Mirabella Financial Services LLP Has $1.71 Million Stock Holdings in Teck Resources Ltd $TECK

Mirabella Financial Services LLP raised its stake in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 52.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,037 shares of the basic materials company’s stock after purchasing an additional 13,437 shares during the quarter. Mirabella Financial Services LLP’s holdings in Teck Resources were worth $1,713,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Teck Resources in the 2nd quarter valued at approximately $437,657,000. 1832 Asset Management L.P. increased its holdings in Teck Resources by 1,555.9% during the second quarter. 1832 Asset Management L.P. now owns 5,738,457 shares of the basic materials company’s stock worth $231,719,000 after buying an additional 5,391,907 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Teck Resources by 36.1% during the third quarter. Principal Financial Group Inc. now owns 16,879,229 shares of the basic materials company’s stock worth $740,604,000 after buying an additional 4,474,637 shares during the last quarter. Wellington Management Group LLP raised its position in Teck Resources by 264.5% during the third quarter. Wellington Management Group LLP now owns 5,781,060 shares of the basic materials company’s stock worth $253,695,000 after acquiring an additional 4,194,868 shares in the last quarter. Finally, Pentwater Capital Management LP raised its position in Teck Resources by 7,150.0% during the third quarter. Pentwater Capital Management LP now owns 2,900,000 shares of the basic materials company’s stock worth $127,281,000 after acquiring an additional 2,860,000 shares in the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Trading Down 3.1%

TECK stock opened at $47.37 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.54 and a quick ratio of 1.91. The company has a fifty day moving average price of $54.73 and a two-hundred day moving average price of $46.85. Teck Resources Ltd has a one year low of $28.32 and a one year high of $62.41. The stock has a market cap of $22.80 billion, a price-to-earnings ratio of 23.45, a price-to-earnings-growth ratio of 2.98 and a beta of 0.77.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Thursday, February 19th. The basic materials company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.59 by $0.39. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.28 billion. Teck Resources had a net margin of 12.98% and a return on equity of 5.90%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.45 earnings per share. Equities analysts anticipate that Teck Resources Ltd will post 1.53 EPS for the current year.

Teck Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be paid a $0.125 dividend. The ex-dividend date is Friday, March 13th. This represents a $0.50 dividend on an annualized basis and a yield of 1.1%. Teck Resources’s dividend payout ratio is 18.32%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Citigroup raised shares of Teck Resources from a “neutral” rating to a “buy” rating in a research report on Monday, February 2nd. JPMorgan Chase & Co. upped their target price on shares of Teck Resources from $43.00 to $51.00 and gave the company a “neutral” rating in a report on Friday, December 5th. UBS Group reiterated a “buy” rating on shares of Teck Resources in a research note on Tuesday, January 27th. National Bank Financial cut Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, December 5th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $46.00 price target on shares of Teck Resources in a research report on Wednesday, November 26th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $57.00.

About Teck Resources

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.