Fmr LLC Buys 1,080,714 Shares of Teck Resources Limited (NYSE:TECK)

FMR LLC grew its holdings in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 29.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,715,144 shares of the basic materials company's stock after purchasing an additional 1,080,714 shares during the period. FMR LLC owned approximately 0.95% of Teck Resources worth $191,133,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Norges Bank purchased a new position in Teck Resources during the 4th quarter valued at about $470,101,000. Swedbank AB acquired a new stake in shares of Teck Resources during the fourth quarter worth approximately $103,878,000. Arrowstreet Capital Limited Partnership purchased a new position in Teck Resources during the fourth quarter valued at approximately $65,197,000. AMF Tjanstepension AB increased its stake in Teck Resources by 32.2% in the 4th quarter. AMF Tjanstepension AB now owns 6,020,023 shares of the basic materials company's stock valued at $244,252,000 after buying an additional 1,467,516 shares during the period. 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 worth $388,507,000 after buying an additional 1,326,241 shares in the last quarter. Institutional investors and hedge funds own 78.06% of the company's stock.

Teck Resources Stock Performance

TECK stock traded up $0.12 on Tuesday, reaching $33.85. 2,051,748 shares of the company were exchanged, compared to its average volume of 3,190,703. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. Teck Resources Limited has a 12 month low of $28.32 and a 12 month high of $55.13. The stock's fifty day moving average price is $39.00 and its 200 day moving average price is $43.15. The firm has a market capitalization of $16.75 billion, a PE ratio of 61.55 and a beta of 0.81.

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Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its quarterly earnings data 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. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2.58 billion. On average, research analysts anticipate that Teck Resources Limited will post 1.53 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Friday, March 14th. Teck Resources's dividend payout ratio is presently 61.82%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TECK shares. Bank of America increased their price objective on Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a report on Monday, March 10th. Veritas raised Teck Resources to a "hold" rating in a research note on Friday. National Bankshares reaffirmed a "sector perform" rating on shares of Teck Resources in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. dropped their price target 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, April 10th. Finally, Raymond James reduced their price objective on shares of Teck Resources from $75.00 to $70.00 and set an "outperform" rating for the company in a research note on Wednesday, January 22nd. Eight investment 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, Teck Resources currently has an average rating of "Moderate Buy" and an average price target of $64.11.

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.