Fmr LLC Has $189.85 Million Stock Position in Teck Resources Limited (NYSE:TECK)

FMR LLC lifted its holdings in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 72.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,634,430 shares of the basic materials company's stock after purchasing an additional 1,531,563 shares during the quarter. FMR LLC owned 0.72% of Teck Resources worth $189,848,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. TD Asset Management Inc grew its stake in shares of Teck Resources by 49.0% in the second quarter. TD Asset Management Inc now owns 4,950,816 shares of the basic materials company's stock worth $237,202,000 after acquiring an additional 1,629,149 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Teck Resources by 21.7% in 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. National Bank of Canada FI boosted its holdings in Teck Resources by 48.4% during the 2nd quarter. National Bank of Canada FI now owns 3,934,663 shares of the basic materials company's stock valued at $188,111,000 after acquiring an additional 1,283,876 shares during the period. Cibc World Market Inc. raised its position in shares of Teck Resources by 26.1% in 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 acquiring an additional 989,612 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in Teck Resources by 55.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,506,541 shares of the basic materials company's stock valued at $120,093,000 after purchasing an additional 892,105 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company's stock.

Teck Resources Stock Up 1.1 %

TECK stock traded up $0.50 during trading on Tuesday, hitting $46.63. 1,772,252 shares of the company's stock traded hands, compared to its average volume of 3,350,053. The firm has a market capitalization of $23.89 billion, a P/E ratio of 69.88 and a beta of 1.03. The business has a fifty day simple moving average of $48.71 and a two-hundred day simple moving average of $48.34. Teck Resources Limited has a 1 year low of $36.50 and a 1 year high of $55.13. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its quarterly earnings data 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. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.09 billion. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. The company's quarterly revenue was down 20.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.57 EPS. Sell-side analysts anticipate that Teck Resources Limited will post 1.82 EPS for the current year.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a $0.0895 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Friday, December 13th. Teck Resources's dividend payout ratio (DPR) is 56.06%.

Analysts Set New Price Targets

Several research firms have recently weighed in on TECK. Scotiabank raised their target price on Teck Resources from $78.00 to $79.00 and gave the company a "sector outperform" rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft downgraded Teck Resources from a "buy" rating to a "hold" rating and set a $50.00 price objective on the stock. in a report on Friday, October 25th. Citigroup raised Teck Resources to a "hold" rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. reduced their price target on Teck Resources from $57.00 to $55.00 and set an "overweight" rating for the company in a report on Friday, October 25th. Finally, StockNews.com upgraded shares of Teck Resources from a "sell" rating to a "hold" rating in a research report on Thursday, October 24th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Teck Resources currently has a consensus rating of "Moderate Buy" and an average target price of $65.29.

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.