Grantham Mayo Van Otterloo & Co. LLC lessened its stake in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 36.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 421,744 shares of the basic materials company's stock after selling 238,800 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned about 0.08% of Teck Resources worth $17,092,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of TECK. Aviva PLC boosted its position in shares of Teck Resources by 39.2% in the 4th quarter. Aviva PLC now owns 276,273 shares of the basic materials company's stock valued at $11,179,000 after purchasing an additional 77,838 shares during the period. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Teck Resources in the fourth quarter valued at approximately $55,000. Prudential PLC purchased a new position in shares of Teck Resources during the fourth quarter worth approximately $426,000. ExodusPoint Capital Management LP increased its holdings in shares of Teck Resources by 32.8% in the 4th quarter. ExodusPoint Capital Management LP now owns 1,563,438 shares of the basic materials company's stock valued at $63,366,000 after acquiring an additional 385,737 shares during the period. Finally, Cinctive Capital Management LP purchased a new stake in Teck Resources in the 4th quarter valued at $2,662,000. Institutional investors and hedge funds own 78.06% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have issued reports on TECK. Desjardins initiated coverage on shares of Teck Resources in a research report on Friday, April 4th. They set a "buy" rating on the stock. Bank of America raised their price target on 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 price objective on Teck Resources from $75.00 to $70.00 and set an "outperform" rating for the company in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. lowered their target price on Teck Resources from $50.00 to $41.00 and set an "overweight" rating on the stock in a research note on Thursday. Finally, National Bankshares restated 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 given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $64.11.
View Our Latest Research Report on Teck Resources
Teck Resources Price Performance
Teck Resources stock traded up $1.59 during midday trading on Friday, reaching $33.34. The company's stock had a trading volume of 2,360,926 shares, compared to its average volume of 3,196,029. The firm has a market capitalization of $16.50 billion, a PE ratio of 60.50 and a beta of 0.81. Teck Resources Limited has a fifty-two week low of $28.32 and a fifty-two week high of $55.13. The stock's 50 day simple moving average is $39.52 and its 200 day simple moving average is $43.53. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92.
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 the consensus estimate of $0.26 by $0.07. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The firm had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $2.58 billion. On average, equities research analysts forecast that Teck Resources Limited will post 1.53 earnings per share for the current year.
Teck Resources Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a dividend of $0.0879 per share. This represents a $0.35 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Friday, March 14th. Teck Resources's dividend payout ratio (DPR) is 61.82%.
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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