Mufg Securities Canada LTD. lifted its holdings in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 69.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 691,422 shares of the basic materials company's stock after buying an additional 282,713 shares during the quarter. Mufg Securities Canada LTD. owned about 0.14% of Teck Resources worth $28,014,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Teck Resources by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 19,316,132 shares of the basic materials company's stock worth $783,153,000 after buying an additional 58,985 shares during the last quarter. Amundi raised its position in shares of Teck Resources by 5.6% in the 4th quarter. Amundi now owns 14,949,233 shares of the basic materials company's stock valued at $619,765,000 after acquiring an additional 791,725 shares during the period. Principal Financial Group Inc. boosted its stake in Teck Resources by 21.7% during the 3rd quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company's stock worth $388,507,000 after acquiring an additional 1,326,241 shares during the last quarter. CIBC Asset Management Inc grew its holdings in Teck Resources by 2.0% during the fourth quarter. CIBC Asset Management Inc now owns 6,623,228 shares of the basic materials company's stock valued at $269,956,000 after purchasing an additional 127,348 shares during the period. Finally, AMF Tjanstepension AB increased its stake in Teck Resources by 32.2% in 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 in the last quarter. Institutional investors and hedge funds own 78.06% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on TECK shares. JPMorgan Chase & Co. reduced their price target on shares of Teck Resources from $55.00 to $51.00 and set an "overweight" rating on the stock in a research report on Thursday, January 16th. Raymond James decreased their target price 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. 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 research report on Monday, March 10th. Finally, National Bank Financial lowered Teck Resources from an "outperform" rating to a "sector perform" rating in a research report on Tuesday, December 10th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $65.22.
View Our Latest Report on Teck Resources
Teck Resources Stock Down 4.8 %
NYSE:TECK traded down $1.89 on Friday, hitting $37.43. 4,462,011 shares of the company's stock were exchanged, compared to its average volume of 3,157,550. The company has a market cap of $18.52 billion, a P/E ratio of 68.05 and a beta of 0.93. The firm has a 50-day moving average price of $41.56 and a 200-day moving average price of $44.64. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. Teck Resources Limited has a 52 week low of $36.54 and a 52 week high of $55.13.
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 the consensus estimate of $0.26 by $0.07. The firm had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $2.58 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. As a group, analysts expect that Teck Resources Limited will post 1.53 EPS for the current fiscal year.
Teck Resources Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.0879 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a yield of 0.94%. Teck Resources's payout ratio is 61.82%.
Teck Resources Company Profile
(
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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