Teck Resources Limited (NYSE:TECK) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. increased its stake in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 0.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,316,132 shares of the basic materials company's stock after acquiring an additional 58,985 shares during the quarter. Vanguard Group Inc. owned about 3.87% of Teck Resources worth $783,153,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Stonebridge Financial Group LLC acquired a new stake in shares of Teck Resources during the fourth quarter worth about $25,000. Global Trust Asset Management LLC purchased a new position in Teck Resources during the 4th quarter worth approximately $27,000. FPC Investment Advisory Inc. acquired a new position in Teck Resources during the fourth quarter worth approximately $27,000. Community Bank N.A. purchased a new stake in Teck Resources in the fourth quarter valued at approximately $33,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Teck Resources in the third quarter valued at approximately $40,000. 78.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TECK has been the subject of several research reports. Bank of America upped their price target on shares of Teck Resources from $62.00 to $64.00 and gave the company a "buy" rating in a research report on Monday, March 10th. JPMorgan Chase & Co. reduced their target price on shares of Teck Resources from $55.00 to $51.00 and set an "overweight" rating for the company in a report on Thursday, January 16th. National Bank Financial downgraded shares of Teck Resources from an "outperform" rating to a "sector perform" rating in a research note on Tuesday, December 10th. Finally, Raymond James dropped their price target on Teck Resources from $75.00 to $70.00 and set an "outperform" rating on the stock in a research report on Wednesday, January 22nd. Six 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's stock. Based on data from MarketBeat.com, Teck Resources currently has an average rating of "Moderate Buy" and an average target price of $65.22.

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Teck Resources Price Performance

TECK stock traded down $3.54 on Thursday, reaching $34.07. 6,735,504 shares of the company's stock were exchanged, compared to its average volume of 3,149,243. The stock has a fifty day moving average of $40.99 and a 200-day moving average of $44.38. The firm has a market cap of $16.86 billion, a PE ratio of 61.94 and a beta of 0.93. 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 twelve month low of $33.82 and a twelve month high of $55.13.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $2.58 billion. As a group, equities analysts predict that Teck Resources Limited will post 1.53 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $0.0879 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a yield of 1.03%. Teck Resources's dividend payout ratio (DPR) is presently 61.82%.

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.