Quantinno Capital Management LP Raises Stake in Teck Resources Limited (NYSE:TECK)

Quantinno Capital Management LP lifted its stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 47.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,634 shares of the basic materials company’s stock after purchasing an additional 5,011 shares during the period. Quantinno Capital Management LP’s holdings in Teck Resources were worth $817,000 at the end of the most recent quarter.

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

Teck Resources Stock Performance

Shares of TECK stock opened at $44.09 on Friday. Teck Resources Limited has a 12-month low of $36.50 and a 12-month high of $55.13. The business’s fifty day simple moving average is $47.57 and its 200-day simple moving average is $47.97. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The company has a market cap of $22.58 billion, a PE ratio of 66.80 and a beta of 1.03.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced 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 company 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 firm’s quarterly revenue was down 20.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.57 EPS. Analysts expect that Teck Resources Limited will post 1.81 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $0.0895 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Friday, December 13th. Teck Resources’s dividend payout ratio (DPR) is presently 56.06%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. StockNews.com raised Teck Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. UBS Group downgraded shares of Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. Deutsche Bank Aktiengesellschaft cut shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a research report on Friday, October 25th. Citigroup raised shares of Teck Resources to a “hold” rating in a report on Wednesday, October 2nd. Finally, Scotiabank upped their target price on Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a report on Tuesday, October 8th. Six analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Teck Resources presently has a consensus 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.