33,500 Shares in Teck Resources Limited (NYSE:TECK) Purchased by Itau Unibanco Holding S.A.

Itau Unibanco Holding S.A. acquired a new stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 33,500 shares of the basic materials company’s stock, valued at approximately $1,605,000.

Other institutional investors have also bought and sold shares of the company. Hexagon Capital Partners LLC increased its holdings in shares of Teck Resources by 143.0% in the first quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 386 shares during the last quarter. Creekmur Asset Management LLC purchased a new stake in Teck Resources in the 4th quarter valued at $35,000. Headlands Technologies LLC purchased a new stake in Teck Resources in the 2nd quarter valued at $38,000. Optiver Holding B.V. increased its stake in shares of Teck Resources by 81.9% in the 4th quarter. Optiver Holding B.V. now owns 973 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 438 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Teck Resources by 583.1% during the 2nd quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock worth $48,000 after acquiring an additional 898 shares during the period. 78.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TECK. BMO Capital Markets initiated coverage on shares of Teck Resources in a report on Monday, July 15th. They issued an “outperform” rating for the company. TD Securities upgraded shares of Teck Resources to a “strong-buy” rating in a report on Tuesday, July 16th. StockNews.com upgraded Teck Resources from a “sell” rating to a “hold” rating in a report on Tuesday, September 17th. UBS Group upgraded Teck Resources from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $76.00 to $78.00 in a research report on Wednesday, September 4th. Finally, Paradigm Capital upgraded Teck Resources to a “moderate buy” rating in a research report on Friday, July 26th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $65.00.

Teck Resources Stock Down 0.1 %

NYSE:TECK opened at $48.91 on Friday. Teck Resources Limited has a 52 week low of $34.38 and a 52 week high of $55.13. The company has a quick ratio of 0.77, a current ratio of 1.48 and a debt-to-equity ratio of 0.19. The stock’s fifty day moving average is $46.85 and its two-hundred day moving average is $47.69. The stock has a market capitalization of $25.02 billion, a price-to-earnings ratio of 21.64 and a beta of 1.01.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Wednesday, July 24th. The basic materials company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.32. The company 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 for the quarter was up 10.1% on a year-over-year basis. During the same period last year, the business posted $0.91 EPS. Research analysts anticipate that Teck Resources Limited will post 2.02 EPS for the current year.

Teck Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.625 dividend. The ex-dividend date is Friday, September 13th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.11%. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s payout ratio is 16.37%.

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.