Cohen & Steers Inc. Buys 62,285 Shares of Teck Resources Limited (NYSE:TECK)

Cohen & Steers Inc. lifted its position in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 67.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 155,183 shares of the basic materials company's stock after purchasing an additional 62,285 shares during the period. Cohen & Steers Inc.'s holdings in Teck Resources were worth $6,290,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in TECK. Vanguard Group Inc. increased its position in shares of Teck Resources by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 19,316,132 shares of the basic materials company's stock worth $783,153,000 after purchasing an additional 58,985 shares during the period. Amundi boosted its position in Teck Resources by 5.6% in the fourth quarter. Amundi now owns 14,949,233 shares of the basic materials company's stock valued at $619,765,000 after buying an additional 791,725 shares in the last quarter. Norges Bank acquired a new stake in shares of Teck Resources during the 4th quarter valued at $470,101,000. Invesco Ltd. increased its stake in shares of Teck Resources by 4.7% in the fourth quarter. Invesco Ltd. now owns 7,711,727 shares of the basic materials company's stock valued at $312,556,000 after buying an additional 347,235 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of Teck Resources by 21.7% during 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 acquiring an additional 1,326,241 shares during the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TECK. UBS Group reissued a "neutral" rating on shares of Teck Resources in a research note on Tuesday. JPMorgan Chase & Co. decreased their price target on Teck Resources from $50.00 to $41.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Raymond James cut their price objective on Teck Resources from $75.00 to $70.00 and set an "outperform" rating on the stock in a research note on Wednesday, January 22nd. National Bankshares reissued a "sector perform" rating on shares of Teck Resources in a research report on Wednesday, April 2nd. Finally, BMO Capital Markets started coverage on shares of Teck Resources in a research note on Wednesday. They issued an "outperform" rating on the stock. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $64.11.

Teck Resources Stock Down 1.6 %

NYSE:TECK traded down $0.55 on Friday, hitting $32.90. The stock had a trading volume of 2,714,398 shares, compared to its average volume of 3,184,467. 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 Limited has a 52 week low of $28.32 and a 52 week high of $55.13. The business's fifty day moving average is $38.60 and its 200 day moving average is $42.95. The company has a market cap of $16.28 billion, a PE ratio of 59.82 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 company 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, equities research analysts expect that Teck Resources Limited will post 1.53 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.0879 per share. This represents a $0.35 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend 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.