Invesco Ltd. raised its holdings in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 4.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,711,727 shares of the basic materials company's stock after buying an additional 347,235 shares during the quarter. Invesco Ltd. owned about 1.55% of Teck Resources worth $312,556,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC bought a new position in Teck Resources in the fourth quarter valued at $25,000. Global Trust Asset Management LLC bought a new position in shares of Teck Resources during the 4th quarter valued at about $27,000. FPC Investment Advisory Inc. bought a new stake in Teck Resources in the 4th quarter worth approximately $27,000. Community Bank N.A. purchased a new stake in Teck Resources in the fourth quarter worth approximately $33,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Teck Resources during the third quarter worth approximately $40,000. 78.06% of the stock is currently owned by institutional investors.
Teck Resources Stock Up 1.0 %
TECK traded up $0.34 on Tuesday, hitting $34.07. The company had a trading volume of 632,335 shares, compared to its average volume of 3,189,299. The stock has a fifty day simple moving average of $39.18 and a 200-day simple moving average of $43.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. The firm has a market capitalization of $16.86 billion, a P/E ratio of 61.95 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 announced its earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07. The firm had revenue of $1.99 billion during 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%. As a group, equities 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 issued a dividend of $0.0879 per share. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend was Friday, March 14th. Teck Resources's dividend payout ratio (DPR) is presently 61.82%.
Wall Street Analyst Weigh In
Several research firms have recently commented on TECK. Bank of America lifted 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. Desjardins started coverage on Teck Resources in a research report on Friday, April 4th. They issued a "buy" rating for the company. Veritas upgraded shares of Teck Resources to a "hold" rating in a report on Friday. Raymond James decreased their target price on shares of Teck Resources from $75.00 to $70.00 and set an "outperform" rating on the stock in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. dropped their price target 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, April 10th. Eight 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 stock. According to data from MarketBeat.com, Teck Resources presently has an average rating of "Moderate Buy" and an average target price of $64.11.
Read Our Latest Report 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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