2,563,000 Shares in Teck Resources Limited (NYSE:TECK) Acquired by Swedbank AB

Swedbank AB bought a new stake in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,563,000 shares of the basic materials company's stock, valued at approximately $103,878,000. Swedbank AB owned about 0.51% of Teck Resources as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. Global Trust Asset Management LLC bought a new stake in shares of Teck Resources in the 4th quarter worth $27,000. Eastern Bank bought a new stake in Teck Resources in the 3rd quarter worth about $39,000. Wilmington Savings Fund Society FSB purchased a new position in Teck Resources in the 3rd quarter worth about $40,000. Bruce G. Allen Investments LLC lifted its stake in Teck Resources by 77.4% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company's stock valued at $46,000 after acquiring an additional 383 shares during the period. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in shares of Teck Resources by 69.7% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company's stock valued at $52,000 after acquiring an additional 409 shares during the last quarter. 78.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TECK. Deutsche Bank Aktiengesellschaft downgraded shares of Teck Resources from a "buy" rating to a "hold" rating and set a $50.00 price objective on the stock. in a research report on Friday, October 25th. Citigroup upgraded Teck Resources to a "hold" rating in a research note on Wednesday, October 2nd. UBS Group cut Teck Resources from a "buy" rating to a "neutral" rating in a research report on Monday, November 11th. Scotiabank upped their price target on shares of Teck Resources from $78.00 to $79.00 and gave the company a "sector outperform" rating in a research report on Tuesday, October 8th. Finally, StockNews.com upgraded shares of Teck Resources from a "sell" rating to a "hold" rating in a research report on Thursday, October 24th. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $65.38.

Teck Resources Price Performance

Shares of TECK stock traded up $0.71 during mid-day trading on Thursday, hitting $41.86. The company had a trading volume of 891,708 shares, compared to its average volume of 2,719,944. 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's 50 day moving average price is $43.17 and its 200-day moving average price is $46.25. Teck Resources Limited has a 52-week low of $36.50 and a 52-week high of $55.13. The company has a market capitalization of $20.88 billion, a P/E ratio of 63.42 and a beta of 1.05.

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a dividend of $0.0895 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend was Friday, December 13th. Teck Resources's dividend payout ratio (DPR) is presently 53.03%.

Teck Resources Company 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.