Tradewinds Capital Management LLC Makes New $114,000 Investment in Teck Resources Limited (NYSE:TECK)

Tradewinds Capital Management LLC purchased a new position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,500 shares of the basic materials company’s stock, valued at approximately $114,000.

A number of other hedge funds have also modified their holdings of TECK. Hexagon Capital Partners LLC boosted its position in shares of Teck Resources by 143.0% during the first quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 386 shares during the last quarter. Creekmur Asset Management LLC purchased a new stake in Teck Resources during the fourth quarter valued at $35,000. Optiver Holding B.V. raised its stake in Teck Resources by 81.9% during the fourth quarter. Optiver Holding B.V. now owns 973 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 438 shares in the last quarter. First Horizon Advisors Inc. raised its stake in Teck Resources by 69.4% during the fourth quarter. First Horizon Advisors Inc. now owns 1,162 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 476 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in Teck Resources by 187.3% during the fourth quarter. Blue Trust Inc. now owns 1,494 shares of the basic materials company’s stock valued at $64,000 after purchasing an additional 974 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on TECK shares. Morgan Stanley increased their target price on shares of Teck Resources from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, June 21st. JPMorgan Chase & Co. increased their target price on shares of Teck Resources from $44.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Finally, Benchmark increased their target price on shares of Teck Resources from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $58.57.

Teck Resources Stock Performance

Shares of Teck Resources stock traded up $1.57 during midday trading on Wednesday, hitting $50.11. The company had a trading volume of 1,584,616 shares, compared to its average volume of 3,597,560. The stock has a market cap of $25.60 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 10.35 and a beta of 1.05. The company has a quick ratio of 0.86, a current ratio of 1.49 and a debt-to-equity ratio of 0.20. The company has a fifty day simple moving average of $49.82 and a 200 day simple moving average of $44.59. Teck Resources Limited has a 12-month low of $34.38 and a 12-month high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.31). Teck Resources had a return on equity of 7.52% and a net margin of 10.59%. The business had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $2.99 billion. As a group, analysts predict that Teck Resources Limited will post 2.24 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 17th were issued a dividend of $0.0911 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.73%. The ex-dividend date was Monday, June 17th. Teck Resources’s dividend payout ratio (DPR) is 15.93%.

Teck Resources Company 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.