Mackenzie Financial Corp Acquires 404,095 Shares of 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 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,882,543 shares of the basic materials company's stock after acquiring an additional 404,095 shares during the period. Mackenzie Financial Corp owned 1.18% of Teck Resources worth $238,245,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Stonebridge Financial Group LLC bought a new position in Teck Resources during the fourth quarter worth about $25,000. FPC Investment Advisory Inc. bought a new position in Teck Resources during the fourth quarter worth about $27,000. Community Bank N.A. bought a new position in Teck Resources during the fourth quarter worth about $33,000. Pilgrim Partners Asia Pte Ltd bought a new position in Teck Resources during the fourth quarter worth about $55,000. Finally, Altshuler Shaham Ltd bought a new position in Teck Resources during the fourth quarter worth about $70,000. Institutional investors own 78.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TECK. Desjardins began coverage on Teck Resources in a report on Friday, April 4th. They set a "buy" rating for the company. National Bankshares upgraded Teck Resources from a "sector perform" rating to an "outperform" rating in a report on Thursday, April 24th. Bank of America raised their price objective 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. BMO Capital Markets started coverage on shares of Teck Resources in a research report on Wednesday, April 16th. They set an "outperform" rating for the company. Finally, JPMorgan Chase & Co. cut their price objective on shares of Teck Resources from $50.00 to $41.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Teck Resources presently has an average rating of "Moderate Buy" and an average target price of $64.11.

Teck Resources Price Performance

Shares of NYSE TECK traded up $0.35 during midday trading on Thursday, reaching $37.75. 942,983 shares of the company were exchanged, compared to its average volume of 3,561,698. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. Teck Resources Limited has a one year low of $28.32 and a one year high of $54.13. The stock has a market cap of $18.60 billion, a P/E ratio of 68.64 and a beta of 0.79. The stock's 50-day moving average price is $35.24 and its 200-day moving average price is $40.17.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last released 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 2.96% and a return on equity of 4.59%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the previous year, the business earned $0.75 earnings per share. Teck Resources's revenue for the quarter was up 41.4% on a year-over-year basis. On average, sell-side analysts anticipate that Teck Resources Limited will post 1.53 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $0.0901 per share. This is an increase from Teck Resources's previous quarterly dividend of $0.09. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Monday, June 16th. Teck Resources's dividend payout ratio is currently 58.62%.

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.