Barings LLC Boosts Position in Teck Resources Limited (NYSE:TECK)

Barings LLC grew its holdings in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 22.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 149,300 shares of the basic materials company's stock after purchasing 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 SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Swedbank AB bought a new stake in Teck Resources during the 4th quarter valued at about $103,878,000. FMR LLC grew its holdings in shares of Teck Resources by 72.8% during the third quarter. FMR LLC now owns 3,634,430 shares of the basic materials company's stock valued at $189,848,000 after buying an additional 1,531,563 shares during the last quarter. AMF Tjanstepension AB increased its position in shares of Teck Resources by 32.2% during the fourth quarter. AMF Tjanstepension AB now owns 6,020,023 shares of the basic materials company's stock valued at $244,252,000 after acquiring an additional 1,467,516 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new position in Teck Resources in the 3rd quarter worth approximately $70,549,000. Finally, Principal Financial Group Inc. lifted its position 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 valued at $388,507,000 after acquiring an additional 1,326,241 shares in the last quarter. 78.06% of the stock is owned by institutional investors.

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Teck Resources Price Performance

Teck Resources stock traded up $1.51 during mid-day trading on Wednesday, reaching $40.03. 4,551,075 shares of the company's stock traded hands, compared to its average volume of 3,145,126. Teck Resources Limited has a 12-month low of $36.54 and a 12-month high of $55.13. The company has a market cap of $19.88 billion, a price-to-earnings ratio of 72.78 and a beta of 0.93. The stock has a 50 day moving average of $41.70 and a two-hundred day moving average of $45.09. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16.

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

Teck Resources Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.0879 per share. 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 payout ratio is 61.82%.

Wall Street Analysts Forecast Growth

TECK has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their target price on Teck Resources from $55.00 to $51.00 and set an "overweight" rating for the company in a report on Thursday, January 16th. Raymond James decreased their price objective on shares of Teck Resources from $75.00 to $70.00 and set an "outperform" rating for the company in a report on Wednesday, January 22nd. National Bank Financial downgraded shares of Teck Resources from an "outperform" rating to a "sector perform" rating in a research report on Tuesday, December 10th. Finally, Bank of America increased their price target on Teck Resources from $62.00 to $64.00 and gave the company a "buy" rating in a report on Monday. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Teck Resources has an average rating of "Moderate Buy" and a consensus target price of $65.22.

About Teck Resources

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.