DekaBank Deutsche Girozentrale Purchases 444,207 Shares of Teck Resources Limited (NYSE:TECK)

DekaBank Deutsche Girozentrale increased its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 71.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,065,763 shares of the basic materials company’s stock after purchasing an additional 444,207 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Teck Resources were worth $50,866,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of TECK. FIL Ltd raised its position in shares of Teck Resources by 98.8% during the 4th quarter. FIL Ltd now owns 11,937,233 shares of the basic materials company’s stock valued at $504,588,000 after purchasing an additional 5,933,226 shares during the period. Norges Bank bought a new stake in Teck Resources in the 4th quarter valued at $172,740,000. AMF Tjanstepension AB increased its holdings in Teck Resources by 846.6% in the 2nd quarter. AMF Tjanstepension AB now owns 4,383,031 shares of the basic materials company’s stock valued at $210,034,000 after acquiring an additional 3,919,984 shares during the last quarter. Asia Research & Capital Management Ltd bought a new stake in Teck Resources in the 1st quarter valued at $158,976,000. Finally, Principal Financial Group Inc. increased its holdings in Teck Resources by 115.4% in the 1st quarter. Principal Financial Group Inc. now owns 5,687,670 shares of the basic materials company’s stock valued at $260,584,000 after acquiring an additional 3,047,570 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Benchmark reiterated a “buy” rating and issued a $55.00 price target on shares of Teck Resources in a report on Thursday, July 25th. JPMorgan Chase & Co. dropped their price objective on shares of Teck Resources from $56.00 to $54.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. BMO Capital Markets assumed coverage on shares of Teck Resources in a research note on Monday, July 15th. They issued an “outperform” rating for the company. StockNews.com cut shares of Teck Resources from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. Finally, Paradigm Capital raised shares of Teck Resources to a “moderate buy” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Teck Resources has a consensus rating of “Moderate Buy” and a consensus price target of $65.00.

Teck Resources Price Performance

Shares of TECK stock opened at $46.31 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 0.77. The company has a market capitalization of $23.66 billion, a P/E ratio of 20.49 and a beta of 1.01. The company’s 50-day simple moving average is $47.10 and its two-hundred day simple moving average is $47.26. Teck Resources Limited has a one year low of $34.38 and a one year high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its earnings results on Wednesday, July 24th. The basic materials company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.32. The business had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $2.67 billion. Teck Resources had a net margin of 9.40% and a return on equity of 6.52%. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 EPS. As a group, equities analysts anticipate that Teck Resources Limited will post 2 EPS for the current year.

Teck Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 5.40%. The ex-dividend date of this dividend is Friday, September 13th. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. Teck Resources’s dividend payout ratio is presently 16.37%.

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.