Vontobel Holding Ltd. Has $4.22 Million Stock Position in Teck Resources Ltd $TECK

Vontobel Holding Ltd. increased its stake in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 18.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 104,295 shares of the basic materials company’s stock after acquiring an additional 15,992 shares during the quarter. Vontobel Holding Ltd.’s holdings in Teck Resources were worth $4,220,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Teck Resources by 1.1% in the first quarter. Vanguard Group Inc. now owns 19,531,542 shares of the basic materials company’s stock worth $711,475,000 after acquiring an additional 215,410 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Teck Resources by 56.9% in the first quarter. Principal Financial Group Inc. now owns 11,530,742 shares of the basic materials company’s stock worth $419,970,000 after acquiring an additional 4,180,623 shares during the period. Boston Partners lifted its stake in shares of Teck Resources by 1.9% in the first quarter. Boston Partners now owns 9,251,775 shares of the basic materials company’s stock worth $337,042,000 after acquiring an additional 173,203 shares during the period. Mackenzie Financial Corp increased its holdings in Teck Resources by 2.3% in the first quarter. Mackenzie Financial Corp now owns 6,020,429 shares of the basic materials company’s stock worth $219,297,000 after purchasing an additional 137,886 shares in the last quarter. Finally, TD Asset Management Inc increased its holdings in Teck Resources by 0.6% in the first quarter. TD Asset Management Inc now owns 6,006,865 shares of the basic materials company’s stock worth $218,781,000 after purchasing an additional 33,475 shares in the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TECK shares. B. Riley downgraded Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, July 28th. Deutsche Bank Aktiengesellschaft upgraded Teck Resources from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a report on Monday, September 8th. Canaccord Genuity Group downgraded Teck Resources from a “buy” rating to a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. lifted their target price on Teck Resources from $41.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Teck Resources in a report on Wednesday. One research 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 issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $54.00.

Teck Resources Trading Down 4.5%

NYSE TECK opened at $41.90 on Friday. The company has a market cap of $20.13 billion, a price-to-earnings ratio of 110.28, a P/E/G ratio of 0.56 and a beta of 0.92. Teck Resources Ltd has a 52 week low of $28.32 and a 52 week high of $51.58. The business has a 50 day moving average price of $37.04 and a 200-day moving average price of $36.62. The company has a quick ratio of 2.45, a current ratio of 3.47 and a debt-to-equity ratio of 0.15.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Thursday, July 24th. The basic materials company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.20 by $0.07. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $2.25 billion. Teck Resources had a return on equity of 3.91% and a net margin of 2.51%.The company’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.79 earnings per share. As a group, equities analysts expect that Teck Resources Ltd will post 1.53 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were issued a dividend of $0.0918 per share. This is a positive change from Teck Resources’s previous quarterly dividend of $0.09. This represents a $0.37 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Monday, September 15th. Teck Resources’s dividend payout ratio is presently 94.74%.

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.