Massachusetts Financial Services Co. MA Has $44.07 Million Holdings in Teck Resources Limited (NYSE:TECK)

Massachusetts Financial Services Co. MA reduced its stake in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 8.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,087,416 shares of the basic materials company's stock after selling 104,880 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.22% of Teck Resources worth $44,073,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in TECK. Norges Bank acquired a new stake in shares of Teck Resources in the 4th quarter worth approximately $470,101,000. Swedbank AB acquired a new position in shares of Teck Resources in the 4th quarter worth approximately $103,878,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Teck Resources in the 4th quarter worth approximately $65,197,000. AMF Tjanstepension AB lifted its stake in Teck Resources by 32.2% during the fourth quarter. AMF Tjanstepension AB now owns 6,020,023 shares of the basic materials company's stock valued at $244,252,000 after purchasing an additional 1,467,516 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new stake in Teck Resources during the third quarter worth approximately $70,549,000. 78.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on TECK shares. National Bankshares reissued 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. Desjardins assumed coverage on shares of Teck Resources in a report on Friday, April 4th. They issued a "buy" rating for the company. Bank of America raised their target price on Teck Resources from $62.00 to $64.00 and gave the company a "buy" rating in a report on Monday, March 10th. Finally, Raymond James cut their price objective on Teck Resources from $75.00 to $70.00 and set an "outperform" rating on the stock in a research note on Wednesday, January 22nd. Seven 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $64.11.

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Teck Resources Trading Down 6.0 %

Shares of NYSE TECK traded down $1.99 during mid-day trading on Thursday, hitting $31.41. The company's stock had a trading volume of 2,087,271 shares, compared to its average volume of 3,198,062. 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 stock has a market cap of $15.54 billion, a price-to-earnings ratio of 57.36 and a beta of 0.81. The company's fifty day simple moving average is $39.69 and its 200-day simple moving average is $43.67. Teck Resources Limited has a one year low of $28.32 and a one year high of $55.13.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its earnings results on Thursday, February 20th. The basic materials company reported $0.33 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 2.96% and a return on equity of 4.59%. On average, sell-side analysts anticipate that Teck Resources Limited will post 1.53 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders 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 yield of 1.12%. The ex-dividend date was Friday, March 14th. Teck Resources's dividend payout ratio (DPR) is currently 61.82%.

About Teck Resources

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.