DekaBank Deutsche Girozentrale Has $23.70 Million Stake in Teck Resources Ltd (NYSE:TECK)

DekaBank Deutsche Girozentrale lowered its position in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 6.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 621,556 shares of the basic materials company's stock after selling 40,152 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.13% of Teck Resources worth $23,702,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC increased its position in Teck Resources by 5.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 10,354 shares of the basic materials company's stock valued at $377,000 after acquiring an additional 545 shares during the period. Golden State Wealth Management LLC increased its position in Teck Resources by 7,560.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,149 shares of the basic materials company's stock valued at $42,000 after acquiring an additional 1,134 shares during the period. Pictet Asset Management Holding SA increased its position in Teck Resources by 102.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 309,987 shares of the basic materials company's stock valued at $12,563,000 after acquiring an additional 156,980 shares during the period. Cetera Investment Advisers increased its position in Teck Resources by 20.6% in the 4th quarter. Cetera Investment Advisers now owns 57,793 shares of the basic materials company's stock valued at $2,342,000 after acquiring an additional 9,887 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its position in Teck Resources by 22.6% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 12,141 shares of the basic materials company's stock valued at $442,000 after acquiring an additional 2,240 shares during the period. Institutional investors and hedge funds own 78.06% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on TECK shares. JPMorgan Chase & Co. raised their target price on Teck Resources from $41.00 to $46.00 and gave the company an "overweight" rating in a research report on Wednesday. Stifel Canada raised Teck Resources to a "hold" rating in a research note on Tuesday. National Bankshares raised Teck Resources from a "sector perform" rating to an "outperform" rating in a research note on Thursday, April 24th. Veritas raised Teck Resources to a "hold" rating in a research note on Friday, April 11th. Finally, Stifel Nicolaus started coverage on Teck Resources in a research note on Wednesday. They set a "hold" rating for the company. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $65.25.

Teck Resources Stock Up 0.8%

Shares of Teck Resources stock traded up $0.30 during trading hours on Thursday, reaching $38.74. 5,157,727 shares of the company's stock were exchanged, compared to its average volume of 3,259,634. The company has a 50 day moving average of $37.78 and a two-hundred day moving average of $38.87. Teck Resources Ltd has a fifty-two week low of $28.32 and a fifty-two week high of $54.13. The company has a current ratio of 3.36, a quick ratio of 2.57 and a debt-to-equity ratio of 0.15. The stock has a market cap of $18.71 billion, a P/E ratio of 66.80, a P/E/G ratio of 0.59 and a beta of 0.80.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its earnings results on Thursday, April 24th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.18. Teck Resources had a net margin of 3.48% and a return on equity of 4.53%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same period last year, the business posted $0.75 EPS. Teck Resources's revenue was up 41.4% on a year-over-year basis. On average, sell-side analysts forecast that Teck Resources Ltd will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a dividend of $0.0901 per share. The ex-dividend date of this dividend was Monday, June 16th. This is an increase from Teck Resources's previous quarterly dividend of $0.09. This represents a $0.36 annualized dividend and a yield of 0.93%. Teck Resources's dividend payout ratio (DPR) is 62.07%.

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.