of 0.90. The stock’s 50-day moving average price is $42.08 and its 200-day moving average price is $38.25. The company has a current ratio of 2.78, a quick ratio of 2.08 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 $48.47.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Wednesday, October 22nd. The basic materials company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.16. The company had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.93 billion. Teck Resources had a return on equity of 4.14% and a net margin of 11.93%.Teck Resources’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.60 EPS. On average, equities analysts anticipate that Teck Resources Ltd will post 1.53 earnings per share for the current year.

Teck Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be given a $0.125 dividend. The ex-dividend date is Monday, December 15th. This is an increase from Teck Resources’s previous quarterly dividend of $0.09. This represents a $0.50 annualized dividend and a yield of 1.3%. Teck Resources’s dividend payout ratio is presently 19.66%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on TECK shares. Cibc World Mkts downgraded Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 25th. Weiss Ratings upgraded Teck Resources from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, October 24th. B. Riley cut Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, July 28th. Wall Street Zen upgraded Teck Resources from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Canaccord Genuity Group lowered Teck Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $54.00.

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.