Teck Resources Ltd (NYSE:TECK) Position Decreased by Allianz Asset Management GmbH

Allianz Asset Management GmbH trimmed its holdings in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 0.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,500,108 shares of the basic materials company's stock after selling 13,196 shares during the period. Allianz Asset Management GmbH owned 0.30% of Teck Resources worth $54,636,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Teck Resources in the 4th quarter worth about $470,101,000. Principal Financial Group Inc. increased its holdings in shares of Teck Resources by 56.9% in the 1st quarter. Principal Financial Group Inc. now owns 11,530,742 shares of the basic materials company's stock worth $419,970,000 after acquiring an additional 4,180,623 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Teck Resources in the 4th quarter worth about $65,197,000. Carrhae Capital LLP acquired a new stake in shares of Teck Resources in the 1st quarter worth about $46,478,000. Finally, FMR LLC increased its holdings in shares of Teck Resources by 29.7% in the 4th quarter. FMR LLC now owns 4,715,144 shares of the basic materials company's stock worth $191,133,000 after acquiring an additional 1,080,714 shares during the period. 78.06% of the stock is owned by institutional investors and hedge funds.

Teck Resources Price Performance

TECK traded down $2.13 on Friday, reaching $33.00. The company had a trading volume of 12,487,636 shares, compared to its average volume of 4,345,001. The company has a fifty day moving average of $38.17 and a 200-day moving average of $38.56. The company has a market capitalization of $15.94 billion, a P/E ratio of 86.83, a PEG ratio of 0.52 and a beta of 0.80. The company has a current ratio of 3.36, a quick ratio of 2.57 and a debt-to-equity ratio of 0.15. Teck Resources Ltd has a one year low of $28.32 and a one year high of $54.13.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its quarterly earnings data on Thursday, July 24th. The basic materials company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.07. Teck Resources had a net margin of 2.51% and a return on equity of 3.87%. The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same quarter last year, the firm posted $0.79 EPS. The business's revenue for the quarter was up 12.3% on a year-over-year basis. As a group, equities research analysts anticipate that Teck Resources Ltd will post 1.53 earnings per share for the current year.

Teck Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be given a dividend of $0.0918 per share. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. The ex-dividend date is Monday, September 15th. This represents a $0.37 annualized dividend and a dividend yield of 1.11%. Teck Resources's dividend payout ratio (DPR) is 94.74%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TECK. Wall Street Zen raised shares of Teck Resources from a "sell" rating to a "hold" rating in a report on Saturday. Stifel Canada raised shares of Teck Resources to a "hold" rating in a report on Tuesday, July 8th. Stifel Nicolaus began coverage on shares of Teck Resources in a report on Wednesday, July 9th. They issued a "hold" rating on the stock. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $41.00 price objective (down previously from $46.00) on shares of Teck Resources in a report on Friday. Finally, National Bank Financial upgraded shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. Twelve investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $61.63.

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.