Encompass Capital Advisors LLC bought a new position in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 550,000 shares of the basic materials company’s stock, valued at approximately $14,394,000. Teck Resources accounts for 2.0% of Encompass Capital Advisors LLC’s holdings, making the stock its 18th largest position. Encompass Capital Advisors LLC owned 0.10% of Teck Resources as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently bought and sold shares of TECK. Bartlett & Co. LLC purchased a new stake in Teck Resources during the fourth quarter worth $118,000. C M Bidwell & Associates Ltd. purchased a new stake in Teck Resources during the fourth quarter worth $199,000. Private Advisor Group LLC purchased a new stake in Teck Resources during the third quarter worth $200,000. Cigna Investments Inc. New purchased a new stake in Teck Resources during the fourth quarter worth $204,000. Finally, Greenleaf Trust purchased a new stake in Teck Resources during the fourth quarter worth $211,000. Institutional investors own 53.04% of the company’s stock.
A number of analysts have weighed in on the company. Clarkson Capital lowered Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, January 15th. Bank of America lowered Teck Resources to a “hold” rating in a report on Tuesday, February 20th. They noted that the move was a valuation call. Macquarie lowered Teck Resources from an “outperform” rating to a “neutral” rating in a report on Tuesday, February 20th. They noted that the move was a valuation call. ValuEngine upgraded Teck Resources from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 13th. Finally, Zacks Investment Research lowered Teck Resources from a “buy” rating to a “hold” rating in a report on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $30.06.
Shares of Teck Resources Ltd (TECK) opened at $26.44 on Friday. Teck Resources Ltd has a twelve month low of $14.56 and a twelve month high of $30.80. The company has a current ratio of 1.81, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $14,850.00, a price-to-earnings ratio of 7.80, a PEG ratio of 0.73 and a beta of 1.37.
Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Wednesday, February 14th. The basic materials company reported $0.95 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.06). Teck Resources had a net margin of 20.83% and a return on equity of 13.69%. The business had revenue of $3.21 billion for the quarter, compared to analysts’ expectations of $3.28 billion. During the same quarter in the prior year, the company posted $1.61 EPS. The business’s revenue for the quarter was down 9.8% on a year-over-year basis. sell-side analysts expect that Teck Resources Ltd will post 3.52 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 15th will be paid a $0.04 dividend. This is a positive change from Teck Resources’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $0.16 dividend on an annualized basis and a yield of 0.61%. Teck Resources’s dividend payout ratio (DPR) is 4.72%.
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Teck Resources Company Profile
Teck Resources Ltd is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company’s activities are organized into business units that are focused on steelmaking coal, copper, zinc and energy. It operates in five segments: steelmaking coal, copper, zinc, energy and corporate.
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