Teck Resources Limited (NYSE:TECK) Shares Purchased by Amundi

Amundi increased its holdings in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 5.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,949,233 shares of the basic materials company's stock after purchasing an additional 791,725 shares during the period. Amundi owned 3.00% of Teck Resources worth $619,765,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of TECK. Stonebridge Financial Group LLC purchased a new position in shares of Teck Resources during the fourth quarter worth about $25,000. Global Trust Asset Management LLC purchased a new position in shares of Teck Resources in the 4th quarter valued at approximately $27,000. FPC Investment Advisory Inc. acquired a new position in shares of Teck Resources in the fourth quarter valued at approximately $27,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Teck Resources in the third quarter valued at approximately $40,000. Finally, Jones Financial Companies Lllp raised its stake in shares of Teck Resources by 342.8% during the fourth quarter. Jones Financial Companies Lllp now owns 1,758 shares of the basic materials company's stock worth $71,000 after purchasing an additional 1,361 shares during the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TECK. Raymond James lowered their target price 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. JPMorgan Chase & Co. dropped their target price on Teck Resources from $55.00 to $51.00 and set an "overweight" rating on the stock in a research report on Thursday, January 16th. National Bank Financial downgraded Teck Resources from an "outperform" rating to a "sector perform" rating in a research note on Tuesday, December 10th. Finally, Bank of America lifted their price target on Teck Resources from $62.00 to $64.00 and gave the company a "buy" rating in a research note on Monday. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $65.22.

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Teck Resources Price Performance

Shares of NYSE:TECK traded up $1.51 during midday trading on Wednesday, hitting $40.03. 4,551,075 shares of the stock were exchanged, compared to its average volume of 3,145,126. Teck Resources Limited has a twelve month low of $36.54 and a twelve month high of $55.13. 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 company has a 50 day moving average price of $41.70 and a 200-day moving average price of $45.09. The stock has a market cap of $19.88 billion, a P/E ratio of 72.78 and a beta of 0.93.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued 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 business had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $2.58 billion. On average, research analysts forecast that Teck Resources Limited will post 1.53 earnings per share for the current year.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.88%. Teck Resources's dividend payout ratio (DPR) is 61.82%.

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.