Teck Resources Limited (NYSE:TECK) Shares Acquired by TD Asset Management Inc.

TD Asset Management Inc. boosted its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,973,390 shares of the basic materials company’s stock after acquiring an additional 41,081 shares during the quarter. TD Asset Management Inc.’s holdings in Teck Resources were worth $242,059,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Swedbank AB purchased a new stake in shares of Teck Resources in the 4th quarter valued at approximately $103,878,000. FMR LLC grew its stake in shares of Teck Resources by 72.8% during the third quarter. FMR LLC now owns 3,634,430 shares of the basic materials company’s stock worth $189,848,000 after purchasing an additional 1,531,563 shares in the last quarter. AMF Tjanstepension AB increased its holdings in Teck Resources by 32.2% in the fourth quarter. AMF Tjanstepension AB now owns 6,020,023 shares of the basic materials company’s stock valued at $244,252,000 after buying an additional 1,467,516 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new position in Teck Resources in the third quarter valued at $70,549,000. Finally, Principal Financial Group Inc. raised 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. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. dropped their price objective on Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Raymond James dropped their price target on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 22nd. Bank of America raised their price objective on shares of Teck Resources from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Finally, National Bank Financial cut shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $65.22.

Teck Resources Stock Up 1.0 %

TECK stock opened at $41.89 on Tuesday. The company has a market cap of $21.08 billion, a price-to-earnings ratio of 76.16 and a beta of 0.93. The company has a fifty day moving average price of $41.78 and a 200 day moving average price of $44.76. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. Teck Resources Limited has a 12 month low of $36.54 and a 12 month high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $2.58 billion. Sell-side 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 given 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 0.84%. Teck Resources’s payout ratio is 61.82%.

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.