Teck Resources Limited (NYSE:TECK) Shares Bought by Ninety One SA PTY Ltd

Ninety One SA PTY Ltd raised its holdings in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 45.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 147,093 shares of the basic materials company’s stock after acquiring an additional 45,750 shares during the quarter. Ninety One SA PTY Ltd’s holdings in Teck Resources were worth $6,236,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Teck Resources by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 15,973,504 shares of the basic materials company’s stock worth $688,298,000 after buying an additional 224,658 shares during the last quarter. Boston Partners raised its stake in shares of Teck Resources by 23.3% during the 3rd quarter. Boston Partners now owns 8,449,403 shares of the basic materials company’s stock worth $384,364,000 after buying an additional 1,596,232 shares during the last quarter. Norges Bank purchased a new stake in Teck Resources during the 4th quarter worth about $291,283,000. Mackenzie Financial Corp increased its position in Teck Resources by 45.7% during the 4th quarter. Mackenzie Financial Corp now owns 6,632,418 shares of the basic materials company’s stock worth $280,491,000 after purchasing an additional 2,080,295 shares in the last quarter. Finally, CIBC Asset Management Inc increased its position in Teck Resources by 1.6% during the 3rd quarter. CIBC Asset Management Inc now owns 6,214,160 shares of the basic materials company’s stock worth $268,287,000 after purchasing an additional 98,176 shares in the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Benchmark lifted their price objective on Teck Resources from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. UBS Group initiated coverage on Teck Resources in a research report on Tuesday, January 16th. They set a “buy” rating for the company. JPMorgan Chase & Co. lifted their price target on Teck Resources from $44.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Morgan Stanley restated an “overweight” rating and issued a $55.00 price target on shares of Teck Resources in a report on Thursday, April 11th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Teck Resources currently has an average rating of “Moderate Buy” and a consensus price target of $65.04.

Teck Resources Trading Up 1.2 %

Shares of NYSE:TECK traded up $0.57 during trading on Thursday, reaching $47.77. 2,085,822 shares of the stock were exchanged, compared to its average volume of 3,951,040. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.60 and a current ratio of 1.10. Teck Resources Limited has a 12-month low of $34.38 and a 12-month high of $50.46. The firm has a market cap of $24.39 billion, a price-to-earnings ratio of 14.05, a price-to-earnings-growth ratio of 6.49 and a beta of 1.15. The firm’s 50-day moving average price is $42.60 and its 200 day moving average price is $40.07.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its earnings results on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.01. Teck Resources had a return on equity of 9.67% and a net margin of 16.21%. The business had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $3.11 billion. On average, sell-side analysts anticipate that Teck Resources Limited will post 3.51 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a dividend of $0.0925 per share. This represents a $0.37 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend was Thursday, March 14th. Teck Resources’s payout ratio is currently 10.79%.

Teck Resources 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.