Teck Resources Ltd $TECK Shares Acquired by Triasima Portfolio Management inc.

Triasima Portfolio Management inc. grew its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 43.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 39,350 shares of the basic materials company’s stock after purchasing an additional 11,900 shares during the quarter. Triasima Portfolio Management inc.’s holdings in Teck Resources were worth $2,597,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of TECK. Geneos Wealth Management Inc. grew its stake in shares of Teck Resources by 117.4% during the first quarter. Geneos Wealth Management Inc. now owns 561 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 303 shares during the period. Welch Group LLC lifted its stake in Teck Resources by 6.2% in the first quarter. Welch Group LLC now owns 6,266 shares of the basic materials company’s stock valued at $324,000 after buying an additional 367 shares during the period. Blue Trust Inc. lifted its stake in Teck Resources by 411.8% in the first quarter. Blue Trust Inc. now owns 563 shares of the basic materials company’s stock valued at $29,000 after buying an additional 453 shares during the period. Elevation Point Wealth Partners LLC lifted its stake in Teck Resources by 8.9% in the first quarter. Elevation Point Wealth Partners LLC now owns 5,720 shares of the basic materials company’s stock valued at $296,000 after buying an additional 466 shares during the period. Finally, AMG National Trust Bank boosted its holdings in Teck Resources by 13.1% during the first quarter. AMG National Trust Bank now owns 5,531 shares of the basic materials company’s stock worth $286,000 after buying an additional 640 shares during the last quarter. Institutional investors own 78.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TECK. JPMorgan Chase & Co. upped their price target on Teck Resources from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, July 28th. 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. Wall Street Zen lowered shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 26th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Teck Resources from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Finally, Weiss Ratings raised shares of Teck Resources from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $62.25.

Teck Resources Price Performance

Shares of NYSE TECK opened at $65.80 on Friday. Teck Resources Ltd has a twelve month low of $38.00 and a twelve month high of $72.56. The business’s 50 day moving average price is $66.97 and its two-hundred day moving average price is $62.67. The company has a quick ratio of 2.33, a current ratio of 3.12 and a debt-to-equity ratio of 0.12. The company has a market cap of $31.79 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 2.08 and a beta of 1.01.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.40. The firm had revenue of $2.54 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm posted $0.38 EPS. On average, analysts predict that Teck Resources Ltd will post 4.28 EPS for the current year.

Teck Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th were issued a C$0.12 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.50 dividend on an annualized basis and a yield of 0.8%. Teck Resources’s payout ratio is currently 9.76%.

Teck Resources Profile

Teck Resources Limited is a Canadian mining and metals company headquartered in Vancouver, British Columbia. The company focuses primarily on the exploration, development and production of copper and zinc, which are used in construction, infrastructure, manufacturing and the global energy transition.

Teck’s copper operations include the Highland Valley Copper mine in British Columbia, the Carmen de Andacollo mine in Chile and the Quebrada Blanca operation in northern Chile. Its zinc business includes the Red Dog mine in Alaska, one of the world’s significant zinc-producing operations.