Comerica Bank lowered its holdings in Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 3.2% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,440 shares of the basic materials company’s stock after selling 1,000 shares during the period. Comerica Bank’s holdings in Teck Resources were worth $677,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in TECK. Steward Partners Investment Advisory LLC acquired a new position in shares of Teck Resources during the second quarter valued at approximately $32,000. CWM LLC acquired a new stake in shares of Teck Resources during the 2nd quarter valued at $66,000. Signaturefd LLC lifted its stake in shares of Teck Resources by 13.6% in the 2nd quarter. Signaturefd LLC now owns 10,559 shares of the basic materials company’s stock valued at $243,000 after purchasing an additional 1,267 shares during the last quarter. We Are One Seven LLC lifted its stake in shares of Teck Resources by 4.2% in the 2nd quarter. We Are One Seven LLC now owns 11,437 shares of the basic materials company’s stock valued at $263,000 after purchasing an additional 456 shares during the last quarter. Finally, HCR Wealth Advisors acquired a new stake in shares of Teck Resources in the 1st quarter valued at $294,000. Institutional investors own 53.68% of the company’s stock.
Shares of NYSE:TECK traded up $0.14 during mid-day trading on Friday, reaching $19.10. The stock had a trading volume of 239,114 shares, compared to its average volume of 2,131,527. The firm has a market cap of $10.11 billion, a PE ratio of 6.08 and a beta of 1.48. The firm has a 50 day simple moving average of $17.87 and a two-hundred day simple moving average of $21.24. The company has a current ratio of 2.47, a quick ratio of 1.58 and a debt-to-equity ratio of 0.20. Teck Resources Ltd has a twelve month low of $16.18 and a twelve month high of $25.82.
Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings results on Thursday, July 25th. The basic materials company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.04). The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.24 billion. Teck Resources had a net margin of 20.37% and a return on equity of 8.49%. During the same quarter in the prior year, the business earned $1.12 earnings per share. On average, equities analysts anticipate that Teck Resources Ltd will post 2.78 EPS for the current fiscal year.
The firm also recently announced a — dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a dividend of $0.0376 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a yield of 0.9%. Teck Resources’s payout ratio is 4.78%.
TECK has been the topic of several recent analyst reports. B. Riley reiterated a “buy” rating on shares of Teck Resources in a report on Thursday, August 22nd. Macquarie assumed coverage on shares of Teck Resources in a report on Wednesday, July 10th. They issued a “neutral” rating on the stock. Zacks Investment Research lowered shares of Teck Resources from a “buy” rating to a “hold” rating in a report on Saturday, July 13th. TD Securities lowered shares of Teck Resources to a “buy” rating in a report on Monday, July 22nd. Finally, ValuEngine upgraded shares of Teck Resources from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the company’s stock. Teck Resources presently has an average rating of “Buy” and an average price target of $29.33.
Teck Resources Profile
Teck Resources Limited researches, explores for, develops, and produces natural resources in the Asia Pacific, the Americas, and Europe. It operates through five segments: Steelmaking, Coal, Copper, Zinc, Energy, and Corporate. The company's principal products include steelmaking coal; copper concentrates and refined copper cathodes; refined zinc and zinc concentrates; energy products, such as bitumen; and lead concentrates.
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