20,250 Shares in Teck Resources Limited (NYSE:TECK) Bought by Quattro Financial Advisors LLC

Quattro Financial Advisors LLC bought a new position in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 20,250 shares of the basic materials company's stock, valued at approximately $927,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC boosted its stake in shares of Teck Resources by 143.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company's stock worth $30,000 after buying an additional 386 shares during the last quarter. Creekmur Asset Management LLC acquired a new stake in Teck Resources in the 4th quarter valued at about $35,000. Optiver Holding B.V. lifted its stake in Teck Resources by 81.9% in the 4th quarter. Optiver Holding B.V. now owns 973 shares of the basic materials company's stock valued at $41,000 after purchasing an additional 438 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in Teck Resources by 69.4% in the 4th 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. Finally, Blue Trust Inc. lifted its stake in Teck Resources by 187.3% in the 4th 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 during the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TECK. Morgan Stanley raised their target price 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. JPMorgan Chase & Co. raised their target price on shares of Teck Resources from $44.00 to $50.00 and gave the company an "overweight" rating in a research note on Wednesday, April 17th. Finally, Benchmark raised 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. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, Teck Resources currently has a consensus rating of "Moderate Buy" and a consensus price target of $58.57.

Teck Resources Stock Performance

Shares of TECK traded up $0.38 during mid-day trading on Tuesday, hitting $48.54. 1,552,794 shares of the company's stock were exchanged, compared to its average volume of 3,613,536. Teck Resources Limited has a 52 week low of $34.38 and a 52 week high of $55.13. The stock's 50-day simple moving average is $49.76 and its 200-day simple moving average is $44.54. The firm has a market cap of $24.79 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 company has a quick ratio of 0.86, a current ratio of 1.49 and a debt-to-equity ratio of 0.20.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its earnings results on Thursday, April 25th. The basic materials company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.31). Teck Resources had a return on equity of 7.52% and a net margin of 10.59%. The business had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.99 billion. On average, equities research analysts expect that Teck Resources Limited will post 2.24 EPS for the current year.

Teck Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders 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 annualized dividend and a dividend yield of 0.75%. Teck Resources's dividend payout ratio is presently 15.93%.

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.

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