Teck Resources Ltd (NYSE:TECK) Shares Sold by OLD Mutual Customised Solutions Proprietary Ltd.

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OLD Mutual Customised Solutions Proprietary Ltd. decreased its position in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 10.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 36,300 shares of the basic materials company’s stock after selling 4,400 shares during the quarter. OLD Mutual Customised Solutions Proprietary Ltd.’s holdings in Teck Resources were worth $924,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TECK. NumerixS Investment Technologies Inc acquired a new stake in shares of Teck Resources in the 2nd quarter valued at approximately $111,000. Signaturefd LLC acquired a new stake in shares of Teck Resources in the 1st quarter valued at approximately $160,000. Regentatlantic Capital LLC acquired a new stake in shares of Teck Resources in the 2nd quarter valued at approximately $200,000. Seven Eight Capital LP acquired a new stake in shares of Teck Resources in the 1st quarter valued at approximately $223,000. Finally, Bayesian Capital Management LP acquired a new stake in shares of Teck Resources in the 1st quarter valued at approximately $247,000. 54.56% of the stock is currently owned by hedge funds and other institutional investors.

Shares of TECK opened at $23.90 on Tuesday. The company has a market cap of $13.66 billion, a PE ratio of 6.88, a price-to-earnings-growth ratio of 0.66 and a beta of 1.43. Teck Resources Ltd has a twelve month low of $20.06 and a twelve month high of $30.80. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.38 and a quick ratio of 1.51.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Thursday, July 26th. The basic materials company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.28. Teck Resources had a net margin of 22.12% and a return on equity of 13.56%. The company had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $2.97 billion. During the same period last year, the business earned $1.00 EPS. The business’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, sell-side analysts expect that Teck Resources Ltd will post 3.51 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 14th were paid a $0.038 dividend. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $0.15 annualized dividend and a dividend yield of 0.64%. Teck Resources’s dividend payout ratio is presently 4.37%.

A number of analysts recently weighed in on TECK shares. ValuEngine downgraded shares of Teck Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Zacks Investment Research downgraded shares of Teck Resources from a “hold” rating to a “sell” rating in a research report on Thursday, June 28th. Morgan Stanley increased their price target on shares of Teck Resources from $27.00 to $29.00 and gave the company an “equal weight” rating in a research report on Friday, June 29th. Clarkson Capital upgraded shares of Teck Resources from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 11th. Finally, MKM Partners dropped their target price on shares of Teck Resources to $30.00 and set a “buy” rating on the stock in a report on Wednesday, September 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $31.07.

Teck Resources Profile

Teck Resources Limited researches, explores for, develops, and produces natural resources in the Americas, the Asia Pacific, and Europe. It operates through five segments: Steelmaking Coal, Copper, Zinc, Energy, and Corporate. The company's principal products comprise steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.

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Institutional Ownership by Quarter for Teck Resources (NYSE:TECK)

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