319,847 Shares in Teck Resources Limited (NYSE:TECK) Acquired by RWC Asset Management LLP

RWC Asset Management LLP acquired a new stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) during the fourth quarter, Holdings Channel reports. The fund acquired 319,847 shares of the basic materials company’s stock, valued at approximately $12,963,000.

Other large investors have also modified their holdings of the company. 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 worth $238,055,000 after acquiring an additional 169,476 shares during the last quarter. Creative Planning boosted its holdings in shares of Teck Resources by 14.3% during the 3rd quarter. Creative Planning now owns 43,224 shares of the basic materials company’s stock worth $2,258,000 after purchasing an additional 5,403 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Teck Resources by 178.2% during the 3rd quarter. Blue Trust Inc. now owns 2,927 shares of the basic materials company’s stock worth $140,000 after purchasing an additional 1,875 shares during the last quarter. Eastern Bank purchased a new stake in shares of Teck Resources in the third quarter valued at approximately $39,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Teck Resources in the third quarter valued at approximately $10,818,000. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Analyst Ratings Changes

TECK has been the subject of a number of recent research reports. Raymond James cut their target price on Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. cut their price objective on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. UBS Group lowered shares of Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Finally, National Bank Financial downgraded shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.38.

Teck Resources Stock Down 5.2 %

Teck Resources stock opened at $41.12 on Monday. The company has a market capitalization of $20.51 billion, a PE ratio of 74.76 and a beta of 1.02. 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 Limited has a fifty-two week low of $37.30 and a fifty-two week high of $55.13. The firm has a 50 day moving average price of $41.95 and a 200 day moving average price of $45.73.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. Research analysts expect that Teck Resources Limited will post 1.53 earnings per share for the current year.

Teck Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.0879 per share. The ex-dividend date is Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a yield of 0.86%. Teck Resources’s payout ratio is currently 63.64%.

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.