Aviva PLC Has $11.18 Million Stake in Teck Resources Limited (NYSE:TECK)

Aviva PLC lifted its stake in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 39.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 276,273 shares of the basic materials company's stock after buying an additional 77,838 shares during the period. Aviva PLC owned about 0.06% of Teck Resources worth $11,179,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TECK. Synergy Asset Management LLC grew its position in Teck Resources by 77.7% in the fourth quarter. Synergy Asset Management LLC now owns 16,892 shares of the basic materials company's stock valued at $685,000 after acquiring an additional 7,387 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Teck Resources in the 3rd quarter worth about $1,937,000. FNY Investment Advisers LLC grew its holdings in shares of Teck Resources by 709.5% in the 4th quarter. FNY Investment Advisers LLC now owns 17,000 shares of the basic materials company's stock worth $689,000 after purchasing an additional 14,900 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Teck Resources during the 3rd quarter worth about $1,039,000. Finally, Toronto Dominion Bank lifted its holdings in Teck Resources by 40.1% during the 3rd quarter. Toronto Dominion Bank now owns 903,132 shares of the basic materials company's stock valued at $47,180,000 after purchasing an additional 258,455 shares during the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several analysts have weighed in on TECK shares. JPMorgan Chase & Co. decreased their price objective on shares of Teck Resources from $50.00 to $41.00 and set an "overweight" rating on the stock in a research note on Thursday. 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 report on Wednesday, January 22nd. Bank of America lifted their price objective on Teck Resources from $62.00 to $64.00 and gave the company a "buy" rating in a research report on Monday, March 10th. National Bankshares restated a "sector perform" rating on shares of Teck Resources in a research note on Wednesday, April 2nd. Finally, Desjardins began coverage on shares of Teck Resources in a research report on Friday, April 4th. They set a "buy" rating on the stock. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $64.11.

Teck Resources Trading Up 1.9 %

Shares of NYSE:TECK traded up $0.65 during midday trading on Monday, hitting $34.25. The company had a trading volume of 519,292 shares, compared to its average volume of 3,186,797. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. Teck Resources Limited has a 12 month low of $28.32 and a 12 month high of $55.13. The firm has a fifty day simple moving average of $39.35 and a 200 day simple moving average of $43.35. The stock has a market cap of $16.95 billion, a price-to-earnings ratio of 62.27 and a beta of 0.81.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.07. The firm had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $2.58 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. On average, analysts predict that Teck Resources Limited will post 1.53 EPS for the current year.

Teck Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $0.0879 dividend. This represents a $0.35 annualized dividend and a yield of 1.03%. The ex-dividend date was Friday, March 14th. Teck Resources's payout ratio is presently 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.