Amundi Buys 591,600 Shares of Teck Resources Ltd $TECK

Amundi raised its position in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 71.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,424,706 shares of the basic materials company's stock after purchasing an additional 591,600 shares during the quarter. Amundi owned approximately 0.30% of Teck Resources worth $73,729,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Brown Brothers Harriman & Co. acquired a new position in Teck Resources in the fourth quarter valued at approximately $25,000. Blue Trust Inc. lifted its holdings in shares of Teck Resources by 411.8% in the first quarter. Blue Trust Inc. now owns 563 shares of the basic materials company's stock valued at $29,000 after purchasing an additional 453 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in Teck Resources by 117.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 561 shares of the basic materials company's stock worth $29,000 after acquiring an additional 303 shares during the last quarter. Oslo Pensjonsforsikring AS purchased a new position in Teck Resources during the first quarter worth about $83,000. Finally, Flagship Harbor Advisors LLC purchased a new position in shares of Teck Resources in the 4th quarter worth approximately $103,000. 78.06% of the stock is owned by institutional investors.

Teck Resources Stock Down 3.7%

Shares of NYSE:TECK opened at $60.19 on Friday. Teck Resources Ltd has a 52-week low of $30.98 and a 52-week high of $71.25. The firm has a fifty day moving average of $61.30 and a 200 day moving average of $57.83. The firm has a market capitalization of $29.07 billion, a PE ratio of 16.31, a price-to-earnings-growth ratio of 1.77 and a beta of 0.92. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.16 and a current ratio of 3.12.

Teck Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.50 annualized dividend and a yield of 0.8%. Teck Resources's payout ratio is 9.76%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. TD Securities restated a "hold" rating on shares of Teck Resources in a research report on Friday, April 24th. Zacks Research downgraded shares of Teck Resources from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Teck Resources from $46.00 to $47.00 and gave the company a "neutral" rating in a research note on Tuesday, July 28th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Teck Resources in a research report on Tuesday, July 21st. Finally, Wall Street Zen cut shares of Teck Resources from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 26th. Five equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $62.25.

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.

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