Gemsstock Ltd. boosted its stake in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 14.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 473,170 shares of the basic materials company's stock after purchasing an additional 60,100 shares during the period. Teck Resources makes up approximately 3.8% of Gemsstock Ltd.'s portfolio, making the stock its 6th biggest holding. Gemsstock Ltd. owned approximately 0.09% of Teck Resources worth $19,178,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC purchased a new stake in shares of Teck Resources during the fourth quarter valued at approximately $25,000. Global Trust Asset Management LLC purchased a new stake in Teck Resources during the 4th quarter worth approximately $27,000. FPC Investment Advisory Inc. bought a new stake in shares of Teck Resources in the fourth quarter worth $27,000. Community Bank N.A. bought a new stake in shares of Teck Resources in the 4th quarter worth about $33,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Teck Resources during the third quarter valued at approximately $40,000. Institutional investors and hedge funds own 78.06% of the company's stock.
Teck Resources Stock Performance
Teck Resources stock traded up $1.90 during mid-day trading on Friday, hitting $33.65. 2,779,981 shares of the company's stock traded hands, compared to its average volume of 3,197,845. Teck Resources Limited has a one year low of $28.32 and a one year high of $55.13. The company has a market cap of $16.65 billion, a PE ratio of 60.70 and a beta of 0.81. The firm has a 50 day moving average price of $39.52 and a 200 day moving average price of $43.53. 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 (NYSE:TECK - Get Free Report) TSE: TECK last issued its quarterly earnings results 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. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $2.58 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. On average, equities analysts forecast that Teck Resources Limited will post 1.53 EPS for the current year.
Teck Resources Cuts Dividend
The business 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 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date was Friday, March 14th. Teck Resources's dividend payout ratio is currently 61.82%.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on TECK. Bank of America boosted their price target on Teck Resources from $62.00 to $64.00 and gave the company a "buy" rating in a report on Monday, March 10th. Raymond James lowered their target price 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. Desjardins assumed coverage on shares of Teck Resources in a research report on Friday, April 4th. They issued a "buy" rating on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Teck Resources from $50.00 to $41.00 and set an "overweight" rating for the company in a research report on Thursday. Finally, National Bankshares reiterated a "sector perform" rating on shares of Teck Resources in a research note on Wednesday, April 2nd. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Teck Resources presently has a consensus rating of "Moderate Buy" and a consensus price target of $64.11.
Read Our Latest Stock Analysis on Teck Resources
About Teck Resources
(
Free Report)
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.
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