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

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

Several other large investors also recently bought and sold shares of TECK. Hexagon Capital Partners LLC increased its stake 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 worth $30,000 after acquiring an additional 386 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Teck Resources in the second quarter valued at about $38,000. Creekmur Asset Management LLC acquired a new stake in Teck Resources during the fourth quarter worth about $35,000. Optiver Holding B.V. raised its stake in 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 period. Finally, Blue Trust Inc. boosted its holdings in Teck Resources by 583.1% in 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 during the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Stock Performance

Shares of TECK stock opened at $52.44 on Friday. Teck Resources Limited has a 52 week low of $34.38 and a 52 week high of $55.13. The firm has a 50 day moving average of $47.16 and a two-hundred day moving average of $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. The stock has a market capitalization of $26.79 billion, a PE ratio of 23.20 and a beta of 1.01.

Teck Resources (NYSE:TECK) (TSE:TECK) last released 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. Teck Resources had a return on equity of 6.52% and a net margin of 9.40%. The firm had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same period in the previous year, the firm posted $0.91 EPS. Teck Resources’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, research analysts predict that Teck Resources Limited will post 1.98 EPS for the current fiscal year.

Teck Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 4.77%. This is a positive change from Teck Resources’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Friday, September 13th. Teck Resources’s dividend payout ratio is presently 16.37%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Paradigm Capital upgraded Teck Resources to a “moderate buy” rating in a research report on Friday, July 26th. Benchmark reissued a “buy” rating and set a $55.00 price objective on shares of Teck Resources in a research report on Thursday, July 25th. JPMorgan Chase & Co. reduced their price objective on shares of Teck Resources from $56.00 to $54.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. StockNews.com lowered shares of Teck Resources from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Morgan Stanley boosted their price target 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 analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average 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.