Mackenzie Financial Corp Has $238.25 Million Stake in Teck Resources Limited (NYSE:TECK)

Mackenzie Financial Corp grew its stake in Teck Resources Limited (NYSE:TECK - Free Report) TSE: TECK by 7.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,882,543 shares of the basic materials company's stock after buying an additional 404,095 shares during the period. Mackenzie Financial Corp owned approximately 1.18% of Teck Resources worth $238,245,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Stonebridge Financial Group LLC acquired a new position in shares of Teck Resources during the fourth quarter worth approximately $25,000. FPC Investment Advisory Inc. acquired a new position in Teck Resources during the 4th quarter valued at $27,000. Community Bank N.A. bought a new stake in Teck Resources in the 4th quarter valued at $33,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Teck Resources in the 4th quarter worth $55,000. Finally, Altshuler Shaham Ltd bought a new position in shares of Teck Resources during the 4th quarter worth about $70,000. Institutional investors and hedge funds own 78.06% of the company's stock.

Teck Resources Stock Up 3.4%

Shares of TECK traded up $1.26 during midday trading on Tuesday, hitting $37.86. The stock had a trading volume of 4,669,713 shares, compared to its average volume of 3,152,283. The company has a 50 day simple moving average of $35.32 and a two-hundred day simple moving average of $40.19. Teck Resources Limited has a twelve month low of $28.32 and a twelve month high of $54.13. The firm has a market cap of $18.65 billion, a price-to-earnings ratio of 68.84 and a beta of 0.79. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.92 and a quick ratio of 2.35.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released its quarterly 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 return on equity of 4.59% and a net margin of 2.96%. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter last year, the business posted $0.75 EPS. The company's revenue for the quarter was up 41.4% on a year-over-year basis. On average, analysts anticipate that Teck Resources Limited will post 1.53 EPS for the current year.

Teck Resources Increases Dividend

The company 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 is an increase from Teck Resources's previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.36 annualized dividend and a dividend yield of 0.95%. Teck Resources's dividend payout ratio (DPR) is currently 58.62%.

Analyst Ratings Changes

Several equities analysts have commented on the company. JPMorgan Chase & Co. cut their price target on Teck Resources from $50.00 to $41.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Bank of America upped their price target on shares of Teck Resources from $62.00 to $64.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. UBS Group reiterated a "neutral" rating on shares of Teck Resources in a research report on Tuesday, April 15th. Veritas upgraded Teck Resources to a "hold" rating in a research report on Friday, April 11th. Finally, Desjardins assumed coverage on shares of Teck Resources in a report on Friday, April 4th. They set a "buy" rating for the company. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Teck Resources presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.11.

Teck Resources 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.