Teck Resources Ltd $TECK Shares Purchased by Heathbridge Capital Management Ltd.

Heathbridge Capital Management Ltd. grew its position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 64.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 234,050 shares of the basic materials company’s stock after purchasing an additional 91,450 shares during the quarter. Teck Resources accounts for 3.9% of Heathbridge Capital Management Ltd.’s portfolio, making the stock its 13th largest position. Heathbridge Capital Management Ltd.’s holdings in Teck Resources were worth $10,261,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of TECK. Norges Bank bought a new position in shares of Teck Resources during the 2nd quarter valued at about $437,657,000. Northwest & Ethical Investments L.P. raised its holdings in shares of Teck Resources by 16.1% in the 2nd quarter. Northwest & Ethical Investments L.P. now owns 157,645 shares of the basic materials company’s stock worth $6,402,000 after purchasing an additional 21,900 shares in the last quarter. Swiss National Bank lifted its stake in Teck Resources by 6.0% during the second quarter. Swiss National Bank now owns 1,428,679 shares of the basic materials company’s stock valued at $57,555,000 after purchasing an additional 80,300 shares during the last quarter. Invesco Ltd. boosted its holdings in Teck Resources by 10.8% during the second quarter. Invesco Ltd. now owns 5,565,955 shares of the basic materials company’s stock worth $224,753,000 after buying an additional 543,554 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in Teck Resources by 6.9% in the second quarter. Franklin Resources Inc. now owns 368,585 shares of the basic materials company’s stock worth $14,897,000 after buying an additional 23,842 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Stock Performance

Shares of TECK stock opened at $46.19 on Thursday. Teck Resources Ltd has a 1-year low of $28.32 and a 1-year high of $47.06. The company has a current ratio of 2.78, a quick ratio of 2.08 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $22.20 billion, a price-to-earnings ratio of 25.95, a P/E/G ratio of 0.67 and a beta of 0.83. The stock’s fifty day simple moving average is $42.92 and its 200-day simple moving average is $39.49.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Wednesday, October 22nd. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.16. Teck Resources had a return on equity of 4.14% and a net margin of 11.93%.The firm had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same period in the prior year, the business earned $0.60 EPS. The business’s revenue for the quarter was up 18.4% on a year-over-year basis. On average, sell-side analysts predict that Teck Resources Ltd will post 1.53 earnings per share for the current fiscal 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 paid a $0.125 dividend. The ex-dividend date is Monday, December 15th. This represents a $0.50 annualized dividend and a yield of 1.1%. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s dividend payout ratio (DPR) is currently 19.66%.

Analyst Ratings Changes

TECK has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $46.00 price objective on shares of Teck Resources in a research report on Wednesday, November 26th. JPMorgan Chase & Co. upped their target price on Teck Resources from $43.00 to $51.00 and gave the company a “neutral” rating in a report on Friday, December 5th. Raymond James Financial reiterated an “outperform” rating on shares of Teck Resources in a research report on Friday, October 10th. Canaccord Genuity Group downgraded Teck Resources from a “buy” rating to a “hold” rating in a report on Wednesday, October 8th. Finally, Veritas lowered shares of Teck Resources from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $55.71.

Teck Resources 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.