Premier Fund Managers Ltd Purchases 5,000 Shares of Teck Resources Limited (NYSE:TECK)

Premier Fund Managers Ltd lifted its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 4.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 109,000 shares of the basic materials company’s stock after buying an additional 5,000 shares during the period. Premier Fund Managers Ltd’s holdings in Teck Resources were worth $5,716,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Teck Resources by 1.8% in the first quarter. Vanguard Group Inc. now owns 16,721,130 shares of the basic materials company’s stock worth $765,493,000 after acquiring an additional 290,034 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Teck Resources by 2.4% during the 1st quarter. Janus Henderson Group PLC now owns 8,604,605 shares of the basic materials company’s stock worth $394,178,000 after buying an additional 203,607 shares during the period. Principal Financial Group Inc. lifted its stake in Teck Resources by 21.7% in 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 buying an additional 1,326,241 shares in the last quarter. CIBC Asset Management Inc lifted its stake in Teck Resources by 2.6% in 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 buying an additional 165,759 shares in the last quarter. Finally, Mackenzie Financial Corp increased its position in shares of Teck Resources by 10.3% during the second quarter. Mackenzie Financial Corp now owns 5,855,836 shares of the basic materials company’s stock worth $280,655,000 after acquiring an additional 546,801 shares in the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Stock Up 2.1 %

Shares of TECK stock opened at $47.14 on Wednesday. Teck Resources Limited has a 52-week low of $35.25 and a 52-week high of $55.13. The stock has a market cap of $23.71 billion, a price-to-earnings ratio of 71.42 and a beta of 1.04. The firm’s 50-day moving average is $48.83 and its 200-day moving average is $48.63. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.24. The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The business’s revenue was down 20.6% on a year-over-year basis. During the same period last year, the firm posted $0.57 earnings per share. Sell-side analysts predict that Teck Resources Limited will post 1.84 EPS for the current year.

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.0895 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.76%. Teck Resources’s dividend payout ratio is currently 56.06%.

Analyst Ratings Changes

Several research firms recently commented on TECK. Citigroup raised shares of Teck Resources to a “hold” rating in a research report on Wednesday, October 2nd. Benchmark reaffirmed a “buy” rating and set a $55.00 price objective on shares of Teck Resources in a research report on Thursday, July 25th. JPMorgan Chase & Co. dropped their target price on Teck Resources from $57.00 to $55.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. UBS Group downgraded Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. Finally, Scotiabank lifted their price objective on shares of Teck Resources from $78.00 to $79.00 and gave the company a “sector outperform” rating in a report on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.29.

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.