ABN Amro Investment Solutions Has $24.47 Million Holdings in Teck Resources Ltd $TECK

Key Points

• ABN Amro Investment Solutions increased its stake in Teck Resources by 156.4% in the fourth quarter, ending with 510,989 shares valued at about $24.47 million.
• Several other institutional investors also boosted their TECK holdings, and institutions now own 78.06% of the company’s stock.
• Wall Street sentiment is mixed but leans cautious: the stock has a Hold consensus rating with an average target price of $59.17, while Teck recently beat quarterly EPS expectations and declared a $0.125 quarterly dividend.

ABN Amro Investment Solutions lifted its holdings in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 156.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 510,989 shares of the basic materials company's stock after purchasing an additional 311,694 shares during the period. ABN Amro Investment Solutions owned 0.11% of Teck Resources worth $24,471,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TECK. AQR Capital Management LLC lifted its position in 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 during the last quarter. Jones Financial Companies Lllp lifted its position in 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in 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 during the last quarter. Marshall Wace LLP lifted its position in 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 during the last quarter. Finally, NewEdge Advisors LLC lifted its position in 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 during the last quarter. Institutional investors and hedge funds own 78.06% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TECK. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Teck Resources in a research report on Friday, May 15th. Citigroup raised shares of Teck Resources from a "neutral" rating to a "buy" rating in a research report on Monday, February 2nd. UBS Group reaffirmed a "buy" rating on shares of Teck Resources in a research report on Tuesday, January 27th. JPMorgan Chase & Co. upped their price objective on shares of Teck Resources from $45.00 to $48.00 and gave the company a "neutral" rating in a research report on Friday, May 1st. Finally, Weiss Ratings raised shares of Teck Resources from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $59.17.

Teck Resources Price Performance

Shares of Teck Resources stock opened at $61.14 on Thursday. The company has a current ratio of 2.83, a quick ratio of 2.16 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $29.47 billion, a price-to-earnings ratio of 22.39, a P/E/G ratio of 4.35 and a beta of 0.86. Teck Resources Ltd has a 1-year low of $30.98 and a 1-year high of $67.67. The firm's 50-day moving average price is $55.90 and its two-hundred day moving average price is $51.65.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its quarterly earnings data on Thursday, February 19th. The basic materials company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.39. The firm had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.28 billion. Teck Resources had a net margin of 14.91% and a return on equity of 7.94%. The company's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.45 earnings per share. On average, equities analysts predict that Teck Resources Ltd will post 2.68 earnings per share for the current fiscal year.

Teck Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.125 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.8%. Teck Resources's dividend payout ratio (DPR) is 13.55%.

Teck Resources Company 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.

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