Brandywine Financial Group acquired a new position in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 101,475 shares of the basic materials company's stock, valued at approximately $5,251,000. Teck Resources accounts for about 4.5% of Brandywine Financial Group's investment portfolio, making the stock its 13th biggest holding.
A number of other large investors have also made changes to their positions in the stock. Temasek Holdings Private Ltd increased its stake in Teck Resources by 1.1% during the fourth quarter. Temasek Holdings Private Ltd now owns 5,307,384 shares of the basic materials company's stock valued at $254,171,000 after acquiring an additional 57,380 shares during the period. New York Life Investment Management LLC bought a new stake in shares of Teck Resources in the 4th quarter worth approximately $11,014,000. Cardinal Point Capital Management ULC acquired a new stake in shares of Teck Resources during the 4th quarter worth approximately $379,000. ABN Amro Investment Solutions grew its holdings in shares of Teck Resources by 156.4% during the 4th quarter. ABN Amro Investment Solutions now owns 510,989 shares of the basic materials company's stock worth $24,471,000 after purchasing an additional 311,694 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Teck Resources by 11.6% during the fourth quarter. Principal Financial Group Inc. now owns 18,832,299 shares of the basic materials company's stock valued at $902,769,000 after purchasing an additional 1,953,070 shares during the period. Institutional investors and hedge funds own 78.06% of the company's stock.
Analyst Upgrades and Downgrades
TECK has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft upped their target price on Teck Resources from $64.00 to $68.00 and gave the company a "buy" rating in a research note on Thursday, July 2nd. TD Securities reissued a "hold" rating on shares of Teck Resources in a report on Friday, April 24th. Wall Street Zen cut shares of Teck Resources from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 26th. Veritas downgraded shares of Teck Resources from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 4th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Teck Resources from $46.00 to $47.00 and gave the stock a "neutral" rating in a report on Tuesday, July 28th. Five analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $62.25.
Read Our Latest Analysis on Teck Resources
Teck Resources Stock Performance
Shares of NYSE:TECK opened at $60.19 on Monday. The business's fifty day moving average price is $61.30 and its two-hundred day moving average price is $57.88. Teck Resources Ltd has a fifty-two week low of $30.98 and a fifty-two week high of $71.25. The stock has a market capitalization of $29.07 billion, a price-to-earnings 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 current ratio of 3.12 and a quick ratio of 2.33.
Teck Resources Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, September 15th. Teck Resources's payout ratio is currently 9.76%.
About Teck Resources
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding TECK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Teck Resources, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Teck Resources wasn't on the list.
While Teck Resources currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to profit from the electric vehicle mega-trend? Click the link to see our list of which EV stocks show the most long-term potential.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
