Nkcfo LLC Has $192,000 Stock Holdings in Teck Resources Limited (NYSE:TECK)

Nkcfo LLC trimmed its stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 77.8% in the second quarter, HoldingsChannel.com reports. The fund owned 4,000 shares of the basic materials company’s stock after selling 14,000 shares during the quarter. Nkcfo LLC’s holdings in Teck Resources were worth $192,000 at the end of the most recent reporting period.

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

Teck Resources Trading Down 0.1 %

Shares of TECK stock opened at $48.91 on Friday. The stock has a 50-day moving average of $46.85 and a 200-day moving average of $47.63. The company has a current ratio of 1.48, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19. The stock has a market cap of $25.02 billion, a price-to-earnings ratio of 21.64 and a beta of 1.01. Teck Resources Limited has a 1-year low of $34.38 and a 1-year high of $55.13.

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 (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.32. Teck Resources had a net margin of 9.40% and a return on equity of 6.52%. The firm had revenue of $3.87 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same quarter last year, the business earned $0.91 EPS. The company’s revenue was up 10.1% compared to the same quarter last year. On average, equities research analysts forecast that Teck Resources Limited will post 2.02 earnings per share for the current year.

Teck Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.625 per share. This is a positive change 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 dividend yield of 5.11%. Teck Resources’s dividend payout ratio is presently 16.37%.

Wall Street Analysts Forecast Growth

TECK has been the topic of several research analyst reports. UBS Group raised Teck Resources from a “neutral” rating to a “buy” rating and raised their price objective for the company from $76.00 to $78.00 in a research note on Wednesday, September 4th. BMO Capital Markets assumed coverage on shares of Teck Resources in a report on Monday, July 15th. They set an “outperform” rating for the company. Eight Capital downgraded Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 11th. Paradigm Capital raised Teck Resources to a “moderate buy” rating in a report on Friday, July 26th. Finally, Benchmark reissued a “buy” rating and set a $55.00 price target on shares of Teck Resources in a research note on Thursday, July 25th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $65.00.

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.