Teck Resources Limited (NYSE:TECK) is Leibman Financial Services Inc.’s 6th Largest Position

Leibman Financial Services Inc. lifted its stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 0.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 96,750 shares of the basic materials company’s stock after acquiring an additional 634 shares during the period. Teck Resources accounts for approximately 3.6% of Leibman Financial Services Inc.’s portfolio, making the stock its 6th biggest position. Leibman Financial Services Inc.’s holdings in Teck Resources were worth $5,054,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fulton Bank N.A. lifted its holdings in Teck Resources by 50.9% in the third quarter. Fulton Bank N.A. now owns 7,719 shares of the basic materials company’s stock valued at $403,000 after acquiring an additional 2,604 shares during the last quarter. Park Avenue Securities LLC lifted its stake in shares of Teck Resources by 8.7% in the 3rd quarter. Park Avenue Securities LLC now owns 8,474 shares of the basic materials company’s stock valued at $443,000 after purchasing an additional 680 shares during the last quarter. AMF Tjanstepension AB grew its holdings in shares of Teck Resources by 3.9% during the 3rd quarter. AMF Tjanstepension AB now owns 4,552,507 shares of the basic materials company’s stock worth $238,055,000 after purchasing an additional 169,476 shares during the period. Massmutual Trust Co. FSB ADV increased its position in shares of Teck Resources by 69.7% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 409 shares during the last quarter. Finally, Centaurus Financial Inc. purchased a new stake in Teck Resources in the 2nd quarter valued at about $465,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. BMO Capital Markets assumed coverage on shares of Teck Resources in a report on Monday, July 15th. They issued an “outperform” rating on the stock. Benchmark reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Teck Resources in a research note on Thursday, July 25th. CIBC raised their target price on Teck Resources from $70.00 to $80.00 and gave the company an “outperformer” rating in a report on Friday, July 12th. Eight Capital downgraded shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 11th. Finally, TD Securities upgraded Teck Resources to a “strong-buy” rating in a research note on Tuesday, July 16th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Teck Resources Trading Down 5.0 %

NYSE:TECK opened at $48.59 on Wednesday. The company has a market capitalization of $24.72 billion, a PE ratio of 21.50 and a beta of 1.02. Teck Resources Limited has a 52-week low of $34.38 and a 52-week high of $55.13. The stock’s 50 day moving average price is $47.85 and its 200 day moving average price is $48.40. 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 announced its earnings results on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.32. Teck Resources had a net margin of 9.40% and a return on equity of 6.52%. The business had revenue of $3.87 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same period last year, the firm posted $0.91 earnings per share. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, research analysts anticipate that Teck Resources Limited will post 2 EPS for the current year.

Teck Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a $0.625 dividend. The ex-dividend date of this dividend was Friday, September 13th. This is a positive change from Teck Resources’s previous quarterly dividend of $0.09. This represents a $2.50 dividend on an annualized basis and a yield of 5.15%. Teck Resources’s payout ratio is currently 16.37%.

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.