Beaconlight Capital LLC Has $10.06 Million Holdings in Teck Resources Limited (NYSE:TECK)

Beaconlight Capital LLC lifted its stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 55.1% during the third quarter, Holdings Channel.com reports. The firm owned 192,523 shares of the basic materials company’s stock after acquiring an additional 68,357 shares during the period. Teck Resources accounts for about 4.1% of Beaconlight Capital LLC’s portfolio, making the stock its 10th biggest position. Beaconlight Capital LLC’s holdings in Teck Resources were worth $10,057,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Headlands Technologies LLC acquired a new position in Teck Resources during the 2nd quarter valued at about $38,000. Eastern Bank purchased a new position in shares of Teck Resources during the third quarter valued at approximately $39,000. Bruce G. Allen Investments LLC grew its holdings in Teck Resources by 77.4% during the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock worth $46,000 after buying an additional 383 shares in the last quarter. Blue Trust Inc. raised its position in Teck Resources by 583.1% in the 2nd quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock valued at $48,000 after buying an additional 898 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its stake in Teck Resources by 69.7% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 409 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TECK has been the subject of several recent analyst reports. UBS Group lowered shares of Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Citigroup raised shares of Teck Resources to a “hold” rating in a research report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft lowered shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a research note on Friday, October 25th. StockNews.com upgraded Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. decreased their price target on Teck Resources from $57.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Teck Resources presently has an average rating of “Moderate Buy” and an average target price of $65.29.

Teck Resources Stock Performance

Shares of NYSE:TECK traded up $0.68 during mid-day trading on Wednesday, reaching $46.98. The company had a trading volume of 122,575 shares, compared to its average volume of 3,360,356. The company’s 50-day moving average price is $48.89 and its 200-day moving average price is $48.50. Teck Resources Limited has a one year low of $35.60 and a one year high of $55.13. The firm has a market cap of $23.64 billion, a price-to-earnings ratio of 70.14 and a beta of 1.04. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.24. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.09 billion. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The business’s revenue was down 20.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 earnings per share. As a group, equities research analysts anticipate that Teck Resources Limited will post 1.83 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $0.0895 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.76%. Teck Resources’s payout ratio is 56.06%.

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.