Guardian Capital Advisors LP Has $1.63 Million Position in Teck Resources Limited (NYSE:TECK)

Posted by Defense World Staff on Jun 13th, 2023

Guardian Capital Advisors LP grew its position in Teck Resources Limited (NYSE:TECK – Get Rating) (TSE:TECK) by 3.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,801 shares of the basic materials company’s stock after buying an additional 1,375 shares during the quarter. Guardian Capital Advisors LP’s holdings in Teck Resources were worth $1,633,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Teck Resources by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 15,602,373 shares of the basic materials company’s stock valued at $474,468,000 after buying an additional 297,156 shares in the last quarter. Davis Selected Advisers raised its position in shares of Teck Resources by 2.0% in the 4th quarter. Davis Selected Advisers now owns 13,008,612 shares of the basic materials company’s stock valued at $491,986,000 after buying an additional 253,832 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Teck Resources by 5.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,418,574 shares of the basic materials company’s stock worth $242,758,000 after purchasing an additional 343,370 shares in the last quarter. Bank of Montreal Can increased its position in Teck Resources by 21.3% during the 4th quarter. Bank of Montreal Can now owns 5,880,796 shares of the basic materials company’s stock worth $223,600,000 after purchasing an additional 1,034,168 shares in the last quarter. Finally, BlackRock Inc. increased its position in Teck Resources by 56.3% during the 3rd quarter. BlackRock Inc. now owns 4,286,492 shares of the basic materials company’s stock worth $130,351,000 after purchasing an additional 1,544,874 shares in the last quarter. 56.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. TD Securities lowered their price objective on shares of Teck Resources from C$80.00 to C$78.00 in a research report on Thursday, April 27th. Morgan Stanley lowered their price objective on shares of Teck Resources from $44.00 to $42.00 and set an “overweight” rating for the company in a research report on Wednesday, March 29th. Scotiabank reiterated a “sector outperform” rating on shares of Teck Resources in a research report on Thursday, April 13th. Raymond James upped their price objective on shares of Teck Resources to C$69.00 in a research report on Thursday, April 27th. Finally, B. Riley upped their price objective on shares of Teck Resources from C$66.00 to C$68.00 in a research report on Friday, April 28th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Teck Resources has a consensus rating of “Moderate Buy” and an average price target of $61.86.

Teck Resources Trading Down 1.6 %

NYSE:TECK opened at $41.81 on Tuesday. The firm’s fifty day moving average is $43.25 and its 200-day moving average is $40.54. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.80 and a current ratio of 1.28. Teck Resources Limited has a 52 week low of $24.72 and a 52 week high of $49.34. The firm has a market cap of $21.42 billion, a P/E ratio of 10.05, a P/E/G ratio of 1.51 and a beta of 1.07.

Teck Resources (NYSE:TECK – Get Rating) (TSE:TECK) last posted its quarterly earnings data on Wednesday, April 26th. The basic materials company reported $1.32 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.01). Teck Resources had a net margin of 16.80% and a return on equity of 15.71%. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.96 billion. Equities analysts expect that Teck Resources Limited will post 4.75 earnings per share for the current year.

Teck Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be paid a $0.125 dividend. This is a positive change from Teck Resources’s previous quarterly dividend of $0.09. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Wednesday, June 14th. Teck Resources’s dividend payout ratio is currently 8.89%.

About Teck Resources

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Teck Resources Limited is a resource company, which engages in the exploration, acquisition, development, production, and sale of natural resources, Its products include steelmaking coal, copper, zinc, industrial products and fertilizers, and other metals. Its project operations are located in Canada, Peru, Chile, and US.

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

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