Triasima Portfolio Management inc. Buys 11,900 Shares of Teck Resources Ltd $TECK

Triasima Portfolio Management inc. boosted its stake in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 43.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,350 shares of the basic materials company’s stock after acquiring an additional 11,900 shares during the period. Triasima Portfolio Management inc.’s holdings in Teck Resources were worth $2,597,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Squarepoint Ops LLC bought a new stake in shares of Teck Resources during the 2nd quarter worth approximately $7,952,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Teck Resources during the 2nd quarter worth approximately $21,425,000. Nykredit A S bought a new position in Teck Resources in the second quarter valued at approximately $4,338,000. NewEdge Advisors LLC increased its stake in Teck Resources by 92.0% in the first quarter. NewEdge Advisors LLC now owns 37,143 shares of the basic materials company’s stock valued at $1,922,000 after acquiring an additional 17,793 shares during the last quarter. Finally, HBK Investments L P increased its stake in Teck Resources by 264.2% in the second quarter. HBK Investments L P now owns 5,773,121 shares of the basic materials company’s stock valued at $343,270,000 after acquiring an additional 4,188,029 shares during the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on TECK shares. Weiss Ratings upgraded Teck Resources from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. JPMorgan Chase & Co. raised their target price on Teck Resources from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, July 28th. Raymond James Financial upgraded Teck Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft boosted their price target on Teck Resources from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Finally, Wall Street Zen cut Teck Resources from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 26th. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $62.25.

Teck Resources Trading Up 1.5%

Shares of Teck Resources stock opened at $65.80 on Friday. The firm has a market capitalization of $31.79 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 2.08 and a beta of 1.01. The company has a current ratio of 3.12, a quick ratio of 2.33 and a debt-to-equity ratio of 0.12. The firm’s 50 day moving average is $66.97 and its 200 day moving average is $62.67. Teck Resources Ltd has a 1 year low of $38.00 and a 1 year high of $72.56.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $1.35 EPS for the quarter, beating the consensus estimate of $0.95 by $0.40. Teck Resources had a net margin of 17.85% and a return on equity of 10.42%. The business had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the prior year, the firm earned $0.38 EPS. The firm’s revenue was up 78.2% compared to the same quarter last year. Equities research analysts forecast that Teck Resources Ltd will post 4.28 earnings per share for the current fiscal year.

Teck Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th were paid a dividend of C$0.12 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, September 15th. Teck Resources’s payout ratio is presently 9.76%.

About Teck Resources

Teck Resources Limited is a Canadian mining and metals company headquartered in Vancouver, British Columbia. The company focuses primarily on the exploration, development and production of copper and zinc, which are used in construction, infrastructure, manufacturing and the global energy transition.

Teck’s copper operations include the Highland Valley Copper mine in British Columbia, the Carmen de Andacollo mine in Chile and the Quebrada Blanca operation in northern Chile. Its zinc business includes the Red Dog mine in Alaska, one of the world’s significant zinc-producing operations.