Charles Schwab Investment Management Inc. Has $72.89 Million Stake in Teck Resources Limited (NYSE:TECK)

Charles Schwab Investment Management Inc. grew its position in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 14.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,394,120 shares of the basic materials company's stock after purchasing an additional 173,130 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.28% of Teck Resources worth $72,893,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. boosted its position in Teck Resources by 21.7% during the 3rd quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company's stock worth $388,507,000 after acquiring an additional 1,326,241 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in Teck Resources by 2.6% during the third quarter. CIBC Asset Management Inc now owns 6,495,880 shares of the basic materials company's stock worth $341,337,000 after purchasing an additional 165,759 shares during the last quarter. Mackenzie Financial Corp grew its position in Teck Resources by 10.3% in the second quarter. Mackenzie Financial Corp now owns 5,855,836 shares of the basic materials company's stock valued at $280,655,000 after purchasing an additional 546,801 shares in the last quarter. TD Asset Management Inc increased its stake in Teck Resources by 49.0% in the 2nd quarter. TD Asset Management Inc now owns 4,950,816 shares of the basic materials company's stock valued at $237,202,000 after buying an additional 1,629,149 shares during the last quarter. Finally, Cibc World Market Inc. lifted its position in Teck Resources by 26.1% during the 2nd quarter. Cibc World Market Inc. now owns 4,779,715 shares of the basic materials company's stock worth $228,948,000 after buying an additional 989,612 shares in the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Teck Resources Price Performance

Shares of NYSE TECK traded up $0.44 during trading hours on Friday, hitting $46.68. 1,422,402 shares of the stock were exchanged, compared to its average volume of 3,360,059. The company's fifty day simple moving average is $48.82 and its two-hundred day simple moving average is $48.47. The company has a market cap of $23.91 billion, a PE ratio of 70.06 and a beta of 1.04. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. Teck Resources Limited has a 1-year low of $36.50 and a 1-year high of $55.13.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.24. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.09 billion. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The company's revenue for the quarter was down 20.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.57 EPS. On average, sell-side analysts predict that Teck Resources Limited will post 1.82 EPS for the current year.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a dividend of $0.0895 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Friday, December 13th. Teck Resources's dividend payout ratio (DPR) is presently 56.06%.

Analysts Set New Price Targets

TECK has been the topic of several recent analyst reports. StockNews.com raised Teck Resources from a "sell" rating to a "hold" rating in a research report on Thursday, October 24th. Citigroup raised shares of Teck Resources to a "hold" rating in a research report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft downgraded shares of Teck Resources from a "buy" rating to a "hold" rating and set a $50.00 price objective for the company. in a research report on Friday, October 25th. UBS Group cut shares of Teck Resources from a "buy" rating to a "neutral" rating in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. cut their target price 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. Five 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. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $65.29.

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.