Centiva Capital LP Makes New Investment in Teck Resources Ltd $TECK

Centiva Capital LP purchased a new stake in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 10,917 shares of the basic materials company’s stock, valued at approximately $479,000.

Several other large investors have also recently modified their holdings of TECK. Principal Financial Group Inc. increased its stake in Teck Resources by 36.1% during the 3rd quarter. Principal Financial Group Inc. now owns 16,879,229 shares of the basic materials company’s stock valued at $740,604,000 after purchasing an additional 4,474,637 shares in the last quarter. Norges Bank bought a new position in shares of Teck Resources in the second quarter worth approximately $437,657,000. Northwest & Ethical Investments L.P. lifted its stake in shares of Teck Resources by 16.1% in the second quarter. Northwest & Ethical Investments L.P. now owns 157,645 shares of the basic materials company’s stock worth $6,402,000 after buying an additional 21,900 shares in the last quarter. Alps Advisors Inc. grew its holdings in shares of Teck Resources by 37.3% during the third quarter. Alps Advisors Inc. now owns 166,334 shares of the basic materials company’s stock valued at $7,300,000 after buying an additional 45,194 shares during the last quarter. Finally, Swiss National Bank grew its holdings in shares of Teck Resources by 6.0% during the second quarter. Swiss National Bank now owns 1,428,679 shares of the basic materials company’s stock valued at $57,555,000 after buying an additional 80,300 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on TECK shares. UBS Group restated a “buy” rating on shares of Teck Resources in a report on Tuesday, January 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Teck Resources in a research note on Wednesday, January 21st. JPMorgan Chase & Co. boosted their price target on Teck Resources from $43.00 to $51.00 and gave the stock a “neutral” rating in a research note on Friday, December 5th. Raymond James Financial downgraded Teck Resources from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 14th. Finally, Truist Financial set a $67.00 price objective on Teck Resources in a research report on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $57.00.

Teck Resources Stock Down 4.6%

TECK opened at $49.51 on Monday. The stock has a market capitalization of $23.83 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 3.02 and a beta of 0.77. The firm has a 50 day moving average price of $54.81 and a 200-day moving average price of $46.61. Teck Resources Ltd has a twelve month low of $28.32 and a twelve month high of $62.41. The company has a quick ratio of 1.91, a current ratio of 2.54 and a debt-to-equity ratio of 0.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its earnings results on Thursday, February 19th. The basic materials company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.39. Teck Resources had a net margin of 12.98% and a return on equity of 5.90%. The company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter last year, the company posted $0.45 earnings per share. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. Equities research analysts forecast that Teck Resources Ltd will post 1.53 earnings per share for the current year.

Teck Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, March 13th. Teck Resources’s dividend payout ratio (DPR) is 18.32%.

Teck Resources Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.