Teck Resources Limited (NYSE:TECK) Shares Bought by First Hawaiian Bank

First Hawaiian Bank raised its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 57.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 21,918 shares of the basic materials company’s stock after acquiring an additional 7,969 shares during the quarter. First Hawaiian Bank’s holdings in Teck Resources were worth $888,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. FMR LLC grew its stake in shares of Teck Resources by 72.8% during the 3rd 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 during the period. Zurich Insurance Group Ltd FI acquired a new position in shares of Teck Resources during the 3rd quarter worth $70,549,000. Principal Financial Group Inc. grew its stake in shares of Teck Resources by 21.7% during the 3rd quarter. Principal Financial Group Inc. now owns 7,429,981 shares of the basic materials company’s stock worth $388,507,000 after purchasing an additional 1,326,241 shares during the period. Holocene Advisors LP grew its stake in shares of Teck Resources by 152.7% during the 3rd quarter. Holocene Advisors LP now owns 2,070,377 shares of the basic materials company’s stock worth $108,156,000 after purchasing an additional 1,251,203 shares during the period. Finally, Canada Pension Plan Investment Board grew its stake in shares of Teck Resources by 55.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,506,541 shares of the basic materials company’s stock worth $120,093,000 after purchasing an additional 892,105 shares during the period. 78.06% of the stock is owned by institutional investors and hedge funds.

Teck Resources Stock Up 1.4 %

TECK opened at $42.03 on Friday. The firm has a 50 day moving average price of $44.46 and a 200 day moving average price of $46.89. The company has a market cap of $21.07 billion, a PE ratio of 63.68 and a beta of 1.05. Teck Resources Limited has a 1 year low of $36.50 and a 1 year high of $55.13. 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 (NYSE:TECK) (TSE:TECK) last posted its earnings results on Thursday, October 24th. The basic materials company reported $0.60 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the prior year, the company earned $0.57 EPS. The company’s revenue was down 20.6% on a year-over-year basis. Sell-side analysts expect that Teck Resources Limited will post 1.81 earnings per share for the current year.

Teck Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were given a $0.0895 dividend. This represents a $0.36 annualized dividend and a yield of 0.85%. The ex-dividend date was Friday, December 13th. Teck Resources’s dividend payout ratio (DPR) is 56.06%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on TECK shares. National Bank Financial cut shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 10th. StockNews.com upgraded shares of Teck Resources from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Scotiabank increased their price objective 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. Citigroup upgraded shares of Teck Resources to a “hold” rating in a report on Wednesday, October 2nd. Finally, UBS Group lowered shares of Teck Resources from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Six equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $65.29.

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.