Arvin Capital Management LP Acquires 2,237 Shares of Teck Resources Limited (NYSE:TECK)

Arvin Capital Management LP lifted its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 0.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 247,747 shares of the basic materials company’s stock after buying an additional 2,237 shares during the period. Teck Resources accounts for approximately 4.2% of Arvin Capital Management LP’s portfolio, making the stock its 10th largest holding. Arvin Capital Management LP’s holdings in Teck Resources were worth $12,942,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Daymark Wealth Partners LLC raised its stake in Teck Resources by 2.8% during the third quarter. Daymark Wealth Partners LLC now owns 8,774 shares of the basic materials company’s stock worth $458,000 after purchasing an additional 242 shares during the period. Cigna Investments Inc. New raised its stake in Teck Resources by 3.8% during the second quarter. Cigna Investments Inc. New now owns 8,762 shares of the basic materials company’s stock worth $420,000 after purchasing an additional 317 shares during the period. Candriam S.C.A. raised its stake in Teck Resources by 4.0% during the second quarter. Candriam S.C.A. now owns 8,897 shares of the basic materials company’s stock worth $426,000 after purchasing an additional 343 shares during the period. Evergreen Capital Management LLC raised its stake in Teck Resources by 7.8% during the second quarter. Evergreen Capital Management LLC now owns 5,064 shares of the basic materials company’s stock worth $243,000 after purchasing an additional 365 shares during the period. Finally, Bruce G. Allen Investments LLC raised its stake in Teck Resources by 77.4% during the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 383 shares during the period. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Analysts Set New Price Targets

TECK has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their price target on shares of Teck Resources from $57.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft downgraded shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 target price on the stock. in a research note on Friday, October 25th. StockNews.com raised shares of Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. UBS Group downgraded shares of Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Finally, Scotiabank raised their target price on shares of Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research note on Tuesday, October 8th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Teck Resources presently has an average rating of “Moderate Buy” and a consensus target price of $65.29.

Teck Resources Price Performance

Shares of TECK stock opened at $46.68 on Monday. The firm has a market cap of $23.91 billion, a P/E ratio of 70.73 and a beta of 1.04. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. Teck Resources Limited has a 1-year low of $36.50 and a 1-year high of $55.13. The firm has a fifty day moving average of $48.77 and a two-hundred day moving average of $48.38.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.24. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.09 billion. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. The company’s revenue for the quarter was down 20.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.57 EPS. As a group, research analysts anticipate that Teck Resources Limited will post 1.82 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a $0.0895 dividend. This represents a $0.36 annualized dividend and a yield of 0.77%. The ex-dividend date is Friday, December 13th. Teck Resources’s dividend payout ratio is presently 56.06%.

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.