SYSTM Wealth Solutions LLC Decreases Stock Holdings in Teck Resources Limited (NYSE:TECK)

SYSTM Wealth Solutions LLC lowered its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 52.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,220 shares of the basic materials company’s stock after selling 3,582 shares during the quarter. SYSTM Wealth Solutions LLC’s holdings in Teck Resources were worth $154,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in TECK. Vanguard Group Inc. boosted its holdings in shares of Teck Resources by 1.8% during the first quarter. Vanguard Group Inc. now owns 16,721,130 shares of the basic materials company’s stock worth $765,493,000 after purchasing an additional 290,034 shares during the period. FIL Ltd lifted its holdings in Teck Resources by 98.8% in the 4th quarter. FIL Ltd now owns 11,937,233 shares of the basic materials company’s stock worth $504,588,000 after buying an additional 5,933,226 shares during the period. Janus Henderson Group PLC grew its position in shares of Teck Resources by 2.4% in the 1st quarter. Janus Henderson Group PLC now owns 8,604,605 shares of the basic materials company’s stock worth $394,178,000 after buying an additional 203,607 shares during the last quarter. CIBC Asset Management Inc grew its position in shares of Teck Resources by 2.8% in the 4th quarter. CIBC Asset Management Inc now owns 6,388,652 shares of the basic materials company’s stock worth $270,918,000 after buying an additional 174,492 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Teck Resources by 7.3% during the second quarter. Principal Financial Group Inc. now owns 6,103,740 shares of the basic materials company’s stock valued at $292,441,000 after buying an additional 416,070 shares during the period. Institutional investors own 78.06% of the company’s stock.

Teck Resources Stock Up 0.7 %

TECK stock opened at $47.10 on Thursday. Teck Resources Limited has a twelve month low of $34.38 and a twelve month high of $55.13. The company has a quick ratio of 0.77, a current ratio of 1.48 and a debt-to-equity ratio of 0.19. The business has a 50 day moving average of $46.90 and a 200 day moving average of $47.55. The firm has a market cap of $24.10 billion, a PE ratio of 20.84 and a beta of 1.01.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.47 by $0.32. The company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $2.67 billion. Teck Resources had a net margin of 9.40% and a return on equity of 6.52%. Teck Resources’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.91 EPS. On average, research analysts forecast that Teck Resources Limited will post 2.02 EPS for the current fiscal year.

Teck Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.625 dividend. This is a positive change from Teck Resources’s previous quarterly dividend of $0.09. This represents a $2.50 dividend on an annualized basis and a yield of 5.31%. The ex-dividend date of this dividend is Friday, September 13th. Teck Resources’s payout ratio is presently 16.37%.

Analyst Ratings Changes

Several research firms recently weighed in on TECK. JPMorgan Chase & Co. cut their price target on shares of Teck Resources from $56.00 to $54.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Benchmark reaffirmed a “buy” rating and set a $55.00 target price on shares of Teck Resources in a research note on Thursday, July 25th. BMO Capital Markets started coverage on shares of Teck Resources in a research note on Monday, July 15th. They issued an “outperform” rating for the company. TD Securities raised Teck Resources to a “strong-buy” rating in a research report on Tuesday, July 16th. Finally, CIBC increased their target price on Teck Resources from $70.00 to $80.00 and gave the stock an “outperformer” rating in a research report on Friday, July 12th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.