Headlands Technologies LLC Has $1.10 Million Holdings in Teck Resources Ltd $TECK

Headlands Technologies LLC decreased its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 38.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,467 shares of the basic materials company’s stock after selling 11,759 shares during the quarter. Headlands Technologies LLC’s holdings in Teck Resources were worth $1,098,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Brown Brothers Harriman & Co. acquired a new position in Teck Resources during the 4th quarter worth about $25,000. Blue Trust Inc. raised its position in shares of Teck Resources by 411.8% during the first quarter. Blue Trust Inc. now owns 563 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 453 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Teck Resources by 117.4% in the first quarter. Geneos Wealth Management Inc. now owns 561 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 303 shares during the period. Oslo Pensjonsforsikring AS acquired a new position in shares of Teck Resources in the first quarter worth approximately $83,000. Finally, Versant Capital Management Inc boosted its holdings in Teck Resources by 86.5% in the second quarter. Versant Capital Management Inc now owns 1,587 shares of the basic materials company’s stock valued at $94,000 after acquiring an additional 736 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Teck Resources Price Performance

Shares of TECK opened at $68.12 on Tuesday. Teck Resources Ltd has a 52-week low of $31.68 and a 52-week high of $71.93. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.33 and a current ratio of 3.12. The business’s 50 day moving average price is $62.06 and its two-hundred day moving average price is $59.74. The firm has a market cap of $32.90 billion, a PE ratio of 18.46, a price-to-earnings-growth ratio of 2.50 and a beta of 0.92.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.40. The firm had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Teck Resources had a return on equity of 10.42% and a net margin of 17.85%.The company’s revenue for the quarter was up 78.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.38 EPS. On average, equities analysts anticipate that Teck Resources Ltd will post 3.48 EPS for the current year.

Teck Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.50 annualized dividend and a yield of 0.7%. Teck Resources’s dividend payout ratio is currently 9.76%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Teck Resources from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Scotiabank reaffirmed a “sector perform” rating on shares of Teck Resources in a research note on Monday, June 15th. Veritas cut shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 4th. Wall Street Zen cut shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 26th. Finally, Raymond James Financial raised shares of Teck Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday, July 23rd. Six investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $62.25.

Teck Resources Company Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.