Foresight Global Investors Inc. Purchases 128,079 Shares of Teck Resources Limited (NYSE:TECK)

Foresight Global Investors Inc. grew its holdings in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 138.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 220,379 shares of the basic materials company’s stock after buying an additional 128,079 shares during the period. Teck Resources accounts for about 5.1% of Foresight Global Investors Inc.’s investment portfolio, making the stock its 10th biggest holding. Foresight Global Investors Inc.’s holdings in Teck Resources were worth $10,556,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hexagon Capital Partners LLC increased its stake in Teck Resources by 143.0% during 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 during the period. Creekmur Asset Management LLC acquired a new position in shares of Teck Resources during the fourth quarter valued at approximately $35,000. Headlands Technologies LLC bought a new stake in Teck Resources during the second quarter worth approximately $38,000. Optiver Holding B.V. lifted its position in Teck Resources by 81.9% in 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 period. Finally, Blue Trust Inc. boosted its stake 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 and hedge funds.

Teck Resources Trading Up 1.6 %

Teck Resources stock opened at $47.06 on Tuesday. Teck Resources Limited has a 52 week low of $34.38 and a 52 week high of $55.13. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 1.48. The firm has a market capitalization of $24.08 billion, a price-to-earnings ratio of 20.82 and a beta of 1.01. The company has a 50 day moving average price of $46.98 and a 200 day moving average price of $47.50.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its earnings results on Wednesday, July 24th. The basic materials company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.47 by $0.32. The business had revenue of $3.87 billion during 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%. Teck Resources’s revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.91 earnings per share. Research analysts forecast that Teck Resources Limited will post 2 EPS for the current year.

Teck Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 5.31%. The ex-dividend date of this dividend is Friday, September 13th. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s payout ratio is 16.37%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TECK. Benchmark restated a “buy” rating and issued a $55.00 price objective on shares of Teck Resources in a report on Thursday, July 25th. TD Securities upgraded shares of Teck Resources to a “strong-buy” rating in a research report on Tuesday, July 16th. UBS Group raised shares of Teck Resources from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $76.00 to $78.00 in a research note on Wednesday, September 4th. CIBC increased their target price 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. Finally, Paradigm Capital upgraded shares of Teck Resources to a “moderate buy” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $65.00.

Teck Resources Company 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.