Teck Resources Limited (NYSE:TECK) Position Boosted by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA increased its stake in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 102.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 309,987 shares of the basic materials company's stock after buying an additional 156,980 shares during the quarter. Pictet Asset Management Holding SA owned about 0.06% of Teck Resources worth $12,563,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of 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 acquiring an additional 58,985 shares during the last quarter. Amundi grew its position in Teck Resources by 5.6% in the 4th quarter. Amundi now owns 14,949,233 shares of the basic materials company's stock worth $619,765,000 after purchasing an additional 791,725 shares during the last quarter. Norges Bank acquired a new stake in shares of Teck Resources in the fourth quarter valued at approximately $470,101,000. Principal Financial Group Inc. raised its holdings in shares of Teck Resources by 21.7% during the third quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company's stock valued at $388,507,000 after buying an additional 1,326,241 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its position in shares of 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 worth $269,956,000 after buying an additional 127,348 shares during the period. 78.06% of the stock is owned by institutional investors and hedge funds.

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Teck Resources Price Performance

Shares of TECK traded down $4.11 during trading hours on Friday, hitting $29.97. 8,955,755 shares of the company were exchanged, compared to its average volume of 3,162,983. The firm has a fifty day simple moving average of $40.72 and a 200-day simple moving average of $44.23. The company has a market capitalization of $14.83 billion, a PE ratio of 54.48 and a beta of 0.81. 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 one year low of $29.26 and a one year 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 earnings per share for the quarter, topping analysts' consensus estimates of $0.26 by $0.07. The firm had revenue of $1.99 billion for 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, sell-side analysts predict 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 issued a dividend of $0.0879 per share. The ex-dividend date was Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.17%. Teck Resources's dividend payout ratio is currently 61.82%.

Wall Street Analyst Weigh In

TECK has been the topic of several recent analyst reports. Desjardins started coverage on Teck Resources in a research note on Friday. They set a "buy" rating on the stock. JPMorgan Chase & Co. cut their price objective on shares of Teck Resources from $55.00 to $51.00 and set an "overweight" rating on the stock in a research note on Thursday, January 16th. Raymond James decreased 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 report on Wednesday, January 22nd. Bank of America upped their price target on shares of Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. Finally, National Bank Financial lowered shares of Teck Resources from an "outperform" rating to a "sector perform" rating in a research note on Tuesday, December 10th. Six investment 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 stock has an average rating of "Moderate Buy" and an average price target of $65.22.

Teck Resources Profile

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.