Teck Resources Limited (NYSE:TECK) Shares Acquired by Hexagon Capital Partners LLC

Hexagon Capital Partners LLC increased its stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 143.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 656 shares of the basic materials company’s stock after buying an additional 386 shares during the period. Hexagon Capital Partners LLC’s holdings in Teck Resources were worth $30,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TECK. Creekmur Asset Management LLC acquired a new position in shares of Teck Resources in the 4th quarter worth approximately $35,000. Optiver Holding B.V. boosted its holdings 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. First Horizon Advisors Inc. increased its stake in Teck Resources by 69.4% during the fourth quarter. First Horizon Advisors Inc. now owns 1,162 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 476 shares during the last quarter. Blue Trust Inc. grew its position in Teck Resources by 187.3% during the fourth quarter. Blue Trust Inc. now owns 1,494 shares of the basic materials company’s stock valued at $64,000 after purchasing an additional 974 shares in the last quarter. Finally, Gold Investment Management Ltd. purchased a new stake in shares of Teck Resources during the fourth quarter worth $110,000. Institutional investors own 78.06% of the company’s stock.

Teck Resources Stock Performance

Shares of NYSE:TECK opened at $48.15 on Tuesday. The stock has a market capitalization of $24.60 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 10.35 and a beta of 1.05. The business’s fifty day moving average price is $49.76 and its two-hundred day moving average price is $44.54. Teck Resources Limited has a fifty-two week low of $34.38 and a fifty-two week high of $55.13. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.49 and a quick ratio of 0.86.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Thursday, April 25th. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.31). The firm had revenue of $2.96 billion for the quarter, compared to analyst estimates of $2.99 billion. Teck Resources had a return on equity of 7.52% and a net margin of 10.59%. As a group, analysts predict that Teck Resources Limited will post 2.24 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were issued a dividend of $0.0911 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.76%. Teck Resources’s payout ratio is 15.93%.

Analysts Set New Price Targets

TECK has been the topic of several recent research reports. Morgan Stanley raised their target price on Teck Resources from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, June 21st. Benchmark increased their target price on shares of Teck Resources from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, JPMorgan Chase & Co. lifted their target price on Teck Resources from $44.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $58.57.

Teck Resources 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.