Louisbourg Investments Inc. Purchases 16,388 Shares of Teck Resources Ltd $TECK

Louisbourg Investments Inc. raised its holdings in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 10.3% during the first quarter, Holdings Channel.com reports. The fund owned 175,850 shares of the basic materials company’s stock after buying an additional 16,388 shares during the period. Teck Resources accounts for approximately 1.6% of Louisbourg Investments Inc.’s portfolio, making the stock its 12th largest position. Louisbourg Investments Inc.’s holdings in Teck Resources were worth $9,096,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in TECK. Regal Partners Ltd raised its stake in Teck Resources by 14.8% during the 3rd quarter. Regal Partners Ltd now owns 3,481,836 shares of the basic materials company’s stock valued at $152,818,000 after purchasing an additional 448,081 shares during the period. Union Bancaire Privee UBP SA grew its holdings in Teck Resources by 172.8% during the 4th quarter. Union Bancaire Privee UBP SA now owns 23,560 shares of the basic materials company’s stock valued at $1,128,000 after buying an additional 14,924 shares in the last quarter. 44 Wealth Management LLC grew its holdings in Teck Resources by 250.8% during the 3rd quarter. 44 Wealth Management LLC now owns 31,077 shares of the basic materials company’s stock valued at $1,364,000 after buying an additional 22,219 shares in the last quarter. Temasek Holdings Private Ltd raised its position in shares of Teck Resources by 1.1% during the fourth quarter. Temasek Holdings Private Ltd now owns 5,307,384 shares of the basic materials company’s stock valued at $254,171,000 after buying an additional 57,380 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Teck Resources by 2.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,916,856 shares of the basic materials company’s stock valued at $84,068,000 after buying an additional 37,419 shares during the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on TECK shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Teck Resources in a research report on Friday, May 15th. Veritas downgraded shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 4th. JPMorgan Chase & Co. lifted their price target on shares of Teck Resources from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Scotiabank reiterated a “sector perform” rating on shares of Teck Resources in a research note on Monday, June 15th. Finally, Wall Street Zen raised shares of Teck Resources to a “buy” rating in a report on Saturday, May 16th. Five research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $59.17.

Teck Resources Price Performance

TECK opened at $58.21 on Friday. The firm has a market capitalization of $28.06 billion, a PE ratio of 21.32, a price-to-earnings-growth ratio of 3.48 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.83 and a quick ratio of 2.16. The business’s 50-day moving average is $62.41 and its two-hundred day moving average is $55.70. Teck Resources Ltd has a 1 year low of $30.98 and a 1 year high of $71.25.

Teck Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a $0.125 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.9%. Teck Resources’s payout ratio is presently 13.19%.

Teck Resources 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.