Franklin Resources Inc. Buys 13,669 Shares of Teck Resources Limited (NYSE:TECK)

Franklin Resources Inc. raised its holdings in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 338,539 shares of the basic materials company's stock after acquiring an additional 13,669 shares during the period. Franklin Resources Inc. owned about 0.07% of Teck Resources worth $13,716,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Alliancebernstein L.P. boosted its holdings in shares of Teck Resources by 29.5% during the fourth quarter. Alliancebernstein L.P. now owns 3,506,066 shares of the basic materials company's stock worth $142,101,000 after purchasing an additional 798,996 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of Teck Resources in the 4th quarter worth approximately $65,197,000. Pictet Asset Management Holding SA increased its stake in shares of Teck Resources by 102.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 309,987 shares of the basic materials company's stock valued at $12,563,000 after buying an additional 156,980 shares during the period. High Ground Investment Management LLP raised its holdings in shares of Teck Resources by 21.1% during the fourth quarter. High Ground Investment Management LLP now owns 114,705 shares of the basic materials company's stock valued at $4,649,000 after acquiring an additional 20,000 shares in the last quarter. Finally, Norges Bank purchased a new stake in Teck Resources in the fourth quarter worth $470,101,000. Institutional investors own 78.06% of the company's stock.

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Wall Street Analyst Weigh In

A number of research analysts have issued reports on TECK shares. Desjardins assumed coverage on shares of Teck Resources in a research report on Friday, April 4th. They set a "buy" rating on the stock. JPMorgan Chase & Co. reduced 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 report on Thursday. Bank of America raised their price objective on shares of Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a report on Monday, March 10th. Raymond James reduced their target price on Teck Resources from $75.00 to $70.00 and set an "outperform" rating on the stock in a report on Wednesday, January 22nd. Finally, National Bankshares restated a "sector perform" rating on shares of Teck Resources in a research note on Wednesday, April 2nd. Seven equities research 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. According to MarketBeat.com, Teck Resources currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.11.

Teck Resources Stock Up 6.0 %

Shares of NYSE:TECK traded up $1.91 on Friday, hitting $33.66. 5,399,661 shares of the company traded hands, compared to its average volume of 3,204,283. The stock has a 50 day simple moving average of $39.35 and a 200-day simple moving average of $43.42. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The company has a market cap of $16.66 billion, a PE ratio of 61.20 and a beta of 0.81. Teck Resources Limited has a 52 week low of $28.32 and a 52 week high of $55.13.

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

Teck Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.0879 dividend. This represents a $0.35 annualized dividend 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 currently 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.