Teck Resources Limited (NYSE:TECK) Shares Bought by Arvin Capital Management LP

Arvin Capital Management LP increased its stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 0.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 247,747 shares of the basic materials company’s stock after purchasing an additional 2,237 shares during the quarter. Teck Resources comprises about 4.2% of Arvin Capital Management LP’s portfolio, making the stock its 10th biggest holding. Arvin Capital Management LP’s holdings in Teck Resources were worth $12,942,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. AMF Tjanstepension AB grew its stake in shares of Teck Resources by 846.6% in the 2nd quarter. AMF Tjanstepension AB now owns 4,383,031 shares of the basic materials company’s stock worth $210,034,000 after purchasing an additional 3,919,984 shares during the last quarter. TD Asset Management Inc lifted its position in shares of Teck Resources by 49.0% in the 2nd quarter. TD Asset Management Inc now owns 4,950,816 shares of the basic materials company’s stock valued at $237,202,000 after acquiring an additional 1,629,149 shares in the last quarter. FMR LLC grew its position in Teck Resources by 72.8% during the 3rd quarter. FMR LLC now owns 3,634,430 shares of the basic materials company’s stock worth $189,848,000 after purchasing an additional 1,531,563 shares in the last quarter. Principal Financial Group Inc. raised its position in Teck Resources by 21.7% during the third quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company’s stock valued at $388,507,000 after buying an additional 1,326,241 shares during the period. Finally, National Bank of Canada FI boosted its position in Teck Resources by 48.4% during the 2nd quarter. National Bank of Canada FI now owns 3,934,663 shares of the basic materials company’s stock worth $188,111,000 after acquiring an additional 1,283,876 shares during the period. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Stock Up 1.0 %

TECK stock opened at $46.68 on Monday. The business’s 50-day simple moving average is $48.77 and its 200 day simple moving average is $48.38. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The company has a market cap of $23.91 billion, a PE ratio of 70.73 and a beta of 1.04. Teck Resources Limited has a twelve month low of $36.50 and a twelve month high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.24. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. The firm had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter last year, the company earned $0.57 earnings per share. The company’s revenue for the quarter was down 20.6% compared to the same quarter last year. On average, research analysts anticipate that Teck Resources Limited will post 1.82 earnings per share for the current year.

Teck Resources Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a dividend of $0.0895 per share. This represents a $0.36 annualized dividend and a yield of 0.77%. The ex-dividend date is Friday, December 13th. Teck Resources’s dividend payout ratio is currently 56.06%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TECK. StockNews.com raised shares of Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. dropped their price target on shares of Teck Resources from $57.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. UBS Group cut shares of Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Scotiabank boosted their price target on Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, October 8th. Finally, Citigroup raised Teck Resources to a “hold” rating in a report on Wednesday, October 2nd. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Teck Resources currently has an average rating of “Moderate Buy” and a consensus price target of $65.29.

Teck Resources Profile

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.