Teck Resources Limited (NYSE:TECK) Shares Sold by Forsta AP Fonden

Forsta AP Fonden lessened its stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 14.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 78,900 shares of the basic materials company’s stock after selling 13,100 shares during the period. Forsta AP Fonden’s holdings in Teck Resources were worth $3,780,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TECK. Hexagon Capital Partners LLC raised its position in Teck Resources by 143.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock worth $30,000 after buying an additional 386 shares during the last quarter. Creekmur Asset Management LLC purchased a new position in Teck Resources during the fourth quarter worth about $35,000. Headlands Technologies LLC acquired a new stake in Teck Resources in the second quarter valued at about $38,000. Optiver Holding B.V. boosted its holdings in Teck Resources by 81.9% in the 4th quarter. Optiver Holding B.V. now owns 973 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 438 shares in the last quarter. Finally, Blue Trust Inc. increased its position in Teck Resources by 583.1% during the 2nd quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 898 shares during the period. 78.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. JPMorgan Chase & Co. reduced their price target on Teck Resources from $56.00 to $54.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. UBS Group raised Teck Resources from a “neutral” rating to a “buy” rating and raised their target price for the company from $76.00 to $78.00 in a report on Wednesday, September 4th. BMO Capital Markets initiated coverage on shares of Teck Resources in a research note on Monday, July 15th. They set an “outperform” rating on the stock. Eight Capital cut shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 11th. Finally, Paradigm Capital upgraded shares of Teck Resources to a “moderate buy” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $65.00.

Teck Resources Trading Up 0.1 %

Shares of TECK opened at $46.33 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 0.77. Teck Resources Limited has a 1-year low of $34.38 and a 1-year high of $55.13. The stock has a market cap of $23.70 billion, a price-to-earnings ratio of 20.50 and a beta of 1.01. The firm has a 50 day simple moving average of $47.02 and a 200-day simple moving average of $47.37.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.32. Teck Resources had a return on equity of 6.52% and a net margin of 9.40%. The company had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter last year, the business posted $0.91 earnings per share. Teck Resources’s revenue was up 10.1% compared to the same quarter last year. Equities analysts forecast that Teck Resources Limited will post 2 EPS for the current fiscal year.

Teck Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $0.625 dividend. This is an increase from Teck Resources’s previous quarterly dividend of $0.09. The ex-dividend date is Friday, September 13th. This represents a $2.50 annualized dividend and a yield of 5.40%. Teck Resources’s payout ratio is presently 16.37%.

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.