Albar Capital Ltd Makes New $1.89 Million Investment in Teck Resources Limited (NYSE:TECK)

Albar Capital Ltd bought a new stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 39,424 shares of the basic materials company’s stock, valued at approximately $1,888,000.

Other hedge funds have also recently modified their holdings of the company. Hexagon Capital Partners LLC lifted its position in shares of Teck Resources by 143.0% during the first quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 386 shares during the last quarter. Creekmur Asset Management LLC bought a new stake in Teck Resources during the 4th quarter valued at about $35,000. Headlands Technologies LLC bought a new stake in Teck Resources during the 2nd quarter valued at about $38,000. Optiver Holding B.V. boosted its position 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 buying an additional 438 shares during the period. Finally, Blue Trust Inc. grew its stake in Teck Resources by 583.1% in the 2nd quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock worth $48,000 after acquiring an additional 898 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on TECK. CIBC raised their price objective on Teck Resources from $70.00 to $80.00 and gave the stock an “outperformer” rating in a report on Friday, July 12th. Benchmark reissued a “buy” rating and issued a $55.00 price target on shares of Teck Resources in a research report on Thursday, July 25th. UBS Group upgraded shares of Teck Resources from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $76.00 to $78.00 in a report on Wednesday, September 4th. Eight Capital lowered shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 11th. Finally, Paradigm Capital raised 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 issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $65.00.

Teck Resources Stock Up 3.9 %

Teck Resources stock opened at $51.01 on Wednesday. The company has a quick ratio of 0.77, a current ratio of 1.48 and a debt-to-equity ratio of 0.19. Teck Resources Limited has a 52 week low of $34.38 and a 52 week high of $55.13. The business’s 50-day moving average price is $46.86 and its 200 day moving average price is $47.87. The firm has a market cap of $26.10 billion, a price-to-earnings ratio of 22.57 and a beta of 1.01.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.32. Teck Resources had a net margin of 9.40% and a return on equity of 6.52%. The company had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter in the previous year, the company earned $0.91 earnings per share. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Teck Resources Limited will post 1.98 earnings per share for the current year.

Teck Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.50 dividend on an annualized basis and a yield of 4.90%. This is an increase from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s dividend payout ratio is currently 16.37%.

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.