Centiva Capital LP Takes $479,000 Position in Teck Resources Ltd $TECK

Centiva Capital LP bought a new stake in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,917 shares of the basic materials company’s stock, valued at approximately $479,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. ASR Vermogensbeheer N.V. boosted its holdings in Teck Resources by 1.6% in the third quarter. ASR Vermogensbeheer N.V. now owns 16,721 shares of the basic materials company’s stock valued at $734,000 after acquiring an additional 270 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Teck Resources by 72.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 351 shares in the last quarter. CWM LLC lifted its position in shares of Teck Resources by 22.7% in the 3rd quarter. CWM LLC now owns 2,078 shares of the basic materials company’s stock worth $91,000 after purchasing an additional 384 shares during the period. GSA Capital Partners LLP lifted its position in shares of Teck Resources by 1.0% in the 3rd quarter. GSA Capital Partners LLP now owns 40,941 shares of the basic materials company’s stock worth $1,797,000 after purchasing an additional 409 shares during the period. Finally, VestGen Advisors LLC boosted its stake in shares of Teck Resources by 7.9% during the 2nd quarter. VestGen Advisors LLC now owns 6,353 shares of the basic materials company’s stock valued at $257,000 after purchasing an additional 467 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Trading Down 4.6%

Shares of NYSE TECK opened at $49.51 on Monday. Teck Resources Ltd has a 1 year low of $28.32 and a 1 year high of $62.41. The stock has a market cap of $23.83 billion, a P/E ratio of 24.51, a price-to-earnings-growth ratio of 3.02 and a beta of 0.77. The firm has a 50-day moving average of $54.81 and a 200 day moving average of $46.61. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.54 and a quick ratio of 1.91.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Thursday, February 19th. The basic materials company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.59 by $0.39. Teck Resources had a net margin of 12.98% and a return on equity of 5.90%. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the previous year, the firm posted $0.45 earnings per share. Teck Resources’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, sell-side analysts expect that Teck Resources Ltd will post 1.53 EPS for the current fiscal year.

Teck Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, March 13th. Teck Resources’s payout ratio is currently 18.32%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on TECK shares. Raymond James Financial cut shares of Teck Resources from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 14th. UBS Group reaffirmed a “buy” rating on shares of Teck Resources in a research report on Tuesday, January 27th. TD Securities reiterated a “hold” rating on shares of Teck Resources in a report on Monday, February 23rd. National Bank Financial lowered Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 5th. Finally, Citigroup upgraded Teck Resources from a “neutral” rating to a “buy” rating in a research note on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, Teck Resources presently has a consensus rating of “Hold” and a consensus price target of $57.00.

About Teck Resources

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.