Teck Resources Limited (NYSE:TECK) Shares Purchased by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 409.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 754,653 shares of the basic materials company's stock after purchasing an additional 606,551 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.15% of Teck Resources worth $30,557,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in TECK. PNC Financial Services Group Inc. raised its holdings in Teck Resources by 2.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,632 shares of the basic materials company's stock worth $471,000 after purchasing an additional 243 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Teck Resources by 2.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 9,809 shares of the basic materials company's stock valued at $398,000 after buying an additional 279 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Teck Resources by 6.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,844 shares of the basic materials company's stock worth $196,000 after buying an additional 297 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Teck Resources by 2.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 13,959 shares of the basic materials company's stock worth $566,000 after buying an additional 302 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its position in shares of Teck Resources by 7.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 4,897 shares of the basic materials company's stock worth $198,000 after buying an additional 327 shares in the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Teck Resources Trading Up 2.8%

TECK stock traded up $1.01 during midday trading on Tuesday, hitting $37.61. The stock had a trading volume of 2,107,750 shares, compared to its average volume of 3,142,111. The company's 50-day moving average price is $35.41 and its 200 day moving average price is $40.21. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35. The firm has a market cap of $18.53 billion, a PE ratio of 68.35 and a beta of 0.79. Teck Resources Limited has a 12-month low of $28.32 and a 12-month high of $54.13.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last announced its quarterly earnings data on Thursday, April 24th. The basic materials company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.18. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $2.19 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The business's revenue for the quarter was up 41.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.75 earnings per share. On average, equities research analysts predict that Teck Resources Limited will post 1.53 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a $0.0901 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.96%. This is a positive change from Teck Resources's previous quarterly dividend of $0.09. The ex-dividend date is Monday, June 16th. Teck Resources's dividend payout ratio (DPR) is presently 58.62%.

Analyst Ratings Changes

TECK has been the topic of a number of research reports. National Bank Financial raised shares of Teck Resources from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th. Bank of America upped their price target on shares of Teck Resources from $62.00 to $64.00 and gave the company a "buy" rating in a report on Monday, March 10th. Desjardins initiated coverage on shares of Teck Resources in a research note on Friday, April 4th. They set a "buy" rating for the company. JPMorgan Chase & Co. cut their price objective on Teck Resources from $50.00 to $41.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Finally, National Bankshares raised Teck Resources from a "sector perform" rating to an "outperform" rating in a research note on Thursday, April 24th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $64.11.

Teck Resources Company Profile

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.