LifePro Asset Management Acquires New Holdings in Teck Resources Limited (NYSE:TECK)

LifePro Asset Management bought a new position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 716,864 shares of the basic materials company’s stock, valued at approximately $16,517,000. Teck Resources comprises 4.9% of LifePro Asset Management’s portfolio, making the stock its 4th largest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in TECK. Eagle Bay Advisors LLC purchased a new position in Teck Resources during the second quarter worth $70,000. Quadrant Capital Group LLC increased its position in Teck Resources by 25.8% during the first quarter. Quadrant Capital Group LLC now owns 3,210 shares of the basic materials company’s stock worth $62,000 after buying an additional 658 shares in the last quarter. NEXT Financial Group Inc increased its position in Teck Resources by 954.9% during the second quarter. NEXT Financial Group Inc now owns 5,000 shares of the basic materials company’s stock worth $115,000 after buying an additional 4,526 shares in the last quarter. Atlas Capital Advisors LLC purchased a new position in Teck Resources during the first quarter worth $126,000. Finally, The PNC Financial Services Group Inc. increased its position in Teck Resources by 23.7% during the first quarter. The PNC Financial Services Group Inc. now owns 9,539 shares of the basic materials company’s stock worth $182,000 after buying an additional 1,827 shares in the last quarter. Institutional investors own 45.45% of the company’s stock.

Several research firms have weighed in on TECK. Morgan Stanley raised their price target on Teck Resources from $27.50 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 28th. National Bank Financial lowered their price objective on Teck Resources from C$38.50 to C$37.50 and set an “outperform” rating for the company in a research report on Wednesday, July 28th. Credit Suisse Group lifted their price objective on Teck Resources from C$34.00 to C$42.00 and gave the company an “outperform” rating in a research report on Wednesday, July 28th. National Bankshares lifted their price objective on Teck Resources from C$37.50 to C$43.00 and gave the company an “outperform” rating in a research report on Friday, September 10th. Finally, Scotiabank lowered their price objective on Teck Resources from C$36.00 to C$35.00 and set an “outperform” rating for the company in a research report on Wednesday, July 28th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Teck Resources has an average rating of “Buy” and a consensus target price of $30.81.

Shares of TECK traded up $0.75 during midday trading on Wednesday, reaching $26.59. 212,281 shares of the company were exchanged, compared to its average volume of 5,014,595. The stock has a 50-day moving average price of $22.48 and a 200-day moving average price of $22.30. The company has a market cap of $13.95 billion, a price-to-earnings ratio of 105.28 and a beta of 1.27. Teck Resources Limited has a 1-year low of $11.91 and a 1-year high of $26.72. The company has a current ratio of 1.26, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Tuesday, July 27th. The basic materials company reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.13. The company had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.69 billion. Teck Resources had a return on equity of 5.02% and a net margin of 1.83%. The firm’s quarterly revenue was up 48.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.17 earnings per share. Equities research analysts anticipate that Teck Resources Limited will post 2.78 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 29th. Shareholders of record on Wednesday, September 15th will be paid a dividend of $0.0397 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date is Tuesday, September 14th. Teck Resources’s dividend payout ratio is presently 21.79%.

Teck Resources Company Profile

Teck Resources Ltd. is a resource company, which engages in mining and development of mineral properties. It organized into business units focused on steelmaking coal, copper, zinc, and energy. The firm also offers lead, silver, molybdenum and various specialty and other metals, chemicals and fertilizers.

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Institutional Ownership by Quarter for Teck Resources (NYSE:TECK)

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