Wellington Management Group LLP Has $5.45 Million Holdings in Teck Resources Limited (NYSE:TECK)

Wellington Management Group LLP grew its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 70.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 104,301 shares of the basic materials company’s stock after buying an additional 42,982 shares during the quarter. Wellington Management Group LLP’s holdings in Teck Resources were worth $5,452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Headlands Technologies LLC acquired a new stake in Teck Resources in the second quarter valued at approximately $38,000. Eastern Bank bought a new position in shares of Teck Resources during the 3rd quarter valued at $39,000. Bruce G. Allen Investments LLC lifted its stake in shares of Teck Resources by 77.4% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 878 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 383 shares during the last quarter. Blue Trust Inc. boosted its holdings in Teck Resources by 583.1% in the second quarter. Blue Trust Inc. now owns 1,052 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 898 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its position in Teck Resources by 69.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 996 shares of the basic materials company’s stock worth $52,000 after buying an additional 409 shares during the last quarter. Institutional investors own 78.06% of the company’s stock.

Teck Resources Price Performance

Shares of TECK stock opened at $42.73 on Tuesday. Teck Resources Limited has a 12 month low of $36.50 and a 12 month high of $55.13. The company has a market capitalization of $21.89 billion, a P/E ratio of 64.74 and a beta of 1.03. The stock has a 50 day moving average of $47.40 and a two-hundred day moving average of $47.85. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.24. Teck Resources had a net margin of 3.32% and a return on equity of 6.37%. The firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the previous year, the company earned $0.57 earnings per share. The business’s revenue was down 20.6% compared to the same quarter last year. As a group, equities analysts expect that Teck Resources Limited will post 1.81 EPS 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 $0.0895 dividend. This represents a $0.36 annualized dividend and a yield of 0.84%. The ex-dividend date is Friday, December 13th. Teck Resources’s dividend payout ratio (DPR) is presently 56.06%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TECK. StockNews.com raised Teck Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. decreased their target price on Teck Resources from $57.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft lowered shares of Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a research report on Friday, October 25th. UBS Group downgraded shares of Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Finally, Scotiabank lifted their target price on shares of Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a report on Tuesday, October 8th. Six equities 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. Based on data from MarketBeat.com, Teck Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.29.

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.