Teck Resources Limited (NYSE:TECK) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. boosted its position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 0.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,316,132 shares of the basic materials company’s stock after buying an additional 58,985 shares during the period. Vanguard Group Inc.’s holdings in Teck Resources were worth $783,153,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Stonebridge Financial Group LLC purchased a new stake in shares of Teck Resources during the fourth quarter worth approximately $25,000. FPC Investment Advisory Inc. purchased a new stake in shares of Teck Resources during the fourth quarter worth $27,000. Global Trust Asset Management LLC purchased a new stake in shares of Teck Resources during the fourth quarter worth $27,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Teck Resources in the third quarter valued at about $40,000. Finally, Community Bank N.A. purchased a new position in shares of Teck Resources in the fourth quarter worth about $33,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Wall Street Analyst Weigh In

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

Teck Resources Stock Performance

Shares of TECK stock opened at $37.43 on Friday. Teck Resources Limited has a one year low of $36.54 and a one 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. The firm’s 50 day moving average price is $41.56 and its 200-day moving average price is $44.64. The firm has a market cap of $18.52 billion, a P/E ratio of 68.05 and a beta of 0.93.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.26 by $0.07. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2.58 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. As a group, equities research analysts predict that Teck Resources Limited will post 1.53 EPS for the current year.

Teck Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 annualized dividend and a dividend yield of 0.94%. Teck Resources’s dividend payout ratio is presently 61.82%.

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.