Teck Resources Limited (NYSE:TECK) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its position in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,415,536 shares of the basic materials company's stock after acquiring an additional 21,416 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.28% of Teck Resources worth $57,363,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in Teck Resources by 21.7% in the third quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company's stock valued at $388,507,000 after acquiring an additional 1,326,241 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Teck Resources by 2.0% during the fourth quarter. CIBC Asset Management Inc now owns 6,623,228 shares of the basic materials company's stock worth $269,956,000 after purchasing an additional 127,348 shares in the last quarter. FMR LLC raised its holdings in Teck Resources by 72.8% during the third quarter. FMR LLC now owns 3,634,430 shares of the basic materials company's stock worth $189,848,000 after purchasing an additional 1,531,563 shares in the last quarter. Regal Partners Ltd raised its holdings in Teck Resources by 1.4% during the third quarter. Regal Partners Ltd now owns 2,728,980 shares of the basic materials company's stock worth $142,562,000 after purchasing an additional 38,949 shares in the last quarter. Finally, Swedbank AB acquired a new stake in Teck Resources during the fourth quarter worth approximately $103,878,000. Institutional investors and hedge funds own 78.06% of the company's stock.

Teck Resources Stock Performance

NYSE:TECK opened at $40.03 on Thursday. The firm has a market cap of $19.88 billion, a price-to-earnings ratio of 72.78 and a beta of 0.93. Teck Resources Limited has a 1-year low of $36.54 and a 1-year high of $55.13. The firm's fifty day moving average price is $41.70 and its 200 day moving average price is $45.09. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35.

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

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.0879 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.35 annualized dividend and a dividend yield of 0.88%. Teck Resources's payout ratio is currently 61.82%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. National Bank Financial cut shares of Teck Resources from an "outperform" rating to a "sector perform" rating in a report on Tuesday, December 10th. Raymond James cut their price objective on shares of Teck Resources from $75.00 to $70.00 and set an "outperform" rating on the stock in a report on Wednesday, January 22nd. Bank of America raised their price objective on shares of Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a report on Monday. Finally, JPMorgan Chase & Co. cut their target price on shares of Teck Resources from $55.00 to $51.00 and set an "overweight" rating on the stock in a report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $65.22.

About Teck Resources

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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