HHM Wealth Advisors LLC Makes New $67,000 Investment in Teck Resources Limited (NYSE:TECK)

HHM Wealth Advisors LLC purchased a new stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,400 shares of the basic materials company’s stock, valued at approximately $67,000.

Several other institutional investors and hedge funds also recently modified their holdings of TECK. Hexagon Capital Partners LLC lifted its stake in Teck Resources by 143.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 386 shares in the last quarter. Creekmur Asset Management LLC acquired a new position in Teck Resources during the fourth quarter worth $35,000. Headlands Technologies LLC bought a new position in Teck Resources in the second quarter valued at $38,000. Optiver Holding B.V. increased its stake in Teck Resources by 81.9% in the 4th quarter. Optiver Holding B.V. now owns 973 shares of the basic materials company’s stock valued at $41,000 after buying an additional 438 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in Teck Resources by 583.1% during the 2nd quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock worth $48,000 after buying an additional 898 shares in the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Teck Resources Price Performance

Shares of NYSE TECK opened at $44.78 on Thursday. The business’s 50 day moving average is $47.28 and its 200-day moving average is $47.28. The firm has a market cap of $22.91 billion, a P/E ratio of 19.81 and a beta of 1.01. Teck Resources Limited has a 1-year low of $34.38 and a 1-year high of $55.13. The company has a current ratio of 1.48, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.32. Teck Resources had a net margin of 9.40% and a return on equity of 6.52%. The company had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter in the previous year, the business posted $0.91 earnings per share. Teck Resources’s quarterly revenue was up 10.1% on a year-over-year basis. Equities research analysts predict that Teck Resources Limited will post 2.01 earnings per share for the current year.

Teck Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.625 per share. The ex-dividend date is Friday, September 13th. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. This represents a $2.50 annualized dividend and a dividend yield of 5.58%. Teck Resources’s dividend payout ratio (DPR) is currently 16.37%.

Analyst Ratings Changes

TECK has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered their target price on Teck Resources from $56.00 to $54.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. UBS Group upgraded Teck Resources from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $76.00 to $78.00 in a research note on Wednesday, September 4th. Paradigm Capital raised shares of Teck Resources to a “moderate buy” rating in a research note on Friday, July 26th. CIBC upped their price target on shares of Teck Resources from $70.00 to $80.00 and gave the stock an “outperformer” rating in a research report on Friday, July 12th. Finally, StockNews.com downgraded shares of Teck Resources from a “hold” rating to a “sell” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $65.00.

Teck Resources Company Profile

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