JBF Capital Inc. Invests $2.02 Million in Teck Resources Limited (NYSE:TECK)

JBF Capital Inc. bought a new stake in shares of Teck Resources Limited (NYSE:TECKGet Rating) (TSE:TECK) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 50,000 shares of the basic materials company’s stock, valued at approximately $2,020,000. Teck Resources makes up 0.4% of JBF Capital Inc.’s investment portfolio, making the stock its 19th largest holding.

Other hedge funds have also bought and sold shares of the company. Achmea Investment Management B.V. bought a new position in shares of Teck Resources in the first quarter worth approximately $37,000. Optimum Investment Advisors purchased a new stake in Teck Resources in the 1st quarter worth $40,000. Kistler Tiffany Companies LLC increased its stake in Teck Resources by 95.9% in the 1st quarter. Kistler Tiffany Companies LLC now owns 1,056 shares of the basic materials company’s stock worth $43,000 after buying an additional 517 shares in the last quarter. DeDora Capital Inc. bought a new stake in Teck Resources during the first quarter valued at about $45,000. Finally, Cornerstone Advisory LLC bought a new position in shares of Teck Resources in the fourth quarter worth about $46,000. Institutional investors own 55.01% of the company’s stock.

Teck Resources Stock Up 3.8 %

Shares of NYSE:TECK opened at $34.51 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.25. The business has a 50 day simple moving average of $30.71 and a two-hundred day simple moving average of $36.32. Teck Resources Limited has a 1 year low of $22.75 and a 1 year high of $45.90. The firm has a market capitalization of $18.00 billion, a PE ratio of 4.29, a price-to-earnings-growth ratio of 1.16 and a beta of 1.09.

Teck Resources (NYSE:TECKGet Rating) (TSE:TECK) last announced its quarterly earnings data on Wednesday, July 27th. The basic materials company reported $3.25 EPS for the quarter, beating the consensus estimate of $2.01 by $1.24. Teck Resources had a return on equity of 23.73% and a net margin of 28.90%. The company had revenue of $5.79 billion for the quarter, compared to the consensus estimate of $5.59 billion. During the same quarter in the prior year, the company posted $0.51 EPS. Teck Resources’s quarterly revenue was up 126.2% on a year-over-year basis. On average, equities analysts predict that Teck Resources Limited will post 6.83 EPS for the current year.

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be issued a dividend of $0.097 per share. The ex-dividend date is Wednesday, September 14th. This represents a $0.39 dividend on an annualized basis and a yield of 1.12%. Teck Resources’s payout ratio is 4.97%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. National Bank Financial decreased their target price on Teck Resources from C$55.00 to C$52.50 in a research note on Thursday, July 28th. CIBC raised shares of Teck Resources from a “neutral” rating to an “outperform” rating in a research note on Wednesday, June 15th. Canaccord Genuity Group upgraded shares of Teck Resources from a “hold” rating to a “buy” rating in a research note on Thursday, July 28th. Credit Suisse Group dropped their price objective on shares of Teck Resources from C$68.00 to C$63.00 in a report on Tuesday, July 26th. Finally, Royal Bank of Canada decreased their target price on Teck Resources from C$67.00 to C$60.00 in a research report on Thursday, July 28th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, Teck Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.34.

Teck Resources Company Profile

(Get Rating)

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. It operates through Steelmaking Coal, Copper, Zinc, Energy, and Corporate segments. The company's principal products include steelmaking coal; copper, gold, blended bitumen, lead, silver, molybdenum, zinc, and zinc concentrates; chemicals, fertilizers, and other metals.

See Also

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

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