Teck Resources Limited (NYSE:TECK) Shares Bought by TD Asset Management Inc.

TD Asset Management Inc. grew its holdings in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 0.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,973,390 shares of the basic materials company’s stock after buying an additional 41,081 shares during the period. TD Asset Management Inc. owned 1.20% of Teck Resources worth $242,059,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Swedbank AB purchased a new stake in Teck Resources during the 4th quarter valued at about $103,878,000. FMR LLC grew its position in shares of Teck Resources by 72.8% in the third 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 in the last quarter. AMF Tjanstepension AB increased its holdings in shares of Teck Resources by 32.2% in the fourth quarter. AMF Tjanstepension AB now owns 6,020,023 shares of the basic materials company’s stock valued at $244,252,000 after purchasing an additional 1,467,516 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new position in Teck Resources during the third quarter worth approximately $70,549,000. Finally, Principal Financial Group Inc. boosted its stake in Teck Resources by 21.7% during the third 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. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on TECK shares. Raymond James cut their target price on Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, January 22nd. National Bank Financial cut shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. 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 research note on Thursday, January 16th. Finally, Bank of America increased their price target on shares of Teck Resources from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Teck Resources presently has a consensus rating of “Moderate Buy” and an average price target of $65.22.

Teck Resources Stock Performance

Shares of Teck Resources stock opened at $41.89 on Tuesday. The stock has a market capitalization of $21.08 billion, a price-to-earnings ratio of 76.16 and a beta of 0.93. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. The business has a 50-day moving average of $41.78 and a 200 day moving average of $44.76. Teck Resources Limited has a 12 month low of $36.54 and a 12 month high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.33 EPS for the quarter, beating 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 net margin of 2.96% and a return on equity of 4.59%. As a group, sell-side analysts forecast that Teck Resources Limited will post 1.53 earnings per share for the current year.

Teck Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.0879 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.35 annualized dividend and a dividend yield of 0.84%. Teck Resources’s dividend payout ratio (DPR) is 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.