Teck Resources Ltd $TECK Shares Acquired by Legal & General Group Plc

Legal & General Group Plc lifted its holdings in shares of Teck Resources Ltd (NYSE:TECK) (TSE:TECK) by 0.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 3,522,466 shares of the basic materials company’s stock after buying an additional 25,918 shares during the period. Legal & General Group Plc’s holdings in Teck Resources were worth $168,857,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in TECK. AQR Capital Management LLC raised its position in shares of Teck Resources by 11.1% during the 1st quarter. AQR Capital Management LLC now owns 34,705 shares of the basic materials company’s stock worth $1,264,000 after acquiring an additional 3,458 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Teck Resources by 453.0% during the 1st quarter. Jones Financial Companies Lllp now owns 9,721 shares of the basic materials company’s stock worth $354,000 after acquiring an additional 7,963 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Teck Resources by 1.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 465,861 shares of the basic materials company’s stock worth $16,971,000 after acquiring an additional 8,146 shares in the last quarter. Marshall Wace LLP raised its position in shares of Teck Resources by 189.3% during the 2nd quarter. Marshall Wace LLP now owns 218,242 shares of the basic materials company’s stock worth $8,813,000 after acquiring an additional 142,816 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in shares of Teck Resources by 4,602.9% during the 2nd quarter. NewEdge Advisors LLC now owns 8,183 shares of the basic materials company’s stock worth $330,000 after acquiring an additional 8,009 shares in the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TECK shares. Scotiabank reissued a “sector perform” rating on shares of Teck Resources in a research report on Tuesday, April 14th. Zacks Research lowered Teck Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 22nd. Benchmark lifted their price target on Teck Resources from $48.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, February 23rd. Wall Street Zen raised Teck Resources to a “buy” rating in a research report on Saturday, May 16th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Teck Resources in a research report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and thirteen have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $59.17.

Teck Resources Trading Up 0.0%

TECK opened at $65.23 on Thursday. The firm has a market cap of $31.44 billion, a price-to-earnings ratio of 23.89, a price-to-earnings-growth ratio of 4.78 and a beta of 0.86. Teck Resources Ltd has a 52 week low of $30.98 and a 52 week high of $67.67. The business’s 50 day moving average is $57.13 and its two-hundred day moving average is $52.41. The company has a quick ratio of 2.16, a current ratio of 2.83 and a debt-to-equity ratio of 0.13.

Teck Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.50 annualized dividend and a yield of 0.8%. Teck Resources’s payout ratio is 13.55%.

Teck Resources Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company’s operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.