Vontobel Holding Ltd. Increases Stake in Teck Resources Limited (NYSE:TECK)

Vontobel Holding Ltd. increased its position in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 8.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 87,903 shares of the basic materials company's stock after buying an additional 6,800 shares during the period. Vontobel Holding Ltd.'s holdings in Teck Resources were worth $3,559,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TECK. Principal Financial Group Inc. boosted its position in Teck Resources by 21.7% during 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 purchasing an additional 1,326,241 shares in the last quarter. CIBC Asset Management Inc boosted its position in Teck Resources by 2.6% during the third quarter. CIBC Asset Management Inc now owns 6,495,880 shares of the basic materials company's stock valued at $341,337,000 after purchasing an additional 165,759 shares in the last quarter. AMF Tjanstepension AB boosted its position in Teck Resources by 3.9% during the third quarter. AMF Tjanstepension AB now owns 4,552,507 shares of the basic materials company's stock valued at $238,055,000 after purchasing an additional 169,476 shares in the last quarter. FMR LLC boosted its position 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 valued at $189,848,000 after purchasing an additional 1,531,563 shares in the last quarter. Finally, Regal Partners Ltd boosted its position 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 valued at $142,562,000 after purchasing an additional 38,949 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. StockNews.com raised Teck Resources from a "sell" rating to a "hold" rating in a research report on Thursday, October 24th. Raymond James dropped their price objective 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. UBS Group downgraded Teck Resources from a "buy" rating to a "neutral" rating in a report on Monday, November 11th. JPMorgan Chase & Co. lowered their price target on Teck Resources from $55.00 to $51.00 and set an "overweight" rating for the company in a report on Thursday, January 16th. Finally, National Bank Financial downgraded Teck Resources from an "outperform" rating to a "sector perform" rating in a report on Tuesday, December 10th. Six analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Teck Resources has an average rating of "Moderate Buy" and an average price target of $65.38.

Teck Resources Stock Performance

Shares of NYSE:TECK traded up $0.64 during trading on Thursday, hitting $43.34. The stock had a trading volume of 3,927,981 shares, compared to its average volume of 2,881,603. Teck Resources Limited has a 12-month low of $37.30 and a 12-month high of $55.13. The stock has a market capitalization of $21.61 billion, a price-to-earnings ratio of 65.66 and a beta of 1.02. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The stock has a 50-day simple moving average of $42.05 and a two-hundred day simple moving average of $45.75.

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 return on equity of 6.37% and a net margin of 3.32%. On average, equities research analysts expect that Teck Resources Limited will post 1.64 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.0879 dividend. This represents a $0.35 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Friday, March 14th. Teck Resources's payout ratio is 53.03%.

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.