RWC Asset Management LLP Makes New $12.96 Million Investment in Teck Resources Limited (NYSE:TECK)

RWC Asset Management LLP purchased a new stake in Teck Resources Limited (NYSE:TECK) (TSE:TECK) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 319,847 shares of the basic materials company’s stock, valued at approximately $12,963,000. RWC Asset Management LLP owned 0.06% of Teck Resources at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its stake in shares of Teck Resources by 21.7% in 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 buying an additional 1,326,241 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Teck Resources by 2.0% in the fourth quarter. CIBC Asset Management Inc now owns 6,623,228 shares of the basic materials company’s stock worth $269,956,000 after acquiring an additional 127,348 shares during the period. AMF Tjanstepension AB increased its position in shares of Teck Resources by 3.9% during the third quarter. AMF Tjanstepension AB now owns 4,552,507 shares of the basic materials company’s stock valued at $238,055,000 after buying an additional 169,476 shares during the period. FMR LLC boosted its holdings in Teck Resources by 72.8% in the 3rd quarter. FMR LLC now owns 3,634,430 shares of the basic materials company’s stock valued at $189,848,000 after purchasing an additional 1,531,563 shares during the period. Finally, Regal Partners Ltd grew its position in Teck Resources by 1.4% during the third quarter. Regal Partners Ltd now owns 2,728,980 shares of the basic materials company’s stock worth $142,562,000 after buying an additional 38,949 shares in the last quarter. 78.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. UBS Group lowered shares of Teck Resources from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Raymond James lowered their price target on Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, January 22nd. Finally, National Bank Financial lowered Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Teck Resources has an average rating of “Moderate Buy” and a consensus target price of $65.38.

Teck Resources Stock Down 5.2 %

Shares of TECK stock opened at $41.12 on Monday. 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 Limited has a twelve month low of $37.30 and a twelve month high of $55.13. The stock has a 50 day moving average of $41.95 and a 200 day moving average of $45.73. The stock has a market cap of $20.51 billion, a P/E ratio of 74.76 and a beta of 1.02.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2.58 billion. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. As a group, sell-side analysts expect 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. Investors of record on Friday, March 14th will be issued a $0.0879 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a yield of 0.86%. Teck Resources’s payout ratio is 63.64%.

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.