Barings LLC Acquires 27,211 Shares of Teck Resources Limited (NYSE:TECK)

Barings LLC grew its holdings in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 22.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 149,300 shares of the basic materials company’s stock after acquiring an additional 27,211 shares during the period. Barings LLC’s holdings in Teck Resources were worth $6,051,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Amundi boosted its holdings in Teck Resources by 5.6% in the 4th quarter. Amundi now owns 14,949,233 shares of the basic materials company’s stock worth $619,765,000 after buying an additional 791,725 shares during the period. Principal Financial Group Inc. boosted its holdings in Teck Resources by 21.7% in the 3rd quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company’s stock worth $388,507,000 after buying an additional 1,326,241 shares during the period. CIBC Asset Management Inc boosted its holdings in Teck Resources by 2.0% in the 4th quarter. CIBC Asset Management Inc now owns 6,623,228 shares of the basic materials company’s stock worth $269,956,000 after buying an additional 127,348 shares during the period. AMF Tjanstepension AB boosted its holdings in Teck Resources by 32.2% in the 4th quarter. AMF Tjanstepension AB now owns 6,020,023 shares of the basic materials company’s stock worth $244,252,000 after buying an additional 1,467,516 shares during the period. Finally, FMR LLC lifted its stake in Teck Resources by 72.8% in the 3rd quarter. FMR LLC now owns 3,634,430 shares of the basic materials company’s stock worth $189,848,000 after purchasing an additional 1,531,563 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

Teck Resources Stock Down 2.4 %

Shares of NYSE TECK opened at $39.79 on Friday. The firm’s 50-day moving average price is $41.80 and its 200-day moving average price is $45.28. 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 stock has a market capitalization of $19.76 billion, a price-to-earnings ratio of 72.34 and a beta of 0.93. Teck Resources Limited has a 12-month low of $37.75 and a 12-month high of $55.13.

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

Teck Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $0.0879 dividend. This represents a $0.35 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Friday, March 14th. Teck Resources’s dividend payout ratio (DPR) is currently 61.82%.

Wall Street Analysts Forecast Growth

TECK has been the topic of several research analyst reports. UBS Group cut shares of Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. decreased their price target on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. National Bank Financial cut shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. Finally, Raymond James decreased their price target on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 22nd. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Teck Resources has a consensus rating of “Moderate Buy” and an average target price of $65.38.

Teck Resources 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.