Susquehanna Fundamental Investments LLC Boosts Stock Position in Teck Resources Limited (NYSE:TECK)

Susquehanna Fundamental Investments LLC grew its holdings in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 1,487.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 168,300 shares of the basic materials company’s stock after buying an additional 157,700 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in Teck Resources were worth $8,062,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Hexagon Capital Partners LLC boosted its holdings in shares of Teck Resources by 143.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock valued at $30,000 after buying an additional 386 shares in the last quarter. Creekmur Asset Management LLC purchased a new stake in Teck Resources in the fourth quarter valued at $35,000. Headlands Technologies LLC acquired a new position in Teck Resources in the second quarter valued at $38,000. Optiver Holding B.V. grew its holdings in shares of Teck Resources by 81.9% during the fourth quarter. Optiver Holding B.V. now owns 973 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 438 shares during the last quarter. Finally, Blue Trust Inc. increased its position in shares of Teck Resources by 583.1% during the second quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 898 shares in the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Teck Resources Trading Down 1.8 %

Shares of Teck Resources stock opened at $52.44 on Friday. The firm has a market cap of $26.79 billion, a price-to-earnings ratio of 23.20 and a beta of 1.01. Teck Resources Limited has a 52-week low of $34.38 and a 52-week high of $55.13. The company’s 50-day simple moving average is $47.16 and its 200-day simple moving average is $48.05. The company has a quick ratio of 0.77, a current ratio of 1.48 and a debt-to-equity ratio of 0.19.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results 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. The company had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Teck Resources had a return on equity of 6.52% and a net margin of 9.40%. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.91 EPS. As a group, equities research analysts anticipate that Teck Resources Limited will post 1.98 earnings per share for the current year.

Teck Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.625 dividend. The ex-dividend date was Friday, September 13th. This represents a $2.50 dividend on an annualized basis and a yield of 4.77%. This is an increase from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s dividend payout ratio (DPR) is 16.37%.

Analysts Set New Price Targets

TECK has been the subject of a number of research analyst reports. CIBC upped their target price on Teck Resources from $70.00 to $80.00 and gave the company an “outperformer” rating in a research report on Friday, July 12th. JPMorgan Chase & Co. lowered their target price on shares of Teck Resources from $56.00 to $54.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. TD Securities raised shares of Teck Resources to a “strong-buy” rating in a report on Tuesday, July 16th. StockNews.com cut shares of Teck Resources from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Morgan Stanley lifted their price objective on shares of Teck Resources from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, June 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

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.