Teck Resources Limited (NYSE:TECK) Stock Position Boosted by Van ECK Associates Corp

Van ECK Associates Corp grew its stake in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 27.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 411,499 shares of the basic materials company’s stock after buying an additional 89,884 shares during the quarter. Van ECK Associates Corp owned about 0.08% of Teck Resources worth $17,402,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Mackenzie Financial Corp raised its holdings in Teck Resources by 45.7% during the fourth quarter. Mackenzie Financial Corp now owns 6,632,418 shares of the basic materials company’s stock worth $280,491,000 after purchasing an additional 2,080,295 shares in the last quarter. Boston Partners lifted its holdings in shares of Teck Resources by 23.3% in the third quarter. Boston Partners now owns 8,449,403 shares of the basic materials company’s stock valued at $384,364,000 after buying an additional 1,596,232 shares during the period. PointState Capital LP boosted its stake in Teck Resources by 546.1% during the third quarter. PointState Capital LP now owns 1,755,731 shares of the basic materials company’s stock valued at $75,654,000 after buying an additional 1,483,974 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its holdings in Teck Resources by 273.5% during the third quarter. Schonfeld Strategic Advisors LLC now owns 1,191,700 shares of the basic materials company’s stock worth $51,350,000 after acquiring an additional 872,672 shares during the period. Finally, ANTIPODES PARTNERS Ltd raised its position in Teck Resources by 41.7% in the third quarter. ANTIPODES PARTNERS Ltd now owns 2,598,866 shares of the basic materials company’s stock worth $110,451,000 after acquiring an additional 765,008 shares in the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TECK has been the subject of several research reports. Morgan Stanley restated an “overweight” rating and set a $55.00 price objective on shares of Teck Resources in a research report on Thursday, April 11th. JPMorgan Chase & Co. lifted their price target on shares of Teck Resources from $44.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. UBS Group assumed coverage on Teck Resources in a research report on Tuesday, January 16th. They set a “buy” rating for the company. Finally, Benchmark lifted their target price on Teck Resources from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $57.86.

Teck Resources Stock Performance

Shares of Teck Resources stock opened at $48.39 on Thursday. Teck Resources Limited has a 12 month low of $34.38 and a 12 month high of $51.65. The company has a quick ratio of 0.86, a current ratio of 1.49 and a debt-to-equity ratio of 0.20. The stock has a market cap of $24.76 billion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 8.82 and a beta of 1.12. The business has a fifty day simple moving average of $44.62 and a 200-day simple moving average of $40.60.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.01. Teck Resources had a return on equity of 7.52% and a net margin of 10.59%. The firm had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.11 billion. On average, sell-side analysts anticipate that Teck Resources Limited will post 2.7 EPS for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be issued a dividend of $0.0911 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Monday, June 17th. Teck Resources’s dividend payout ratio is currently 16.37%.

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.