Intech Investment Management LLC increased its stake in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 20.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 98,145 shares of the basic materials company's stock after purchasing an additional 16,981 shares during the period. Intech Investment Management LLC's holdings in Teck Resources were worth $5,132,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Eastern Bank acquired a new stake in Teck Resources in the 3rd quarter worth about $39,000. Headlands Technologies LLC acquired a new stake in shares of Teck Resources in the second quarter worth approximately $38,000. Bruce G. Allen Investments LLC boosted its position in shares of Teck Resources by 77.4% in the third quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company's stock worth $46,000 after acquiring an additional 383 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in Teck Resources by 69.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company's stock valued at $52,000 after purchasing an additional 409 shares during the period. Finally, Blue Trust Inc. raised its holdings in shares of Teck Resources by 583.1% in the 2nd quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company's stock worth $48,000 after purchasing an additional 898 shares during the period. Institutional investors and hedge funds own 78.06% of the company's stock.
Teck Resources Stock Performance
Shares of TECK stock traded down $0.40 during trading hours on Friday, reaching $46.81. 1,785,738 shares of the company's stock were exchanged, compared to its average volume of 2,840,767. The business has a fifty day moving average price of $48.90 and a 200-day moving average price of $48.58. The stock has a market capitalization of $23.55 billion, a P/E ratio of 70.92 and a beta of 1.04. 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 Limited has a fifty-two week low of $35.25 and a fifty-two week high of $55.13.
Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.60 EPS for the quarter, topping 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 analysts' expectations of $2.09 billion. During the same quarter last year, the company earned $0.57 earnings per share. The company's revenue for the quarter was down 20.6% compared to the same quarter last year. Analysts predict that Teck Resources Limited will post 1.86 EPS for the current fiscal year.
Teck Resources Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a $0.0895 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Friday, December 13th. Teck Resources's dividend payout ratio is presently 56.06%.
Wall Street Analysts Forecast Growth
TECK has been the subject of several recent research reports. Scotiabank increased their price objective on shares of Teck Resources from $78.00 to $79.00 and gave the company a "sector outperform" rating in a research report on Tuesday, October 8th. Citigroup raised shares of Teck Resources to a "hold" rating in a research note on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft cut shares of Teck Resources from a "buy" rating to a "hold" rating and set a $50.00 price objective for the company. in a research report on Friday, October 25th. Paradigm Capital raised Teck Resources to a "moderate buy" rating in a research report on Friday, July 26th. Finally, 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. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Teck Resources has a consensus rating of "Moderate Buy" and a consensus price target of $65.29.
Get Our Latest Analysis on TECK
Teck Resources 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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