Envestnet Asset Management Inc. Purchases 14,701 Shares of Teck Resources Limited (NYSE:TECK)

Envestnet Asset Management Inc. grew its position in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 559,873 shares of the basic materials company's stock after buying an additional 14,701 shares during the quarter. Envestnet Asset Management Inc. owned 0.11% of Teck Resources worth $22,692,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. increased its holdings 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 purchasing an additional 1,326,241 shares in the last quarter. State Street Corp purchased a new stake in shares of Teck Resources during the third quarter valued at $2,500,000. Wellington Management Group LLP increased its holdings in Teck Resources by 70.1% in the 3rd quarter. Wellington Management Group LLP now owns 104,301 shares of the basic materials company's stock worth $5,452,000 after buying an additional 42,982 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in Teck Resources in the 3rd quarter worth about $1,937,000. Finally, Geode Capital Management LLC lifted its stake in Teck Resources by 11.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,078,789 shares of the basic materials company's stock valued at $109,753,000 after acquiring an additional 211,856 shares during the period. Institutional investors own 78.06% of the company's stock.

Teck Resources Price Performance

Shares of TECK stock traded down $0.55 on Friday, hitting $32.90. 2,714,398 shares of the stock traded hands, compared to its average volume of 3,184,502. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. Teck Resources Limited has a 52 week low of $28.32 and a 52 week high of $55.13. The firm has a 50 day simple moving average of $38.60 and a two-hundred day simple moving average of $42.95. The firm has a market cap of $16.28 billion, a price-to-earnings ratio of 59.82 and a beta of 0.81.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced 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. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2.58 billion. As a group, equities research analysts predict that Teck Resources Limited will post 1.53 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $0.0879 per share. The ex-dividend date was Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.07%. Teck Resources's dividend payout ratio is 61.82%.

Analyst Upgrades and Downgrades

TECK has been the subject of several research reports. UBS Group reissued a "neutral" rating on shares of Teck Resources in a report on Tuesday. Veritas upgraded Teck Resources to a "hold" rating in a research note on Friday, April 11th. BMO Capital Markets initiated coverage on Teck Resources in a report on Wednesday. They issued an "outperform" rating for the company. National Bankshares reissued a "sector perform" rating on shares of Teck Resources in a report on Wednesday, April 2nd. Finally, Raymond James cut their price target 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. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Teck Resources currently has an average rating of "Moderate Buy" and an average price target of $64.11.

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.