Quantinno Capital Management LP Grows Stock Holdings in Teck Resources Ltd $TECK

Quantinno Capital Management LP boosted its stake in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 22.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,745 shares of the basic materials company’s stock after purchasing an additional 10,343 shares during the period. Quantinno Capital Management LP’s holdings in Teck Resources were worth $2,937,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Welch Group LLC grew its position in Teck Resources by 3.5% in the 4th quarter. Welch Group LLC now owns 5,899 shares of the basic materials company’s stock worth $283,000 after purchasing an additional 199 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Teck Resources by 117.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 561 shares of the basic materials company’s stock valued at $29,000 after buying an additional 303 shares during the period. Compound Planning Inc. lifted its holdings in shares of Teck Resources by 1.0% during the 4th quarter. Compound Planning Inc. now owns 32,266 shares of the basic materials company’s stock valued at $1,545,000 after buying an additional 333 shares during the period. 44 Wealth Management LLC boosted its stake in shares of Teck Resources by 1.3% in the 4th quarter. 44 Wealth Management LLC now owns 31,488 shares of the basic materials company’s stock worth $1,508,000 after buying an additional 411 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its stake in shares of Teck Resources by 5.5% in the 3rd quarter. NewEdge Advisors LLC now owns 8,635 shares of the basic materials company’s stock worth $379,000 after buying an additional 452 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Teck Resources Trading Up 0.6%

Shares of TECK stock opened at $66.53 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.12 and a quick ratio of 2.33. The company has a market cap of $32.13 billion, a price-to-earnings ratio of 18.03, a PEG ratio of 1.95 and a beta of 0.92. Teck Resources Ltd has a 1 year low of $30.98 and a 1 year high of $71.25. The firm has a fifty day moving average price of $61.27 and a 200-day moving average price of $58.31.

Teck Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Teck Resources’s payout ratio is currently 9.76%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Teck Resources from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, July 28th. Weiss Ratings raised Teck Resources from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft boosted their price target on Teck Resources from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Zacks Research lowered shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 22nd. Finally, Wall Street Zen cut shares of Teck Resources from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 26th. Six equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $62.25.

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.