M&G Plc Makes New $26.50 Million Investment in Teck Resources Limited (NYSE:TECK)

M&G Plc acquired a new stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 576,172 shares of the basic materials company’s stock, valued at approximately $26,504,000. M&G Plc owned approximately 0.11% of Teck Resources as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Ninety One SA PTY Ltd boosted its position in shares of Teck Resources by 45.1% during the fourth quarter. Ninety One SA PTY Ltd now owns 147,093 shares of the basic materials company’s stock worth $6,236,000 after acquiring an additional 45,750 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of Teck Resources by 45.7% during the fourth quarter. Mackenzie Financial Corp now owns 6,632,418 shares of the basic materials company’s stock valued at $280,491,000 after purchasing an additional 2,080,295 shares in the last quarter. AGF Management Ltd. grew its position in shares of Teck Resources by 13.4% during the fourth quarter. AGF Management Ltd. now owns 136,376 shares of the basic materials company’s stock valued at $5,785,000 after purchasing an additional 16,141 shares in the last quarter. Douglas Lane & Associates LLC increased its holdings in shares of Teck Resources by 54.3% in the fourth quarter. Douglas Lane & Associates LLC now owns 663,366 shares of the basic materials company’s stock worth $28,040,000 after purchasing an additional 233,361 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Teck Resources by 37.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,935,979 shares of the basic materials company’s stock worth $81,966,000 after buying an additional 526,611 shares in the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Teck Resources Trading Up 1.8 %

Teck Resources stock traded up $0.81 during midday trading on Friday, reaching $46.78. The stock had a trading volume of 3,367,959 shares, compared to its average volume of 2,676,544. The company has a quick ratio of 0.86, a current ratio of 1.49 and a debt-to-equity ratio of 0.20. The firm has a market cap of $23.90 billion, a price-to-earnings ratio of 20.70, a price-to-earnings-growth ratio of 10.31 and a beta of 1.05. Teck Resources Limited has a 52-week low of $34.38 and a 52-week high of $55.13. The company has a fifty day moving average of $49.71 and a 200 day moving average of $45.21.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.31). Teck Resources had a return on equity of 7.52% and a net margin of 10.59%. The business had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $2.99 billion. On average, analysts anticipate that Teck Resources Limited will post 2.15 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 5.34%. This is an increase from Teck Resources’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Friday, September 13th. Teck Resources’s dividend payout ratio (DPR) is 15.93%.

Analyst Ratings Changes

A number of analysts have issued reports on TECK shares. Eight Capital downgraded Teck Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 11th. BMO Capital Markets started coverage on shares of Teck Resources in a research report on Monday, July 15th. They issued an “outperform” rating on the stock. CIBC increased their price objective on shares of Teck Resources from $70.00 to $80.00 and gave the company an “outperformer” rating in a research report on Friday, July 12th. Morgan Stanley lifted their price objective on shares of Teck Resources from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, June 21st. Finally, JPMorgan Chase & Co. upped their target price on shares of Teck Resources from $44.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $62.33.

Teck Resources Company 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.