17,100 Shares in Teck Resources Limited (NYSE:TECK) Purchased by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL purchased a new stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 17,100 shares of the basic materials company’s stock, valued at approximately $783,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Canada Pension Plan Investment Board lifted its holdings in shares of Teck Resources by 27.0% in the first quarter. Canada Pension Plan Investment Board now owns 1,614,436 shares of the basic materials company’s stock valued at $73,966,000 after purchasing an additional 343,626 shares in the last quarter. Anson Funds Management LP lifted its stake in shares of Teck Resources by 126.9% during the first quarter. Anson Funds Management LP now owns 61,049 shares of the basic materials company’s stock valued at $2,793,000 after buying an additional 34,149 shares during the period. Beaconlight Capital LLC purchased a new position in shares of Teck Resources during the first quarter valued at approximately $1,443,000. Shell Asset Management Co. lifted its stake in shares of Teck Resources by 684.7% during the first quarter. Shell Asset Management Co. now owns 80,419 shares of the basic materials company’s stock valued at $3,681,000 after buying an additional 70,170 shares during the period. Finally, Castle Hook Partners LP purchased a new position in shares of Teck Resources during the first quarter valued at approximately $90,980,000. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Wall Street Analysts Forecast Growth

TECK has been the topic of several recent analyst reports. TD Securities raised shares of Teck Resources to a “strong-buy” rating in a research note on Tuesday, July 16th. CIBC upped their price objective on shares of Teck Resources from $70.00 to $80.00 and gave the company an “outperformer” rating in a research note on Friday, July 12th. Eight Capital lowered shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 11th. Morgan Stanley upped their price target on shares of Teck Resources from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, June 21st. Finally, Benchmark reaffirmed a “buy” rating and set a $55.00 price target on shares of Teck Resources in a research report on Thursday. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.50.

Teck Resources Trading Up 3.8 %

Shares of Teck Resources stock traded up $1.75 during trading hours on Friday, hitting $47.45. The company’s stock had a trading volume of 8,553,777 shares, compared to its average volume of 3,163,340. Teck Resources Limited has a 1-year low of $34.38 and a 1-year high of $55.13. The business has a fifty day moving average of $49.07 and a 200 day moving average of $45.37. The company has a market capitalization of $24.24 billion, a PE ratio of 21.00, a P/E/G ratio of 10.93 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.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.32. Teck Resources had a net margin of 9.40% and a return on equity of 6.61%. The company had revenue of $3.87 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same quarter in the prior year, the business earned $0.91 earnings per share. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. As a group, equities analysts forecast that Teck Resources Limited will post 2.03 EPS for the current year.

Teck Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a $0.625 dividend. The ex-dividend date of this dividend is Friday, September 13th. This is an increase from Teck Resources’s previous quarterly dividend of $0.09. This represents a $2.50 annualized dividend and a dividend yield of 5.27%. Teck Resources’s dividend payout ratio is 16.37%.

About Teck Resources

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.