Fiera Capital Corp Takes Position in Teck Resources Limited (NYSE:TECK)

Fiera Capital Corp bought a new position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,156 shares of the basic materials company’s stock, valued at approximately $218,000.

Other institutional investors have also modified their holdings of the company. Wetherby Asset Management Inc. increased its holdings in shares of Teck Resources by 0.7% in the 1st quarter. Wetherby Asset Management Inc. now owns 39,655 shares of the basic materials company’s stock valued at $1,447,000 after acquiring an additional 270 shares during the last quarter. Private Trust Co. NA raised its holdings in shares of Teck Resources by 29.9% during the second quarter. Private Trust Co. NA now owns 1,215 shares of the basic materials company’s stock worth $51,000 after purchasing an additional 280 shares during the period. Optimum Investment Advisors lifted its position in shares of Teck Resources by 60.0% in the 2nd quarter. Optimum Investment Advisors now owns 800 shares of the basic materials company’s stock worth $34,000 after buying an additional 300 shares during the last quarter. Synergy Asset Management LLC increased its stake in shares of Teck Resources by 4.3% in the second quarter. Synergy Asset Management LLC now owns 7,562 shares of the basic materials company’s stock valued at $318,000 after purchasing an additional 309 shares during the period. Finally, Intercontinental Wealth Advisors LLC raised its holdings in shares of Teck Resources by 1.3% during the first quarter. Intercontinental Wealth Advisors LLC now owns 23,774 shares of the basic materials company’s stock valued at $868,000 after buying an additional 312 shares during the last quarter. Institutional investors and hedge funds own 59.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. TheStreet lowered Teck Resources from a “b-” rating to a “c+” rating in a report on Tuesday, October 24th. StockNews.com began coverage on Teck Resources in a research note on Friday. They issued a “hold” rating for the company. JPMorgan Chase & Co. started coverage on shares of Teck Resources in a report on Tuesday, October 17th. They issued an “overweight” rating and a $52.00 price objective for the company. Scotiabank cut shares of Teck Resources from a “sector outperform” rating to a “sector perform” rating in a research note on Tuesday, October 17th. Finally, Morgan Stanley dropped their price target on shares of Teck Resources from $55.00 to $47.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 25th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Teck Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.91.

Teck Resources Trading Down 0.9 %

Shares of TECK opened at $35.30 on Friday. The business’s 50-day moving average price is $39.15 and its 200 day moving average price is $40.79. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $18.08 billion, a P/E ratio of 11.24, a P/E/G ratio of 4.49 and a beta of 1.07. Teck Resources Limited has a 1-year low of $31.42 and a 1-year high of $49.34.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Tuesday, October 24th. The basic materials company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.20). Teck Resources had a return on equity of 9.11% and a net margin of 15.78%. The firm had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.77 billion. Analysts expect that Teck Resources Limited will post 3.83 earnings per share for the current year.

Teck Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.42%. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s payout ratio is presently 11.78%.

About Teck Resources

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. It operates through Steelmaking Coal, Copper, Zinc, and Energy segments. The company's principal products include copper, zinc, steelmaking coal, and blended bitumen.