DekaBank Deutsche Girozentrale Has $27.12 Million Holdings in Teck Resources Limited (NYSE:TECK)

DekaBank Deutsche Girozentrale lifted its stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 414.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 621,556 shares of the basic materials company’s stock after buying an additional 500,715 shares during the period. DekaBank Deutsche Girozentrale owned about 0.12% of Teck Resources worth $27,118,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Ninety One SA PTY Ltd increased its holdings in Teck Resources by 45.1% in the fourth quarter. Ninety One SA PTY Ltd now owns 147,093 shares of the basic materials company’s stock valued at $6,236,000 after purchasing an additional 45,750 shares during the period. Mackenzie Financial Corp boosted its stake in Teck Resources by 45.7% during the 4th quarter. Mackenzie Financial Corp now owns 6,632,418 shares of the basic materials company’s stock valued at $280,491,000 after purchasing an additional 2,080,295 shares during the last quarter. AGF Management Ltd. lifted its position in shares of Teck Resources by 13.4% during the 4th quarter. AGF Management Ltd. now owns 136,376 shares of the basic materials company’s stock worth $5,785,000 after buying an additional 16,141 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Teck Resources by 37.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,935,979 shares of the basic materials company’s stock worth $81,966,000 after buying an additional 526,611 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its position in shares of Teck Resources by 13.0% during the 4th quarter. 1832 Asset Management L.P. now owns 856,244 shares of the basic materials company’s stock worth $36,193,000 after buying an additional 98,655 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on TECK. Benchmark reissued a “buy” rating and set a $55.00 target price on shares of Teck Resources in a research report on Thursday, July 25th. Morgan Stanley lifted their price target on shares of Teck Resources from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, June 21st. BMO Capital Markets assumed coverage on shares of Teck Resources in a report on Monday, July 15th. They set an “outperform” rating on the stock. Eight Capital cut shares of Teck Resources from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 11th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Teck Resources from $56.00 to $54.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.40.

Teck Resources Trading Down 4.2 %

Shares of NYSE:TECK traded down $1.98 during midday trading on Friday, hitting $45.14. 4,176,677 shares of the stock traded hands, compared to its average volume of 3,894,503. The stock has a market capitalization of $23.06 billion, a PE ratio of 19.97, a P/E/G ratio of 10.71 and a beta of 1.05. The business’s 50 day moving average is $48.58 and its two-hundred day moving average is $45.68. The company has a quick ratio of 0.77, a current ratio of 1.48 and a debt-to-equity ratio of 0.19. Teck Resources Limited has a one year low of $34.38 and a one year high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.47 by $0.32. Teck Resources had a net margin of 9.40% and a return on equity of 6.52%. The firm had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same period in the prior year, the firm posted $0.91 earnings per share. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. As a group, research analysts forecast that Teck Resources Limited will post 2.13 earnings per share for the current year.

Teck Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $0.625 dividend. This is an increase from Teck Resources’s previous quarterly dividend of $0.09. This represents a $2.50 dividend on an annualized basis and a yield of 5.54%. The ex-dividend date is Friday, September 13th. Teck Resources’s dividend payout ratio is presently 15.93%.

About Teck Resources

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.