First Trust Advisors LP Acquires 14,764 Shares of Teck Resources Ltd $TECK

First Trust Advisors LP raised its stake in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 167.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,598 shares of the basic materials company’s stock after acquiring an additional 14,764 shares during the quarter. First Trust Advisors LP’s holdings in Teck Resources were worth $1,221,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in TECK. Welch Group LLC boosted its position in Teck Resources by 3.5% during the fourth quarter. Welch Group LLC now owns 5,899 shares of the basic materials company’s stock valued at $283,000 after purchasing an additional 199 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in Teck Resources by 117.4% in the first quarter. Geneos Wealth Management Inc. now owns 561 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 303 shares in the last quarter. Compound Planning Inc. raised its holdings in Teck Resources by 1.0% in the fourth quarter. Compound Planning Inc. now owns 32,266 shares of the basic materials company’s stock worth $1,545,000 after purchasing an additional 333 shares in the last quarter. 44 Wealth Management LLC lifted its position in shares of Teck Resources by 1.3% during the fourth quarter. 44 Wealth Management LLC now owns 31,488 shares of the basic materials company’s stock valued at $1,508,000 after buying an additional 411 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of Teck Resources by 5.5% during the third quarter. NewEdge Advisors LLC now owns 8,635 shares of the basic materials company’s stock valued at $379,000 after buying an additional 452 shares during the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Teck Resources Trading Up 0.1%

Shares of Teck Resources stock opened at $66.53 on Monday. The stock has a market cap of $32.13 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 1.95 and a beta of 0.92. The firm has a fifty day moving average price of $61.27 and a 200 day moving average price of $58.36. Teck Resources Ltd has a 1 year low of $30.98 and a 1 year high of $71.25. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.12 and a quick ratio of 2.33.

Teck Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.125 per share. The ex-dividend date is Tuesday, September 15th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.8%. Teck Resources’s dividend payout ratio (DPR) is 9.76%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on TECK shares. Scotiabank reaffirmed a “sector perform” rating on shares of Teck Resources in a report on Monday, June 15th. Veritas lowered Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 4th. JPMorgan Chase & Co. raised their price objective on Teck Resources from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 28th. TD Securities reaffirmed a “hold” rating on shares of Teck Resources in a research report on Friday, April 24th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Teck Resources from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Teck Resources presently has an average rating of “Hold” and a consensus price target of $62.25.

Teck Resources Company Profile

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.