U.S. Capital Wealth Advisors LLC Acquires New Shares in Teck Resources Limited (NYSE:TECK)

U.S. Capital Wealth Advisors LLC acquired a new position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 9,737 shares of the basic materials company’s stock, valued at approximately $466,000.

Other large investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its holdings in shares of Teck Resources by 5,354.8% during the fourth quarter. International Assets Investment Management LLC now owns 572,759 shares of the basic materials company’s stock valued at $24,211,000 after buying an additional 562,259 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in Teck Resources by 4.6% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 120,841 shares of the basic materials company’s stock worth $5,191,000 after acquiring an additional 5,304 shares during the period. Cerity Partners LLC bought a new position in shares of Teck Resources in the fourth quarter worth $297,000. Clarius Group LLC increased its holdings in shares of Teck Resources by 16.0% during the fourth quarter. Clarius Group LLC now owns 10,286 shares of the basic materials company’s stock valued at $435,000 after purchasing an additional 1,416 shares during the period. Finally, Ingalls & Snyder LLC raised its stake in shares of Teck Resources by 0.5% during the fourth quarter. Ingalls & Snyder LLC now owns 609,985 shares of the basic materials company’s stock valued at $25,784,000 after purchasing an additional 3,075 shares in the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TECK has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of Teck Resources from $56.00 to $54.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Morgan Stanley lifted their price target on Teck Resources from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, June 21st. BMO Capital Markets began coverage on Teck Resources in a report on Monday, July 15th. They issued an “outperform” rating for the company. Paradigm Capital raised Teck Resources to a “moderate buy” rating in a report on Friday, July 26th. Finally, CIBC boosted their price target on shares of Teck Resources from $70.00 to $80.00 and gave the stock an “outperformer” rating in a research report on Friday, July 12th. Three 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 company’s stock. According to data from MarketBeat.com, Teck Resources currently has an average rating of “Moderate Buy” and an average price target of $62.40.

Teck Resources Stock Up 1.1 %

TECK stock traded up $0.50 during mid-day trading on Friday, hitting $45.41. The stock had a trading volume of 2,115,440 shares, compared to its average volume of 3,624,498. The stock has a market capitalization of $23.25 billion, a price-to-earnings ratio of 20.18, a PEG ratio of 11.10 and a beta of 1.05. The company has a fifty day moving average of $48.00 and a 200 day moving average of $45.87. The company has a current ratio of 1.48, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19. 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 posted its earnings results on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share 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 analyst estimates of $2.67 billion. Teck Resources had a return on equity of 6.52% and a net margin of 9.40%. The business’s revenue was up 10.1% compared to the same quarter last year. During the same period last year, the company earned $0.91 earnings per share. On average, equities analysts expect that Teck Resources Limited will post 1.97 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. The ex-dividend date is Friday, September 13th. 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 5.51%. Teck Resources’s dividend payout ratio (DPR) is presently 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.