Teck Resources Limited (NYSE:TECK) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its stake in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,623,228 shares of the basic materials company's stock after purchasing an additional 127,348 shares during the quarter. Teck Resources comprises 0.9% of CIBC Asset Management Inc's holdings, making the stock its 28th largest holding. CIBC Asset Management Inc owned 1.33% of Teck Resources worth $269,956,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in TECK. Swedbank AB bought a new stake in Teck Resources during the fourth quarter valued at about $103,878,000. FMR LLC raised its stake in Teck Resources by 72.8% in 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. Zurich Insurance Group Ltd FI purchased a new stake in Teck Resources in the third quarter valued at about $70,549,000. Principal Financial Group Inc. raised its stake in Teck Resources by 21.7% in the third quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company's stock valued at $388,507,000 after buying an additional 1,326,241 shares during the last quarter. Finally, Holocene Advisors LP raised its stake in Teck Resources by 152.7% in the third quarter. Holocene Advisors LP now owns 2,070,377 shares of the basic materials company's stock valued at $108,156,000 after buying an additional 1,251,203 shares during the last quarter. Institutional investors own 78.06% of the company's stock.

Teck Resources Stock Performance

TECK stock traded up $0.64 during trading on Thursday, hitting $43.34. 3,927,992 shares of the company traded hands, compared to its average volume of 2,883,969. The stock's 50-day simple moving average is $42.01 and its 200 day simple moving average is $45.74. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. The company has a market cap of $21.61 billion, a PE ratio of 65.66 and a beta of 1.02. Teck Resources Limited has a 1 year low of $37.30 and a 1 year high of $55.13.

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 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.07. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. On average, equities analysts expect that Teck Resources Limited will post 1.64 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.0879 per share. This represents a $0.35 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Friday, March 14th. Teck Resources's dividend payout ratio is currently 53.03%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. UBS Group cut Teck Resources from a "buy" rating to a "neutral" rating in a research note on Monday, November 11th. JPMorgan Chase & Co. decreased their price target on Teck Resources from $55.00 to $51.00 and set an "overweight" rating for the company in a research note on Thursday, January 16th. StockNews.com upgraded Teck Resources from a "sell" rating to a "hold" rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft cut Teck Resources from a "buy" rating to a "hold" rating and set a $50.00 price target for the company. in a research note on Friday, October 25th. Finally, National Bank Financial cut Teck Resources from an "outperform" rating to a "sector perform" rating in a research note on Tuesday, December 10th. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $65.38.

Teck Resources Company 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.