TD Asset Management Inc. Raises Stock Position in Teck Resources Limited (NYSE:TECK)

TD Asset Management Inc. boosted its holdings in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 0.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,973,390 shares of the basic materials company's stock after purchasing an additional 41,081 shares during the quarter. TD Asset Management Inc. owned approximately 1.20% of Teck Resources worth $242,059,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Synergy Asset Management LLC boosted its position in shares of Teck Resources by 77.7% during the fourth quarter. Synergy Asset Management LLC now owns 16,892 shares of the basic materials company's stock worth $685,000 after acquiring an additional 7,387 shares during the last quarter. Forest Avenue Capital Management LP increased its holdings in Teck Resources by 3.7% in the 3rd quarter. Forest Avenue Capital Management LP now owns 720,920 shares of the basic materials company's stock valued at $37,661,000 after acquiring an additional 25,430 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Teck Resources in the 3rd quarter worth $1,937,000. Paloma Partners Management Co bought a new position in shares of Teck Resources during the 3rd quarter valued at about $20,896,000. Finally, FNY Investment Advisers LLC boosted its holdings in shares of Teck Resources by 709.5% during the 4th quarter. FNY Investment Advisers LLC now owns 17,000 shares of the basic materials company's stock valued at $689,000 after purchasing an additional 14,900 shares during the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

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Teck Resources Trading Down 4.8 %

Shares of Teck Resources stock traded down $1.89 during trading on Friday, hitting $37.43. The stock had a trading volume of 4,462,011 shares, compared to its average volume of 3,157,550. Teck Resources Limited has a 12 month low of $36.54 and a 12 month high of $55.13. 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 firm's fifty day simple moving average is $41.56 and its 200-day simple moving average is $44.64. The stock has a market cap of $18.84 billion, a PE ratio of 68.05 and a beta of 0.93.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $2.58 billion. As a group, sell-side analysts expect that Teck Resources Limited will post 1.53 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.0879 per share. This represents a $0.35 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date is Friday, March 14th. Teck Resources's payout ratio is currently 61.82%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Bank of America lifted their target price 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. decreased their price objective on Teck Resources from $55.00 to $51.00 and set an "overweight" rating on the stock in a report on Thursday, January 16th. Raymond James lowered their target price on Teck Resources from $75.00 to $70.00 and set an "outperform" rating for the company in a research report on Wednesday, January 22nd. Finally, National Bank Financial cut shares of Teck Resources from an "outperform" rating to a "sector perform" rating in a research report on Tuesday, December 10th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus 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.