AMF Tjanstepension AB lifted its position in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 32.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,020,023 shares of the basic materials company's stock after purchasing an additional 1,467,516 shares during the period. Teck Resources comprises about 1.7% of AMF Tjanstepension AB's portfolio, making the stock its 20th biggest holding. AMF Tjanstepension AB owned about 1.21% of Teck Resources worth $244,252,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of TECK. PNC Financial Services Group Inc. lifted its holdings in Teck Resources by 2.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,632 shares of the basic materials company's stock valued at $471,000 after purchasing an additional 243 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of Teck Resources by 6.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,844 shares of the basic materials company's stock worth $196,000 after purchasing an additional 297 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in Teck Resources by 7.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 4,897 shares of the basic materials company's stock valued at $198,000 after purchasing an additional 327 shares during the last quarter. OLD National Bancorp IN lifted its holdings in Teck Resources by 7.4% in the 4th quarter. OLD National Bancorp IN now owns 4,955 shares of the basic materials company's stock valued at $201,000 after purchasing an additional 341 shares in the last quarter. Finally, Sanctuary Advisors LLC lifted its holdings in Teck Resources by 1.6% in the 4th quarter. Sanctuary Advisors LLC now owns 31,319 shares of the basic materials company's stock valued at $1,306,000 after purchasing an additional 479 shares in the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.
Teck Resources Trading Up 3.9 %
Shares of NYSE TECK traded up $1.51 during mid-day trading on Wednesday, reaching $40.03. 4,551,075 shares of the company's stock were exchanged, compared to its average volume of 3,145,126. The company's 50-day moving average is $41.70 and its 200-day moving average is $45.09. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. The firm has a market capitalization of $19.88 billion, a price-to-earnings ratio of 72.78 and a beta of 0.93. Teck Resources Limited has a 52-week low of $36.54 and a 52-week high of $55.13.
Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.07. The company had revenue of $1.99 billion during 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 expect that Teck Resources Limited will post 1.53 EPS for the current fiscal year.
Teck Resources Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.0879 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.35 annualized dividend and a yield of 0.88%. Teck Resources's dividend payout ratio (DPR) is presently 61.82%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on TECK shares. JPMorgan Chase & Co. reduced their target price on shares of Teck Resources from $55.00 to $51.00 and set an "overweight" rating for the company in a research report on Thursday, January 16th. Bank of America raised their target price on shares of Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a research note on Monday. Raymond James dropped their price target on Teck Resources from $75.00 to $70.00 and set an "outperform" rating for the company in a research report on Wednesday, January 22nd. Finally, National Bank Financial cut Teck Resources from an "outperform" rating to a "sector perform" rating in a report on Tuesday, December 10th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $65.22.
Check Out Our Latest Stock Analysis on TECK
About Teck Resources
(
Free Report)
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.
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