Public Employees Retirement System of Ohio Buys New Stake in Teck Resources Limited (NYSE:TECK)

Public Employees Retirement System of Ohio bought a new position in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 37,045 shares of the basic materials company's stock, valued at approximately $1,937,000.

Other large investors have also recently made changes to their positions in the company. Headlands Technologies LLC bought a new position in Teck Resources in the second quarter worth approximately $38,000. Eastern Bank bought a new position in shares of Teck Resources during the 3rd quarter worth $39,000. Bruce G. Allen Investments LLC increased its stake in shares of Teck Resources by 77.4% during the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company's stock valued at $46,000 after buying an additional 383 shares during the period. Blue Trust Inc. raised its holdings in shares of Teck Resources by 583.1% in the second quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company's stock valued at $48,000 after acquiring an additional 898 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its stake in Teck Resources by 69.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company's stock worth $52,000 after acquiring an additional 409 shares during the period. 78.06% of the stock is owned by hedge funds and other institutional investors.

Teck Resources Stock Performance

NYSE:TECK traded down $0.13 during trading hours on Thursday, hitting $39.99. 2,373,373 shares of the company were exchanged, compared to its average volume of 3,316,377. The company's 50 day moving average price is $47.09 and its 200-day moving average price is $47.73. The stock has a market capitalization of $20.49 billion, a price-to-earnings ratio of 60.59 and a beta of 1.03. Teck Resources Limited has a 52-week low of $36.50 and a 52-week high of $55.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.24. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.09 billion. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. The business's quarterly revenue was down 20.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.57 earnings per share. As a group, research analysts forecast that Teck Resources Limited will post 1.81 earnings per share for the current year.

Teck Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a $0.0895 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Friday, December 13th. Teck Resources's dividend payout ratio is presently 56.06%.

Analysts Set New Price Targets

A number of research firms have commented on TECK. UBS Group downgraded shares of Teck Resources from a "buy" rating to a "neutral" rating in a research report on Monday, November 11th. Scotiabank raised their price objective on Teck Resources from $78.00 to $79.00 and gave the company a "sector outperform" rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft downgraded shares of Teck Resources from a "buy" rating to a "hold" rating and set a $50.00 target price for the company. in a report on Friday, October 25th. StockNews.com upgraded shares of Teck Resources from a "sell" rating to a "hold" rating in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Teck Resources from $57.00 to $55.00 and set an "overweight" rating for the company in a research note on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Teck Resources has an average rating of "Moderate Buy" and a consensus target price of $65.29.

Teck Resources Company 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.