Geode Capital Management LLC raised its holdings in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 32.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,750,146 shares of the basic materials company's stock after buying an additional 671,357 shares during the period. Geode Capital Management LLC owned about 0.55% of Teck Resources worth $114,190,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in TECK. Stonebridge Financial Group LLC purchased a new position in Teck Resources during the fourth quarter valued at $25,000. FPC Investment Advisory Inc. purchased a new stake in Teck Resources in the 4th quarter worth approximately $27,000. Global Trust Asset Management LLC bought a new stake in Teck Resources during the 4th quarter worth approximately $27,000. Wilmington Savings Fund Society FSB purchased a new position in Teck Resources during the third quarter valued at approximately $40,000. Finally, Community Bank N.A. bought a new position in shares of Teck Resources in the fourth quarter worth approximately $33,000. 78.06% of the stock is currently owned by institutional investors.
Teck Resources Trading Up 1.7 %
Shares of TECK traded up $0.59 during trading hours on Monday, reaching $34.19. 358,546 shares of the company traded hands, compared to its average volume of 3,186,299. The stock's fifty day moving average price is $39.35 and its 200 day moving average price is $43.35. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The firm has a market cap of $16.92 billion, a price-to-earnings ratio of 62.16 and a beta of 0.81. Teck Resources Limited has a 12-month low of $28.32 and a 12-month high of $55.13.
Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.07. The company had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $2.58 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. Sell-side analysts forecast that Teck Resources Limited will post 1.53 earnings per share for the current year.
Teck Resources Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a $0.0879 dividend. This represents a $0.35 annualized dividend and a dividend yield of 1.03%. The ex-dividend date was Friday, March 14th. Teck Resources's payout ratio is 61.82%.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the stock. Raymond James lowered their target price on shares of Teck Resources from $75.00 to $70.00 and set an "outperform" rating on the stock in a research note on Wednesday, January 22nd. Bank of America boosted their price target on Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a report on Monday, March 10th. JPMorgan Chase & Co. cut their price objective on shares of Teck Resources from $50.00 to $41.00 and set an "overweight" rating for the company in a report on Thursday. National Bankshares reissued a "sector perform" rating on shares of Teck Resources in a report on Wednesday, April 2nd. Finally, Desjardins initiated coverage on shares of Teck Resources in a research report on Friday, April 4th. They set a "buy" rating for the company. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $64.11.
Read Our Latest Analysis on TECK
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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