Vanguard Group Inc. Raises Stock Position in Teck Resources Limited (NYSE:TECK)

Vanguard Group Inc. boosted its stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 0.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,316,132 shares of the basic materials company’s stock after acquiring an additional 58,985 shares during the quarter. Vanguard Group Inc. owned about 3.87% of Teck Resources worth $783,153,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TECK. Principal Financial Group Inc. grew its stake in shares of Teck Resources by 21.7% during the third quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company’s stock valued at $388,507,000 after buying an additional 1,326,241 shares during the last quarter. Cerity Partners LLC increased its holdings in shares of Teck Resources by 374.7% in the 3rd quarter. Cerity Partners LLC now owns 39,625 shares of the basic materials company’s stock valued at $2,070,000 after acquiring an additional 31,278 shares during the period. FMR LLC grew its stake in Teck Resources by 72.8% in the third quarter. FMR LLC now owns 3,634,430 shares of the basic materials company’s stock valued at $189,848,000 after purchasing an additional 1,531,563 shares during the last quarter. D.A. Davidson & CO. raised its stake in shares of Teck Resources by 85.0% during the 3rd quarter. D.A. Davidson & CO. now owns 17,031 shares of the basic materials company’s stock worth $890,000 after acquiring an additional 7,826 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Teck Resources by 194.2% during the third quarter. BNP Paribas Financial Markets now owns 141,593 shares of the basic materials company’s stock worth $7,397,000 after purchasing an additional 93,459 shares in the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Teck Resources Trading Down 4.8 %

Teck Resources stock opened at $37.43 on Friday. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The firm has a market cap of $18.52 billion, a PE ratio of 68.05 and a beta of 0.93. The stock’s 50 day simple moving average is $41.56 and its two-hundred day simple moving average is $44.64. Teck Resources Limited has a 12 month low of $36.54 and a 12 month high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.26 by $0.07. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $2.58 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. Analysts anticipate that Teck Resources Limited will post 1.53 earnings per share for the current year.

Teck Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.0879 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a yield of 0.94%. Teck Resources’s dividend payout ratio is currently 61.82%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on TECK shares. Raymond James cut their price objective on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, January 22nd. Bank of America raised their price target on shares of Teck Resources from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, March 10th. JPMorgan Chase & Co. dropped their price objective on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Finally, National Bank Financial lowered Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Teck Resources has an average rating of “Moderate Buy” and an average target price of $65.22.

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.