Charles Schwab Investment Management Inc. Has $72.89 Million Stock Holdings in Teck Resources Limited (NYSE:TECK)

Charles Schwab Investment Management Inc. grew its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 14.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,394,120 shares of the basic materials company’s stock after acquiring an additional 173,130 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.28% of Teck Resources worth $72,893,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Quent Capital LLC acquired a new stake in Teck Resources in the 1st quarter valued at $119,000. O Shaughnessy Asset Management LLC increased its position in shares of Teck Resources by 12.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 5,896 shares of the basic materials company’s stock valued at $270,000 after acquiring an additional 637 shares during the last quarter. Virtu Financial LLC bought a new stake in Teck Resources during the first quarter worth about $375,000. Atria Investments Inc acquired a new position in Teck Resources during the first quarter valued at approximately $1,141,000. Finally, Cetera Investment Advisers grew its stake in Teck Resources by 486.8% in the first quarter. Cetera Investment Advisers now owns 36,972 shares of the basic materials company’s stock valued at $1,693,000 after purchasing an additional 30,671 shares in the last quarter. 78.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

TECK has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft cut Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a research note on Friday, October 25th. StockNews.com upgraded shares of Teck Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Citigroup upgraded shares of Teck Resources to a “hold” rating in a research note on Wednesday, October 2nd. UBS Group cut shares of Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. reduced their price target on Teck Resources from $57.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Teck Resources currently has a consensus rating of “Moderate Buy” and an average price target of $65.29.

Teck Resources Trading Down 0.1 %

Shares of NYSE:TECK opened at $46.24 on Friday. The stock has a market cap of $23.26 billion, a PE ratio of 70.05 and a beta of 1.04. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. Teck Resources Limited has a 12-month low of $35.60 and a 12-month high of $55.13. The business has a 50 day moving average of $48.87 and a 200-day moving average of $48.48.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.24. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.09 billion. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The firm’s quarterly revenue was down 20.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 EPS. As a group, equities research analysts forecast that Teck Resources Limited will post 1.83 earnings per share for the current year.

Teck Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $0.0895 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Friday, December 13th. Teck Resources’s dividend payout ratio is 56.06%.

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.