Douglas Lane & Associates LLC Grows Stock Holdings in Teck Resources Limited (NYSE:TECK)

Douglas Lane & Associates LLC increased its holdings in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 10.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 950,612 shares of the basic materials company's stock after acquiring an additional 91,370 shares during the quarter. Douglas Lane & Associates LLC owned approximately 0.19% of Teck Resources worth $38,528,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. raised its stake in shares of 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 purchasing an additional 1,326,241 shares during the period. CIBC Asset Management Inc boosted its stake in Teck Resources by 2.6% in the third quarter. CIBC Asset Management Inc now owns 6,495,880 shares of the basic materials company's stock valued at $341,337,000 after acquiring an additional 165,759 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of Teck Resources by 10.3% during the 2nd quarter. Mackenzie Financial Corp now owns 5,855,836 shares of the basic materials company's stock valued at $280,655,000 after acquiring an additional 546,801 shares during the period. Cibc World Market Inc. increased its stake in shares of Teck Resources by 26.1% during the 2nd quarter. Cibc World Market Inc. now owns 4,779,715 shares of the basic materials company's stock worth $228,948,000 after purchasing an additional 989,612 shares during the last quarter. Finally, AMF Tjanstepension AB raised its holdings in shares of Teck Resources by 3.9% in the 3rd quarter. AMF Tjanstepension AB now owns 4,552,507 shares of the basic materials company's stock worth $238,055,000 after purchasing an additional 169,476 shares during the period. Hedge funds and other institutional investors own 78.06% of the company's stock.

Teck Resources Price Performance

NYSE:TECK traded up $0.22 during mid-day trading on Wednesday, hitting $41.39. 2,429,676 shares of the stock traded hands, compared to its average volume of 1,970,714. The business's 50-day moving average price is $44.68 and its 200 day moving average price is $46.96. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The company has a market cap of $20.75 billion, a PE ratio of 62.71 and a beta of 1.05. Teck Resources Limited has a 12-month low of $36.50 and a 12-month high of $55.13.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.24. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same period in the previous year, the business earned $0.57 EPS. The business's revenue for the quarter was down 20.6% on a year-over-year basis. On average, analysts expect that Teck Resources Limited will post 1.81 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a $0.0895 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.86%. Teck Resources's payout ratio is currently 56.06%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on TECK shares. UBS Group lowered Teck Resources from a "buy" rating to a "neutral" rating in a report on Monday, November 11th. Scotiabank increased their price target on Teck Resources from $78.00 to $79.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. lowered their price objective on Teck Resources from $57.00 to $55.00 and set an "overweight" rating on the stock in a research note on Friday, October 25th. National Bank Financial lowered shares of Teck Resources from an "outperform" rating to a "sector perform" rating in a research report on Tuesday, December 10th. Finally, Citigroup upgraded shares of Teck Resources to a "hold" rating in a research note on Wednesday, October 2nd. Six investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $65.29.

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.