Massachusetts Financial Services Co. MA Has $47.65 Million Stake in Teck Resources Ltd (NYSE:TECK)

Massachusetts Financial Services Co. MA raised its position in Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 20.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,308,019 shares of the basic materials company's stock after buying an additional 220,603 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.27% of Teck Resources worth $47,651,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Community Bank N.A. bought a new position in shares of Teck Resources in the fourth quarter worth approximately $33,000. Golden State Wealth Management LLC lifted its position in Teck Resources by 7,560.0% during the first quarter. Golden State Wealth Management LLC now owns 1,149 shares of the basic materials company's stock valued at $42,000 after buying an additional 1,134 shares during the period. Ameriflex Group Inc. purchased a new position in shares of Teck Resources in the 4th quarter worth about $50,000. Pilgrim Partners Asia Pte Ltd bought a new stake in Teck Resources in the 4th quarter worth about $55,000. Finally, Bruce G. Allen Investments LLC increased its holdings in Teck Resources by 104.8% in the 1st quarter. Bruce G. Allen Investments LLC now owns 1,636 shares of the basic materials company's stock worth $60,000 after buying an additional 837 shares in the last quarter. 78.06% of the stock is owned by institutional investors.

Teck Resources Price Performance

Shares of NYSE:TECK opened at $38.09 on Friday. The stock has a market cap of $18.40 billion, a PE ratio of 65.67, a PEG ratio of 0.58 and a beta of 0.80. The company's fifty day moving average is $38.17 and its 200 day moving average is $38.75. The company has a quick ratio of 2.57, a current ratio of 3.36 and a debt-to-equity ratio of 0.15. Teck Resources Ltd has a 52 week low of $28.32 and a 52 week high of $54.13.

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, topping 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 firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the prior year, the firm posted $0.75 earnings per share. The business's revenue was up 41.4% on a year-over-year basis. Research analysts anticipate that Teck Resources Ltd will post 1.53 earnings per share for the current year.

Teck Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a $0.0901 dividend. The ex-dividend date was Monday, June 16th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.95%. This is an increase from Teck Resources's previous quarterly dividend of $0.09. Teck Resources's payout ratio is presently 62.07%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on TECK shares. Stifel Nicolaus initiated coverage on Teck Resources in a research report on Wednesday, July 9th. They set a "hold" rating on the stock. National Bankshares raised Teck Resources from a "sector perform" rating to an "outperform" rating in a research report on Thursday, April 24th. National Bank Financial upgraded Teck Resources from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th. Morgan Stanley lowered Teck Resources from an "overweight" rating to an "equal weight" rating and raised their target price for the stock from $42.00 to $44.00 in a report on Tuesday. Finally, Desjardins began coverage on Teck Resources in a research report on Friday, April 4th. They issued a "buy" rating on the stock. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Teck Resources currently has an average rating of "Moderate Buy" and an average target price of $60.75.

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.

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